Australia and Oceania: Essential Oils Market 2024

Essential Oils Market Size in Australia and Oceania

The essential oils market in Australia and Oceania dropped slightly to $X in 2022, waning by X% against the previous year. Overall, consumption, however, posted a prominent expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Essential Oils Production in Australia and Oceania

In value terms, essential oils production contracted to $X in 2022 estimated in export price. In general, production recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Essential Oils Exports

Exports in Australia and Oceania

In 2022, the amount of essential oils exported in Australia and Oceania reduced remarkably to X tons, with a decrease of X% against 2021 figures. Total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, essential oils exports contracted dramatically to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

Australia dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Fiji (X tons), creating a X% share of total exports. New Zealand (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to essential oils exports from Australia stood at X%. At the same time, Fiji (X%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of X% from 2012-2022. By contrast, New Zealand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Fiji increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest essential oils supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: New Zealand (X% per year) and Fiji (X% per year).

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, waning by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Fiji ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced mixed trends in the export price figures.

Essential Oils Imports

Imports in Australia and Oceania

In 2022, purchases abroad of essential oils decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, essential oils imports dropped notably to $X in 2022. Over the period under review, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) represented the largest importer of essential oils, achieving X% of total imports. It was distantly followed by New Zealand (X tons), mixing up a X% share of total imports. Fiji (X tons) held a little share of total imports.

Imports into Australia decreased at an average annual rate of X% from 2012 to 2022. At the same time, New Zealand (X%) and Fiji (X%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of X% from 2012-2022. New Zealand (X p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported essential oils in Australia and Oceania, comprising X% of total imports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total imports.

In Australia, essential oils imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: New Zealand (X% per year) and Fiji (X% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price, however, continues to indicate tangible growth. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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