The essential oils market in Bulgaria has experienced fluctuations over the years, peaking in 2014 before entering a decline phase. By 2023, the market was valued at 36.606 million euros, showing a decrease from the previous year.
Recent trends indicate:
- Significant drops in 2022 and 2023, with 2022 seeing a steep 15.43% decrease.
- A consistent decline over the last five years at a CAGR of -1.8%, showcasing a challenging period for the market.
Looking ahead, future trends to watch include the impact of increasing consumer awareness towards natural products and the potential for innovation in organic essential oils, which might drive growth or stabilize demand in the market.
How does Bulgaria rank in Essential Oils Market Size Value?
| # | 16 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 2,435,500,000 | 2023 | +1.28% | +1.62% | View data |
| 2 | 2 United Kingdom | 1,481,200,000 | 2023 | +0.66% | +1.83% | View data |
| 3 | 3 Spain | 1,424,900,000 | 2023 | +2.73% | +2.58% | View data |
| 4 | 4 Italy | 1,101,800,000 | 2023 | +1.3% | +1.16% | View data |
| 5 | 5 Poland | 858,670,000 | 2023 | +3.65% | +4.65% | View data |
| 12 | 12 Finland | 91,683,000 | 2023 | +2.05% | +2.52% | View data |
| 13 | 13 Croatia | 36,649,000 | 2023 | -0.11% | -0.27% | View data |
| 14 | 14 Bulgaria | 36,606,000 | 2023 | -3.5% | -1.8% | |
| 15 | 15 Estonia | 13,626,000 | 2023 | +1.92% | +6.4% | View data |
| 16 | 16 Latvia | 4,427,800 | 2023 | +0.37% | +0.085% | View data |
