Eugenol Price Trend and Forecast

Eugenol Regional Price Overview

Get the latest insights on price movement and trend analysis of Eugenol in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Eugenol Price Trend for the First Half of 2024

In the first half of 2024, the price trend for eugenol was largely positive for the most part, coinciding with the price behavior of clove bud oil, its primary feedstock. The rising demand for natural and sustainable ingredients in the European market, particularly for use in pharmaceuticals, flavors, and fragrances, drove the demand for eugenol higher. The increased focus on sustainability and quality, alongside the growing popularity of Asian cuisines and natural health products, pushed up the costs of production for clove bud oil, thereby raising the prices of eugenol.
 

Eugenol Price Chart

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However, occasional dips in demand from the food and pharma sectors also provided a reverse push to eugenol prices. As a key compound with diverse applications, ranging from dental care products to perfumes and flavoring agents, eugenol's price trend in H1'24 reflected the broader market dynamics of increased demand and higher input costs associated with sustainable production practices. Overall, a buoyant market dynamics was witnessed for eugenol during H1 of 2024.

Analyst Insight

According to Procurement Resource, the market dynamics for Eugenol don't look any different in the upcoming months. Considering the balance between the upstream and downstream outlooks, the market appears positively driven.
 

Eugenol Price Trend for the Second Half of 2023

Since consumer interest has been rising in conventional healing and healthcare methodologies, the market demands for traditional medicinal herbs, spices, and their products have been on the rise. Similarly, eugenol, too, experienced an increased consumer interest during the said period of Q3 and Q4 of 2023.

The eugenol market, however, still continued to depend on the feedstock clove’s market performance. The Asian markets, particularly India and China, observed a strict watch on the export quantities and products as the medicinal herbs started getting popular to prevent illegal smuggling. This led to a rise in eugenol prices in the Indian market; the Chinese market was also not any different as the prices were observed to be inching higher here as well. Overall, the eugenol price graph remained in the positive vectors throughout the said period.

Analyst Insight

According to Procurement Resource, given the current supply and demand dynamics, Eugenol price trends are likely to continue to rise in the coming months, given the rising demands as lower than usual production yields.
 

Eugenol Price Trend for the First Half of 2023

Eugenol is sourced from therapeutic essential oils like clove essential oil, cinnamon essential oil, and nutmeg essential oil. Clove is considered a high-demand product, but excess production by farmers to garner high profits resulted in adverse results as the prices declined instead of rising. During the first half of the year 2023, Eugenol prices were observed to be almost stagnant throughout, with very short-lived occasional fluctuations with variations in demands. Overall, stable market sentiments were observed.

Analyst Insight

According to Procurement Resource, as the clove inventories are still full and the production costs are declining with a reduction in freight costs, the price trend for Eugenol are likely to remain fluctuating in the same manner.

Procurement Resource provides latest prices of Eugenol. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.