In 2024, the European odoriferous substances market, excluding those for the food or drink industries, reveals France as the largest market with 874.91 million euros. Spain follows with 630.82 million euros, and Germany ranks third at 403.77 million euros. Poland and Hungary show significant year-on-year growth rates in 2023, at 4.66% and 6.69%, respectively, with Denmark exhibiting the highest growth at 7.03%. From 2018 to 2023, the compound annual growth rate (CAGR) indicates a solid trend with notable growth in emerging markets within Europe.
Future trends to watch include:
- Increased investment in sustainable and eco-friendly odoriferous substances.
- Enhanced regulatory frameworks driving innovation and quality improvements.
- Expanding applications of odoriferous substances in non-food industries.
- Potential market consolidation through mergers and acquisitions.
Top countries in Odoriferous Substances (Excluding Those Used for the Food or Drink Industries) Market Size Value by Country
| # | 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 |
| 6 | 6 Hungary | 110,750,000 | 2023 | +5.19% | +6.69% | 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% | View data |
| 10 | 10 Denmark | 11,469,000 | 2023 | +5.59% | +7.03% | View data |
