Estonia: Essential Oils Market 2024

Essential Oils Market Size in Estonia

The Estonian essential oils market contracted to $X in 2022, shrinking by X% against the previous year. Overall, consumption, however, continues to indicate slight growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Essential Oils Production in Estonia

In value terms, essential oils production shrank to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Essential oils production peaked at $X in 2021, and then fell in the following year.

Essential Oils Exports

Exports from Estonia

After two years of growth, shipments abroad of essential oils decreased by X% to X tons in 2022. Over the period under review, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, essential oils exports reduced rapidly to $X in 2022. In general, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lithuania (X tons) was the main destination for essential oils exports from Estonia, with a X% share of total exports. Moreover, essential oils exports to Lithuania exceeded the volume sent to the second major destination, Russia (X tons), threefold. The third position in this ranking was held by Finland (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Finland (X% per year).

In value terms, the largest markets for essential oils exported from Estonia were Lithuania ($X), Finland ($X) and Russia ($X), together accounting for X% of total exports.

Finland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 essential oils export price amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Slovakia ($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 Finland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Essential Oils Imports

Imports into Estonia

In 2022, the amount of essential oils imported into Estonia rose notably to X tons, surging by X% against 2021. Over the period under review, imports saw mild growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, essential oils imports declined to $X in 2022. In general, imports enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Finland (X tons), the Netherlands (X tons) and Lithuania (X tons) were the main suppliers of essential oils imports to Estonia, with a combined X% 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, Russia ($X), the Netherlands ($X) and Lithuania ($X) appeared to be the largest essential oils suppliers to Estonia, with a combined X% share of total imports.

Among the main suppliers, the Netherlands, with a CAGR of X%, saw the highest growth rate of 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 average essential oils import price amounted to $X per ton, which is down by X% against the previous year. In general, the import price, however, posted moderate growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained 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 the United States ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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