Report Philippines - Essential Oils - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Jan 13, 2023

Philippines - Essential Oils - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Essential Oils Market 2023

Essential Oils Market Size in the Philippines

In 2021, the Philippine essential oils market decreased by -14.4% to $X, falling for the second year in a row after two years of growth. In general, consumption recorded notable growth. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Essential Oils Production in the Philippines

In value terms, essential oils production surged to $X in 2021 estimated in export price. In general, production recorded a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 433%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Essential Oils Exports

Exports from the Philippines

In 2021, after three years of decline, there was significant growth in shipments abroad of essential oils, when their volume increased by 2,298% to X tons. Over the period under review, exports, however, showed a abrupt contraction. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, essential oils exports surged to $X in 2021. In general, exports, however, faced a abrupt curtailment. The growth pace was the most rapid in 2013 when exports increased by 464%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Kuwait (X tons), Hong Kong SAR (X tons) and Qatar (X tons) were the main destinations of essential oils exports from the Philippines, with a combined 74% share of total exports. The United Arab Emirates, Thailand, Canada, the United States, Malaysia, South Korea and Singapore lagged somewhat behind, together comprising a further 23%.

From 2012 to 2021, the biggest increases were in Canada (with a CAGR of +153.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), the United States ($X) and Hong Kong SAR ($X) constituted the largest markets for essential oils exported from the Philippines worldwide, with a combined 50% share of total exports. The United Arab Emirates, Kuwait, Qatar, Canada, Malaysia, South Korea and Singapore lagged somewhat behind, together comprising a further 45%.

Among the main countries of destination, Canada, with a CAGR of +185.2%, recorded the highest growth rate of 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 essential oils export price stood at $X per ton in 2021, shrinking by -85.4% against the previous year. Overall, the export price, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 1,085% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then shrank sharply in the following year.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+31.4%), while the prices for the other major destinations experienced more modest paces of growth.

Essential Oils Imports

Imports into the Philippines

After two years of decline, overseas purchases of essential oils increased by 15% to X tons in 2021. In general, imports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 25%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, essential oils imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a abrupt contraction. The growth pace was the most rapid in 2016 when imports increased by 81% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), the United States (X tons) and China (X tons) were the main suppliers of essential oils imports to the Philippines, together accounting for 62% of total imports. These countries were followed by Singapore, Brazil, Spain, Australia, the UK, Japan and Hong Kong SAR, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were in Spain (with a CAGR of +34.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of essential oils to the Philippines, comprising 35% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by Singapore, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.2% per year) and Singapore (+7.2% per year).

Import Prices by Country

In 2021, the average essential oils import price amounted to $X per ton, growing by 34% against the previous year. Overall, the import price, however, continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2016 an increase of 47% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for essential oils in the world?
+
The countries with the highest volumes of consumption in 2021 were Germany, China and the United States, together accounting for 29% of global consumption. These countries were followed by France, India, the UK, Brazil, Japan, Pakistan, Spain, Malaysia, Ireland and Indonesia, which together accounted for a further 31%.
What are the largest producers of essential oils in the world?
+
The countries with the highest volumes of production in 2021 were China, Brazil and India, with a combined 37% share of global production. Germany, the United Arab Emirates, France, Spain, Argentina, Pakistan, Russia, the UK, Italy and Madagascar lagged somewhat behind, together accounting for a further 30%.
What are the leading suppliers of essential oils to the Philippines?
+
In value terms, the United States constituted the largest supplier of essential oils to the Philippines, comprising 35% of total imports. The second position in the ranking was held by China, with a 15% share of total imports. It was followed by Singapore, with a 13% share.
What are the leading importers of essential oils from the Philippines?
+
In value terms, the largest markets for essential oils exported from the Philippines were Thailand, the United States and Hong Kong SAR, together comprising 50% of total exports. The United Arab Emirates, Kuwait, Qatar, Canada, Malaysia, South Korea and Singapore lagged somewhat behind, together accounting for a further 45%.
What is the average export price for essential oils in the Philippines?
+
The average essential oils export price stood at $6,624 per ton in 2021, dropping by -85.4% against the previous year.
What is the average import price for essential oils in the Philippines?
+
In 2021, the average essential oils import price amounted to $12,722 per ton, jumping by 34% against the previous year.

This report provides an in-depth analysis of the essential oils market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 20531020 - Essential oils
Country coverage:
• Philippines

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the Philippines
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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