Serbia: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Serbia

The Serbian odoriferous substance mixture market soared to $X in 2023, picking up by X% against the previous year. Overall, consumption continues to indicate tangible growth. Over the period under review, the market hit record highs in 2023 and is likely to see steady growth in the immediate term.

Odoriferous Substance Mixture Production in Serbia

In value terms, odoriferous substance mixture production dropped rapidly to $X in 2023 estimated in export price. Over the period under review, production showed a sharp downturn. Odoriferous substance mixture production peaked at $X in 2022, and then dropped markedly in the following year.

Odoriferous Substance Mixture Exports

Exports from Serbia

In 2023, the amount of mixtures of odoriferous substances and their preparations exported from Serbia contracted notably to X tons, falling by X% on the year before. In general, exports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, odoriferous substance mixture exports expanded notably to $X in 2023. Over the period under review, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of X%. The exports peaked in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

Austria (X tons) was the main destination for odoriferous substance mixture exports from Serbia, with a X% share of total exports. Moreover, odoriferous substance mixture exports to Austria exceeded the volume sent to the second major destination, Germany (X tons), sixfold. The third position in this ranking was taken by North Macedonia (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Austria stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and North Macedonia (X% per year).

In value terms, Austria ($X), Bosnia and Herzegovina ($X) and North Macedonia ($X) appeared to be the largest markets for odoriferous substance mixture exported from Serbia worldwide, together accounting for X% of total exports. Albania, Germany, Montenegro, Romania and Slovenia lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Albania, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average odoriferous substance mixture export price stood at $X per ton in 2023, surging by X% against the previous year. In general, export price indicated a modest 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 increased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2023, the average export prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Montenegro (X%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Serbia

In 2023, imports of mixtures of odoriferous substances and their preparations into Serbia amounted to X tons, surging by X% against 2022. Overall, total imports indicated a measured expansion from 2012 to 2023: its volume 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, imports increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked in 2023 and are likely to continue growth in the immediate term.

In value terms, odoriferous substance mixture imports skyrocketed to $X in 2023. In general, total imports indicated a prominent expansion 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, imports increased by X% against 2013 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2023 and are expected to retain growth in years to come.

Imports by Country

Ireland (X tons), Germany (X tons) and Switzerland (X tons) were the main suppliers of odoriferous substance mixture imports to Serbia, with a combined X% share of total imports. The United States, Slovenia, Spain, the Netherlands, France and Austria lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

From 2012 to 2023, the average annual rate of growth in terms of value from Ireland totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Switzerland (X% per year).

Import Prices by Country

The average odoriferous substance mixture import price stood at $X per ton in 2023, rising by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform