Serbia: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Serbia

In 2022, the Serbian odoriferous substance mixture market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Odoriferous Substance Mixture Production in Serbia

In value terms, odoriferous substance mixture production dropped rapidly to $X in 2022 estimated in export price. Over the period under review, production recorded a dramatic slump. Over the period under review, production attained the peak level at $X in 2021, and then contracted rapidly in the following year.

Odoriferous Substance Mixture Exports

Exports from Serbia

In 2022, shipments abroad of mixtures of odoriferous substances and their preparations increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, odoriferous substance mixture exports totaled $X in 2022. Overall, exports saw a remarkable increase. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Austria (X tons) was the main destination for odoriferous substance mixture exports from Serbia, accounting for a X% share of total exports. Moreover, odoriferous substance mixture exports to Austria exceeded the volume sent to the second major destination, Germany (X tons), fivefold. Bosnia and Herzegovina (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Austria totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Bosnia and Herzegovina (X% per year).

In value terms, Austria ($X), Bosnia and Herzegovina ($X) and Germany ($X) appeared to be the largest markets for odoriferous substance mixture exported from Serbia worldwide, together comprising X% of total exports. North Macedonia, Romania and Montenegro lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Romania, 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 odoriferous substance mixture export price amounted to $X per ton, approximately equating the previous year. Over the period under review, the export price recorded a mild descent. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

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

Odoriferous Substance Mixture Imports

Imports into Serbia

After two years of growth, purchases abroad of mixtures of odoriferous substances and their preparations decreased by X% to X tons in 2022. In general, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2014 indices. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, odoriferous substance mixture imports shrank to $X in 2022. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2013 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Germany (X tons), Ireland (X tons) and Switzerland (X tons) were the main suppliers of odoriferous substance mixture imports to Serbia, with a combined X% share of total imports. Slovenia, the United States, Austria, the Netherlands and Spain lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), Germany ($X) and Switzerland ($X) constituted the largest odoriferous substance mixture suppliers to Serbia, with a combined X% share of total imports. The United States, the Netherlands, Slovenia, Austria and Spain lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, the United States, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 Ireland ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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