The essential oils of orange market in Latvia reached a value of 278.9 thousand USD in 2023. Over the past two years, the market experienced positive growth, with year-on-year increases of 25.42% and 4.85% in 2022 and 2023, respectively. After fluctuations in the mid-2010s, the market has shown resilience and a noticeable recovery since 2020. Over the last five years, the compound annual growth rate (CAGR) was 4.42%, indicating modest but steady growth.
Future trends to watch in this market include increasing demand for natural and organic personal care products and potential growth through new distribution channels such as e-commerce. The impact of sustainability trends may also influence production practices and market dynamics.
How does Latvia rank in Essential Oils of Orange Market Size Value?
# | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
---|---|---|---|---|---|---|
1 | 1 China | 193,830,000 | 2023 | +3.26% | +2.8% | View data |
2 | 2 United Kingdom | 163,010,000 | 2023 | +2.6% | +2.21% | View data |
3 | 3 Canada | 76,048,000 | 2023 | +1.97% | +2.12% | View data |
4 | 4 Italy | 50,924,000 | 2023 | +4.84% | +2.14% | View data |
5 | 5 Australia | 16,837,000 | 2023 | +3.74% | +3.32% | View data |
8 | 8 Greece | 1,955,300 | 2023 | +3.1% | +5.53% | View data |
9 | 9 Ecuador | 1,397,800 | 2023 | +1.91% | +1.62% | View data |
10 | 10 Latvia | 278,900 | 2023 | +4.85% | +4.42% |