From 2012 to 2016, the market for Mixed Odoriferous Substances in Brazil exhibited moderate fluctuations, with values rising from $714.25 million to $717.63 million. These changes reflected both minor growth and contractions year-on-year. However, a noticeable downward trend started from 2018, marked by a significant decline in 2018 and dramatic reduction in 2020. Recent data show that the market value slightly recovered in 2021, although it decreased marginally again in 2022 to $626.55 million. The latest CAGR over the past five years indicates an average annual decline rate of 2.61%.
Key trends to watch for in the future include:
- Potential for market recovery post-2023 due to economic stabilization and sectorial adaptation to market demands.
- Innovation in product formulations and usage in the food and drink industries which could drive growth.
- Impact of regulatory changes and environmental policies on market dynamics and production costs.
How does Brazil rank in Mixed Odoriferous Substances for the Food and Drink Industries Market Size Value?
| # | 41 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 3,016,200,000 | 2023 | +0.29% | -0.37% | View data |
| 2 | 2 Spain | 2,197,100,000 | 2023 | +0.12% | -1.01% | View data |
| 3 | 3 Canada | 1,678,600,000 | 2023 | +1.95% | +1.93% | View data |
| 4 | 4 Italy | 1,347,400,000 | 2023 | -2.5% | -2.73% | View data |
| 5 | 5 Japan | 1,278,400,000 | 2023 | -3.11% | -1.97% | View data |
| 8 | 8 Thailand | 673,740,000 | 2023 | +1.82% | +2.18% | View data |
| 9 | 9 Australia | 663,050,000 | 2023 | +2.54% | +2.16% | View data |
| 10 | 10 Brazil | 621,180,000 | 2023 | -0.86% | +0.014% | |
| 11 | 11 Colombia | 585,290,000 | 2023 | +0.56% | +2.24% | View data |
| 12 | 12 Netherlands | 557,960,000 | 2023 | -0.49% | -2.5% | View data |
