The market for odoriferous substances in the Croatian food and drink industries saw fluctuating growth between 2013 and 2023, with a 2023 market size value of 31.117 million euros. The sector experienced both peaks and declines, marked by significant year-on-year variations. While the year-on-year growth was 2.89% in 2023, a broader look reveals a 5-year CAGR of -1.53%, indicating an overall decline over the last five years.
Future trends to watch:
- Potential shifts in consumer preferences towards natural and organic additives could influence demand.
- Regulatory changes within the EU impacting synthetic and artificial ingredients may alter market dynamics.
- Innovation in scent technology and application in various food/drink formulations could drive growth opportunities.
How does Croatia rank in Odoriferous Substances for the Food or Drink Industries Market Size Value?
| # | 11 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 1,034,100,000 | 2023 | +0.66% | +1.32% | View data |
| 2 | 2 France | 1,013,900,000 | 2023 | +0.33% | +2.85% | View data |
| 3 | 3 Italy | 571,700,000 | 2023 | +0.22% | +2.72% | View data |
| 4 | 4 Spain | 528,100,000 | 2023 | +4.91% | +2% | View data |
| 5 | 5 Poland | 502,970,000 | 2023 | +3.69% | +3.51% | View data |
| 8 | 8 Finland | 89,256,000 | 2023 | +1.89% | +4.06% | View data |
| 9 | 9 Bulgaria | 49,914,000 | 2023 | +1.57% | +3.6% | View data |
| 10 | 10 Croatia | 31,117,000 | 2023 | +2.89% | -1.53% | |
| 11 | 11 Estonia | 8,887,500 | 2023 | +1.68% | +4.49% | View data |
