Key Market Indicators
Indian Aromatics Export is projected to reach approximately $91 million by 2028, up from about $73 million in 2023. This represents a compound annual growth rate (CAGR) of 3.6%. Since 1993, India's aromatic supply has grown at an average rate of 2.7% per year. In 2023, India ranked third globally in aromatic exports, with China taking the lead at around $73 million. Following China and India, Japan secured the fourth position in this ranking. On the import front, Indian Aromatics is expected to hit roughly $25 million by 2028, increasing from around $23 million in 2023. This translates to an average annual growth rate of 1.4%. Since 1993, the demand for aromatics in India has risen at an average rate of 1.2% per year.
