As of 2023, India's import of terpenic oils, crude dipentene, and paracymene stood at approximately 3.783 million US dollars. The forecasted values from 2024 to 2028 show a gradual decline in imports, decreasing from 3.7737 million US dollars in 2024 to 3.7369 million US dollars in 2028. The year-on-year variations reflect a slight negative trend, indicating a consistent decrease of around 0.23% per year over this period, with the compound annual growth rate (CAGR) illustrating a gentle decline in imports.
Future trends to watch:
- Innovations in alternative synthetic and natural substitutes.
- Changes in import tariffs and trade policies affecting overall import costs.
- Sustainable practices and green chemistry influencing domestic production.
- Market demand shifts within India's fragrance and flavor industries.
