The export value of essential oils, perfumes, cosmetics, and toiletries from South Africa exhibited fluctuations between 2013 and 2023, reaching 698.5 million USD in 2023. The period from 2013 to 2016 saw declines peaking at -8.66% in 2016. Recovery followed, with significant growth of 8.2% in 2021, stabilizing to 2.54% in 2023. The Compound Annual Growth Rate (CAGR) for the last five years stood at 2.54%.
Future forecasts suggest a moderate upward trend, with exports expected to grow at a 1.92% CAGR over the next five years, culminating in a 9.95% total increase by 2028.
Future trends to watch for include:
- Advancements in sustainable and eco-friendly products driving demand.
- Increasing consumer preferences for natural and organic products.
- Market diversification and geopolitical factors influencing export dynamics.