Key Market Indicators
Israeli aromatics exports are projected to plummet from approximately $942,000 in 2023 to about $93,000 by 2028, marking a dramatic annual decline of 34%. This downturn is notable given that Israeli supply had been on an upward trajectory, increasing by an annual average of 3.6% since 2003. In 2023, Israel ranked 12th in the global aromatics export market. South Korea surpassed Israel with exports valued at roughly $942,000. China, India, and Japan secured the second, third, and fourth positions, respectively. On the import front, Israeli aromatics imports are forecasted to decrease from approximately $895,000 in 2023 to around $658,000 by 2028, reflecting an annual compound growth rate (CAGR) decline of 4.8%. Since 2000, the country's demand for aromatics has been on a downward trend, decreasing by an average of 5.6% annually.
