In 2023, Italy's import of essential oils, resinoids, and terpenic by-products stood at a slightly lower value compared to the forecast for 2024. From 2024 to 2028, the imports are projected to grow steadily from 88.845 million USD to 97.518 million USD, indicating a stable increase. The year-on-year variation is expected to manifest as a consistent upward trend. Analyzing the outlook from 2024 to 2028 reveals a compound annual growth rate (CAGR), suggesting a moderate but steady annual increase in import value.
Future trends to watch for include:
- Fluctuations in global demand and supply of essential oils affecting import values.
- Currency exchange rates influencing import costs and competitiveness.
- Italy's growing inclination towards natural products potentially boosting demand.
- Regulatory changes within the European Union affecting import dynamics.
