United Kingdom: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in the UK

The UK odoriferous substance mixture market dropped to $X in 2022, waning by -5.1% against the previous year. In general, consumption recorded a perceptible slump. Odoriferous substance mixture consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Odoriferous Substance Mixture Production in the UK

In value terms, odoriferous substance mixture production declined modestly to $X in 2022 estimated in export price. Overall, production showed a perceptible setback. The most prominent rate of growth was recorded in 2018 with an increase of 19%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Odoriferous Substance Mixture Exports

Exports from the UK

In 2022, overseas shipments of mixtures of odoriferous substances and their preparations were finally on the rise to reach X tons after four years of decline. In general, exports, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2016 with an increase of 1.8%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, odoriferous substance mixture exports fell to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 12%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

France (X tons), Thailand (X tons) and Poland (X tons) were the main destinations of odoriferous substance mixture exports from the UK, with a combined 28% share of total exports. Ireland, Germany, the United States, the Netherlands, Spain, Nigeria, Italy, China, Russia and Belgium lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +3.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Spain ($X) and Italy ($X) constituted the largest markets for odoriferous substance mixture exported from the UK worldwide, together comprising 29% of total exports.

Among the main countries of destination, Italy, with a CAGR of +6.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, dropping by -11.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2021 an increase of 14%. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into the UK

In 2022, the amount of mixtures of odoriferous substances and their preparations imported into the UK dropped slightly to X tons, declining by -3.9% compared with the year before. In general, imports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 42%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, odoriferous substance mixture imports dropped to $X in 2022. The total import value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 29%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, Ireland (X tons) constituted the largest supplier of odoriferous substance mixture to the UK, accounting for a 73% share of total imports. Moreover, odoriferous substance mixture imports from Ireland exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume from Ireland stood at +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.1% per year) and the Netherlands (-2.3% per year).

In value terms, Ireland ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to the UK, comprising 57% of total imports. The second position in the ranking was taken by Germany ($X), with a 9.6% share of total imports. It was followed by Switzerland, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ireland totaled +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.6% per year) and Switzerland (+35.1% per year).

Import Prices by Country

The average odoriferous substance mixture import price stood at $X per ton in 2022, falling by -2.7% against the previous year. Overall, the import price continues to indicate a deep setback. The pace of growth appeared the most rapid in 2020 when the average import price increased by 58%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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