Philippines - Essential Oils - Market Analysis, Forecast, Size, Trends and Insights
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Essential Oils Market Size in the Philippines
After two years of growth, the Philippine essential oils market decreased by X% to $X in 2022. In general, consumption, however, showed a abrupt decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.
Essential Oils Production in the Philippines
In value terms, essential oils production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.
Essential Oils Exports
Exports from the Philippines
Essential oils exports from the Philippines dropped sharply to X tons in 2022, waning by X% on 2021. Overall, exports continue to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, essential oils exports contracted markedly to $X in 2022. In general, exports showed a deep downturn. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.
Exports by Country
South Korea (X tons) was the main destination for essential oils exports from the Philippines, with a X% share of total exports. Moreover, essential oils exports to South Korea exceeded the volume sent to the second major destination, the United States (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total exports with an X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the United Arab Emirates (X% per year).
In value terms, France ($X), the United States ($X) and Spain ($X) constituted the largest markets for essential oils exported from the Philippines worldwide, with a combined X% share of total exports. South Korea, Qatar, Malaysia, the United Arab Emirates and Australia lagged somewhat behind, together accounting for a further X%.
Qatar, with a CAGR of X%, saw the highest growth rate of 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
The average essential oils export price stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price continues to indicate a prominent expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Australia ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.
Essential Oils Imports
Imports into the Philippines
In 2022, purchases abroad of essential oils increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, continue to indicate a abrupt decrease. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.
In value terms, essential oils imports reduced to $X in 2022. In general, imports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.
Imports by Country
In 2022, India (X tons) constituted the largest essential oils supplier to the Philippines, with a X% share of total imports. Moreover, essential oils imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The United States (X tons) ranked third in terms of total imports with an X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United States (X% per year).
In value terms, the largest essential oils suppliers to the Philippines were the United States ($X), China ($X) and the UK ($X), with a combined X% share of total imports. Brazil, India, Singapore, Indonesia, Japan and Hong Kong SAR lagged somewhat behind, together comprising a further X%.
In terms of the main suppliers, Indonesia, with a CAGR of X%, recorded 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
The average essential oils import price stood at $X per ton in 2022, declining by X% against the previous year. In general, the import price continues to indicate a pronounced setback. The pace of growth was the most pronounced in 2016 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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