Report Turkey - Essential Oils - Market Analysis, Forecast, Size, Trends and Insights for 499$
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Turkey - Essential Oils - Market Analysis, Forecast, Size, Trends and Insights
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Turkey: Essential Oils Market 2023

Essential Oils Market Size in Turkey

In 2021, the Turkish essential oils market increased by 15% to $X, rising for the second consecutive year after four years of decline. Overall, consumption, however, faced a drastic downturn. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Essential Oils Production in Turkey

In value terms, essential oils production rose markedly to $X in 2021 estimated in export price. Over the period under review, production showed a abrupt slump. The growth pace was the most rapid in 2015 with an increase of 13%. Essential oils production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Essential Oils Exports

Exports from Turkey

In 2021, essential oils exports from Turkey expanded to X tons, with an increase of 2.3% compared with 2020. Over the period under review, total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 51%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, essential oils exports fell modestly to $X in 2021. In general, total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -41.7% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of 30%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), France (X tons) and Peru (X tons) were the main destinations of essential oils exports from Turkey, with a combined 40% share of total exports. These countries were followed by the Netherlands, Hungary, Romania, Germany, the UK, Azerbaijan, Spain, Switzerland, South Africa and Bahrain, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were in South Africa (with a CAGR of +308.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for essential oils exports from Turkey, comprising 48% of total exports. The second position in the ranking was held by the United States ($X), with a 13% share of total exports. It was followed by the UK, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+19.4% per year) and the UK (+2.2% per year).

Export Prices by Country

The average essential oils export price stood at $X per ton in 2021, shrinking by -5.1% against the previous year. Overall, the export price recorded a noticeable decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 54% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the average price for exports to Peru ($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 Azerbaijan (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Essential Oils Imports

Imports into Turkey

Essential oils imports into Turkey rose significantly to X tons in 2021, increasing by 8.7% against 2020 figures. Overall, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% 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 +45.5% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 34% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, essential oils imports surged to $X in 2021. In general, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2017 with an increase of 34%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Brazil (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of essential oils imports to Turkey, together accounting for 41% of total imports. India, Spain, Indonesia, China, Italy, the UK and France lagged somewhat behind, together comprising a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +29.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest essential oils suppliers to Turkey were India ($X), Indonesia ($X) and the United States ($X), together accounting for 32% of total imports.

India, with a CAGR of +24.7%, saw the highest rates of growth with regard to 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

The average essential oils import price stood at $X per ton in 2021, growing by 6.1% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, essential oils import price decreased by -20.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 25% against the previous year. Over the period under review, average import prices hit record highs at $X per ton 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 France ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+10.7%), 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, with a combined 29% share of global consumption. France, India, the UK, Brazil, Japan, Pakistan, Spain, Malaysia, Ireland and Indonesia lagged somewhat behind, together comprising 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, together comprising 37% of global production. Germany, the United Arab Emirates, France, Spain, Argentina, Pakistan, Russia, the UK, Italy and Madagascar lagged somewhat behind, together comprising a further 30%.
What are the leading suppliers of essential oils to Turkey?
+
In value terms, the largest essential oils suppliers to Turkey were India, Indonesia and the United States, together accounting for 32% of total imports.
What are the leading importers of essential oils from Turkey?
+
In value terms, France remains the key foreign market for essential oils exports from Turkey, comprising 48% of total exports. The second position in the ranking was held by the United States, with a 13% share of total exports. It was followed by the UK, with an 8% share.
What is the average export price for essential oils in Turkey?
+
In 2021, the average essential oils export price amounted to $92,116 per ton, waning by -5.1% against the previous year.
What is the average import price for essential oils in Turkey?
+
In 2021, the average essential oils import price amounted to $34,275 per ton, rising by 6.1% against the previous year.

This report provides an in-depth analysis of the essential oils market in Turkey. 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:
• Turkey

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Turkey
• 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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