Odoriferous substances for non food industries market in Greece

Earlier Report Observations

The market for odoriferous substances in Greece started the period at USD 30.6 million in 2018, supported by improved competitiveness of the domestic chemical industry which stimulated production and consumption. A contraction followed in 2019, bringing the market size to USD 29.4 million, before it recovered to USD 30.5 million in 2020.

Market expansion resumed strongly, reaching USD 38.6 million by 2022. This growth phase occurred alongside the implementation of an EU regulation restricting precursor substances for explosives, which reshaped supply chains. The market stabilized near USD 38.7 million in 2023, coinciding with EU-level consultations on a new packaging regulation with a deposit return system and a strategic push for sustainable, non-hazardous textile production within the bloc.

A sharp increase characterized 2024, with the market surging to USD 54.1 million. This jump aligned with intensified controls on pesticide residues in food and emergency EU measures for animal diseases, which collectively heightened regulatory scrutiny and likely influenced demand for compliant and safer chemical formulations in related industrial sectors.

Production odoriferous substances for non food industries in Greece

In value, 2017-2020, K $ US

Greece's production of odoriferous substances for non-food industries declined for the second consecutive year. In 2020, output was valued at 4,324 thousand US dollars, representing a 17.6% decrease compared to 2019. Over the period from 2017 to 2020, production increased by 2.4%, with a compound annual growth rate of 0.8%. The largest increase occurred in 2018, when production rose by 61.8% to reach a peak value of 6,832 thousand US dollars. The most significant decline was recorded in 2019, with a drop of 23.2%.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

In kind, 2017-2020, t

The data reveals irregular changes, indicating a volatile market environment. Production reached its lowest point in 2017 and peaked in 2019, with a 2.8-fold difference between these years. In 2020, Greece produced 404.6 tonnes of odoriferous substances for non-food industries, which is 29.1% less than in the previous year. The maximum volume was recorded in 2019 at 570.9 tonnes. The largest increase occurred in 2018, with production surging by 152.0%.

Annual dynamics of production in Greece in kind, 2017-2020, t

Exports odoriferous substances for non food industries from Greece

Exports in kind, t

In 2020, the volume of odoriferous substances for non-food industries exported from Greece reached 1,930 tonnes, reflecting a 75.9% increase compared to 2019. Between 2017 and 2020, exports grew by 91.1%, equating to an annualized rate of 24.1%. The largest decline was recorded in 2019, with no change from the previous year.

Annual dynamics of product's exports from Greece in kind, 2017-2020, t

From 2017 to 2020, exports in kind of odoriferous substances for non-food industries from Greece were characterized by a broad spread across markets. Cyprus accounted for 22.2% of exports in kind, Nigeria for 13.2%, and Vietnam for 10.8%. Together, these three markets represented 46.2% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

In 2020, the value of odoriferous substances for non-food industries exported from Greece reached 11,764 thousand US dollars, up by 8.2% compared to 2019. Between 2017 and 2020, exports increased by 47.2%, equating to an annualized rate of 13.8%. The largest decline occurred in 2019, with a decrease of 2.4%. The most significant increase was recorded in 2018, when exports grew by 39.4%.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

Throughout the period from 2017 to 2020, the three largest markets for Greece's exports in value terms were Nigeria, Cyprus, and Turkey. Together, they accounted for 50.9% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports odoriferous substances for non food industries to Greece

Imports in kind, t

Greece's imports of odoriferous substances for non-food industries increased for the third consecutive year. In 2020, Greece imported a total of 8,341 tonnes, marking a sharp year-on-year gain of 232.0%. Between 2017 and 2020, imports surged by 407.7%, equating to an annualized rate of 71.9%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, t

From 2017 to 2020, France, the Netherlands, and Germany were the principal suppliers of odoriferous substances for non-food industries to Greece. France accounted for 57.1% of imports in kind, the Netherlands for 10.2%, and Germany for 7.3%. Together, these three countries represented 74.6% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

Greece's imports of odoriferous substances for non-food industries increased for the third consecutive year. In 2020, imports stood at 37,907 thousand US dollars, representing an 8.1% gain from the previous year. Between 2017 and 2020, imports grew by 20.6%, equating to an annualized rate of 6.5%.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

From 2017 to 2020, the three principal markets for Greece's imports in value terms were France, the United Kingdom, and Germany. Together, they accounted for 74.0% of total imports of odoriferous substances for non-food industries.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020