EU: Essential Oils Market 2024

Essential Oils Market Size in the EU

In 2022, the EU essential oils market increased by X% to $X, rising for the second year in a row after two years of decline. The total consumption 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. Based on 2022 figures, consumption increased by X% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Essential Oils Production in the EU

In value terms, essential oils production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2018; afterwards, it flattened through to 2022.

Essential Oils Exports

Exports in the EU

In 2022, essential oils exports in the European Union amounted to X tons, remaining relatively unchanged against 2021 figures. Over the period under review, exports posted strong growth. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, essential oils exports declined to $X in 2022. Total exports indicated resilient growth 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. Based on 2022 figures, exports increased by X% against 2012 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then contracted in the following year.

Exports by Country

The Netherlands was the main exporting country with an export of around X tons, which accounted for X% of total exports. Germany (X tons) took the second position in the ranking, followed by Italy (X tons), France (X tons), Spain (X tons) and Poland (X tons). All these countries together took near X% share of total exports. Ireland (X tons) followed a long way behind the leaders.

Exports from the Netherlands increased at an average annual rate of X% from 2012 to 2022. At the same time, Poland (X%), Spain (X%), Italy (X%), France (X%), Ireland (X%) and Germany (X%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of the Netherlands and Poland increased by X and X percentage points, respectively.

In value terms, the largest essential oils supplying countries in the European Union were France ($X), the Netherlands ($X) and Germany ($X), with a combined X% share of total exports. Italy, Spain, Poland and Ireland lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Poland, with a CAGR of X%, saw 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

In 2022, the export price in the European Union amounted to $X per ton, waning by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (X%), while the other leaders experienced more modest paces of growth.

Essential Oils Imports

Imports in the EU

For the ninth consecutive year, the European Union recorded growth in purchases abroad of essential oils, which increased by X% to X tons in 2022. Total imports indicated buoyant growth 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, imports increased by X% against 2013 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, essential oils imports rose markedly to $X in 2022. Total imports indicated a prominent expansion 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. Based on 2022 figures, imports increased by X% against 2012 indices. The growth pace was the most rapid in 2017 with an increase of X%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) and the Netherlands (X tons) were the key importers of essential oils in the European Union, together recording approx. X% of total imports. Ireland (X tons) ranks next in terms of the total imports with a X% share, followed by France (X%), Italy (X%) and Spain (X%). Belgium (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest essential oils importing markets in the European Union were France ($X), Ireland ($X) and Germany ($X), together comprising X% of total imports. The Netherlands, Spain, Italy and Belgium lagged somewhat behind, together comprising a further X%.

Among the main importing countries, the Netherlands, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. The level of import peaked 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 France ($X per ton), while Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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