Norway: Essential Oils Market 2024

Essential Oils Market Size in Norway

The Norwegian essential oils market dropped rapidly to $X in 2022, falling by X% against the previous year. Overall, consumption, however, posted strong growth. Essential oils consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Essential Oils Production in Norway

In value terms, essential oils production contracted notably to $X in 2022 estimated in export price. Overall, production, however, saw a buoyant expansion. 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 maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

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Essential Oils Exports

Exports from Norway

In 2022, overseas shipments of essential oils were finally on the rise to reach X kg for the first time since 2019, thus ending a two-year declining trend. In general, exports showed a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, essential oils exports surged to $X in 2022. Overall, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Sweden (X kg) was the main destination for essential oils exports from Norway, accounting for a X% share of total exports. Moreover, essential oils exports to Sweden exceeded the volume sent to the second major destination, Canada (X kg), fivefold. The third position in this ranking was taken by Poland (X kg), with a X% share.

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

In value terms, the largest markets for essential oils exported from Norway were Sweden ($X), Canada ($X) and Poland ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Sweden, 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 average essential oils export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price continues to indicate a pronounced descent. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then declined rapidly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Sweden ($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 the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Essential Oils Imports

Imports into Norway

In 2022, purchases abroad of essential oils decreased by X% to X tons, falling for the second year in a row after six years of growth. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, essential oils imports fell sharply to $X in 2022. Overall, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), the UK (X tons) and Denmark (X tons) were the main suppliers of essential oils imports to Norway, with a combined X% share of total imports. China, India, Italy, Germany and Sweden lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of essential oils to Norway, comprising X% of total imports. The second position in the ranking was held by the UK ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Italy (X% per year).

Import Prices by Country

The average essential oils import price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2018 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Denmark ($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 States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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