The Argentine market of mixed odoriferous substances within the food and drink industries recorded a steady growth from 2013, peaking in 2016 at $11.45 per capita. Post-2016, the market experienced a notable decline, dropping to just $8.15 in 2023. Year-on-year, the market contracted by -1.45% from 2022 to 2023. Over the last five years, the compound annual growth rate (CAGR) stood at -4.31%, indicating a declining trend. This decline parallels broader economic challenges within the region.
Future trends to watch for:
- Innovation in natural and sustainable odoriferous products could revitalise market demand.
- Economic recovery post-pandemic might gradually increase per capita spending power.
- Regulatory changes and consumer preferences shifting towards healthier options may spur market growth.
- Potential trade agreements could expand market access and resources.
| # | 38 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 73.62 | 2023 | View data | ||
| 2 | 2 Sweden | 49.3 | 2023 | View data | ||
| 3 | 3 Spain | 46.57 | 2023 | View data | ||
| 4 | 4 Canada | 43.75 | 2023 | View data | ||
| 5 | 5 United Kingdom | 43.64 | 2023 | View data | ||
| 25 | 25 Japan | 10.18 | 2023 | View data | ||
| 26 | 26 Thailand | 9.63 | 2023 | View data | ||
| 27 | 27 Argentina | 8.15 | 2023 | |||
| 28 | 28 Jordan | 7.67 | 2023 | View data | ||
| 29 | 29 Peru | 7.39 | 2023 | View data | ||
