The market for mixed odoriferous substances for industrial use in Thailand stood at 1.5215 billion USD in 2023, reflecting a stable yet moderate growth. Over the past decade, the market experienced fluctuations with some years of decline, notably in 2020, largely due to global challenges. In recent years, the market has shown resilience, with a year-on-year growth of 1.85% from 2022 to 2023 and a compound annual growth rate (CAGR) of 1.2% over the past five years, indicating a recovery phase.
Looking ahead:
- Companies should keep an eye on the recovery in global supply chains which could affect raw material availability and costs.
- Increasing demand for fragrances in personal care and household products could spur growth.
- Sustainability trends might lead to an increase in demand for natural and eco-friendly ingredients.
| # | 44 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 5,055,500,000 | 2023 | +2.89% | +2.01% | View data |
| 2 | 2 United Kingdom | 4,265,800,000 | 2023 | +0.86% | -1.74% | View data |
| 3 | 3 Spain | 3,670,400,000 | 2023 | +0.57% | -0.064% | View data |
| 4 | 4 Indonesia | 3,098,600,000 | 2023 | +4.12% | +5.66% | View data |
| 5 | 5 Italy | 2,660,800,000 | 2023 | -1.25% | -1.42% | View data |
| 7 | 7 Japan | 2,147,500,000 | 2023 | -2.96% | -3.27% | View data |
| 8 | 8 Poland | 1,592,500,000 | 2023 | +1.72% | +0.33% | View data |
| 9 | 9 Thailand | 1,521,500,000 | 2023 | +1.85% | +1.2% | |
| 10 | 10 Brazil | 1,198,700,000 | 2023 | -0.2% | -0.26% | View data |
| 11 | 11 Colombia | 994,200,000 | 2023 | +0.17% | -0.92% | View data |
