GCC: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in GCC

The GCC odoriferous substance mixture market contracted to $X in 2023, waning by X% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2018 indices. The level of consumption peaked at $X in 2022, and then contracted in the following year.

Odoriferous Substance Mixture Production in GCC

In value terms, odoriferous substance mixture production declined to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Odoriferous Substance Mixture Exports

Exports in GCC

After two years of decline, shipments abroad of mixtures of odoriferous substances and their preparations increased by X% to X tons in 2023. In general, exports posted prominent growth. The growth pace was the most rapid in 2013 when exports increased by X%. The volume of export peaked in 2023 and is likely to see steady growth in the immediate term.

In value terms, odoriferous substance mixture exports surged to $X in 2023. Over the period under review, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. The level of export peaked at $X in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, accounting for X tons, which was near X% of total exports in 2023. Oman (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the mixtures of odoriferous substances and their preparations exports, with a CAGR of X% from 2012 to 2023. At the same time, Oman (X%) displayed positive paces of growth. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest odoriferous substance mixture supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Oman ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates amounted to X%.

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, reducing by X% against the previous year. Export price indicated a temperate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, odoriferous substance mixture export price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Oman (X%).

Odoriferous Substance Mixture Imports

Imports in GCC

In 2023, after three years of decline, there was significant growth in supplies from abroad of mixtures of odoriferous substances and their preparations, when their volume increased by X% to X tons. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports attained the peak of X tons. From 2020 to 2023, the growth of imports remained at a lower figure.

In value terms, odoriferous substance mixture imports amounted to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2023, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the main importer of mixtures of odoriferous substances and their preparations in GCC, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2023. It was distantly followed by Saudi Arabia (X tons) and Oman (X tons), together committing a X% share of total imports. Kuwait (X tons) and Bahrain (X tons) took a little share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the mixtures of odoriferous substances and their preparations imports, with a CAGR of X% from 2012 to 2023. At the same time, Bahrain (X%) and Oman (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) and Kuwait (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total imports, while Kuwait and Saudi Arabia saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported mixtures of odoriferous substances and their preparations in GCC, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

In the United Arab Emirates, odoriferous substance mixture imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, waning by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X%. The level of import peaked at $X per ton in 2022, and then reduced modestly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Bahrain ($X per ton) and the United Arab Emirates ($X per ton), while Kuwait ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform