Spain: Pyrethrum And Peppermint Market 2022

Pyrethrum And Peppermint Market Size in Spain

In 2021, the Spanish pyrethrum and peppermint market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Pyrethrum And Peppermint Production in Spain

In value terms, pyrethrum and peppermint production shrank modestly to $X in 2021 estimated in export prices. Overall, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Pyrethrum And Peppermint Exports

Exports from Spain

In 2021, approx. X tonnes of pyrethrum and peppermint were exported from Spain; with a decrease of -X% on the year before. In general, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -X% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked at X tonnes in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, pyrethrum and peppermint exports reached $X in 2021. Over the period under review, exports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2013 when exports increased by X% y-o-y. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Germany (X tonnes), France (X tonnes) and the Netherlands (X tonnes) were the main destinations of pyrethrum and peppermint exports from Spain, with a combined X% share of total exports. These countries were followed by the UK, Belgium, Italy, the United States, Brazil, Ireland, Morocco, Sweden, Portugal and Austria, which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (+X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pyrethrum and peppermint exported from Spain were Germany ($X), France ($X) and the Netherlands ($X), together accounting for X% of total exports. These countries were followed by the UK, Italy, Belgium, Portugal, the United States, Ireland, Austria, Sweden, Brazil and Morocco, which together accounted for a further X, with a CAGR of +X%, recorded 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 pyrethrum and peppermint export price stood at $X per tonne in 2021, increasing by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% y-o-y. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Portugal ($X per tonne), while the average price for exports to Morocco ($X per tonne) was amongst the lowest.

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

Pyrethrum And Peppermint Imports

Imports into Spain

In 2021, the amount of pyrethrum and peppermint imported into Spain was estimated at X tonnes, with an increase of X% compared with 2020 figures. Overall, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2018 indices. The growth pace was the most rapid in 2015 with an increase of X% year-to-year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, pyrethrum and peppermint imports rose slightly to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2012 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X% y-o-y. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Morocco (X tonnes) constituted the largest pyrethrum and peppermint supplier to Spain, with a X% share of total imports. Moreover, pyrethrum and peppermint imports from Morocco exceeded the figures recorded by the second-largest supplier, Egypt (X tonnes), threefold. The third position in this ranking was occupied by Poland (X tonnes), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Morocco totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+X% per year) and Poland (+X% per year).

In value terms, Morocco ($X), the United States ($X) and Poland ($X) appeared to be the largest pyrethrum and peppermint suppliers to Spain, together comprising X% of total imports.

Morocco, with a CAGR of +X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average pyrethrum and peppermint import price amounted to $X per tonne, waning by -X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per tonne), while the price for Tunisia ($X per tonne) was amongst the lowest.

From 2012 to 2021, 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