The market size for odoriferous substances (excluding food and drink industries) in Portugal experienced a steady year-on-year increase from 2013 to 2023, closing at a value of 21.307 million euros in 2023. Over the last two years, growth rates were modest with 1.47% in 2022 and 1.42% in 2023, illustrating a deceleration compared to previous years, such as the robust 6.87% increase in 2021. The compound annual growth rate (CAGR) over the past five years was 1.48%, highlighting slowed but consistent growth.
Future trends to watch:
- Emerging preferences for natural and sustainable odoriferous products may drive demand.
- Technological advancements in fragrance formulation could enhance growth prospects.
- Regulatory changes in the EU regarding safety and environmental impacts could influence market dynamics.
- Economic factors, such as inflation or purchasing power, may impact consumer spending on non-essential goods.
How does Portugal rank in Odoriferous Substances (Excluding Those Used for the Food or Drink Industries) Market Size Value?
| # | 10 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 874,910,000 | 2023 | +2.13% | +1.94% | View data |
| 2 | 2 Spain | 630,820,000 | 2023 | +1.97% | +2.1% | View data |
| 3 | 3 Germany | 403,770,000 | 2023 | +4.78% | +3.71% | View data |
| 4 | 4 Italy | 402,790,000 | 2023 | +0.28% | +0.79% | View data |
| 5 | 5 Poland | 300,010,000 | 2023 | +3.8% | +4.66% | View data |
| 7 | 7 Czech Republic | 103,590,000 | 2023 | +2.38% | +3.14% | View data |
| 8 | 8 Greece | 41,581,000 | 2023 | +4.04% | +3.37% | View data |
| 9 | 9 Portugal | 21,307,000 | 2023 | +1.42% | +1.48% | |
| 10 | 10 Denmark | 11,469,000 | 2023 | +5.59% | +7.03% | View data |
