As of 2023, the market size for mixed odoriferous substances for industrial use in Turkey stood at 897 million USD. The forecasted values indicate a steady growth in the market size from 2024 to 2028, with a year-on-year percentage increase as follows:
- 2024: 1.6% increase compared to 2023
- 2025: 1.5% increase compared to 2024
- 2026: 1.5% increase compared to 2025
- 2027: 1.4% increase compared to 2026
- 2028: 1.4% increase compared to 2027
The Compound Annual Growth Rate (CAGR) over the last 5 years is approximately 1.48%, reflecting consistent albeit moderate market expansion.
Future trends to watch for include advancements in chemical formulations to enhance odor intensity and longevity, increased demand from sectors like personal care and household products, and potential regulatory changes impacting production and usage of industrial odoriferous substances.
