The import of essential oils, resinoids, and terpenic by-products to India is expected to grow consistently from 2024 to 2028, reaching $581.39 million. As of 2023, the import value was approximately $466.47 million, indicating a promising upward trajectory. The year-on-year growth rates show a steady increase, with significant annual increments. The compound annual growth rate (CAGR) over the five-year forecast period reflects consistent expansion and rising demand in the market.
Future trends to watch for include:
- Potential shifts in global supply chains affecting essential oils and resinoid materials.
- Growth in demand driven by the health and wellness industry in India.
- Impact of technological advancements in production and extraction processes.
- Regulatory changes and trade policies influencing import dynamics.
