Market Forecast
The essential oil market is mainly driven by increasing innovative application of agarwood essential oil in personal care and perfume. Increasing consumer preferences for natural and high quality fragrances is supporting the growth of market. The rising popularity of agarwood essential oils in pharmaceutical and aromatherapy for their therapeutic effects, has created a huge demand for high quality agarwood essential oils which is influencing the market growth. Growing demand for natural cosmetic products and pleasant aromatic agents is driving the market growth.
These factors will play a key role in the growth of agarwood essential oil market at the CAGR of 4.2% during 2016-2022.
Competitive Analysis-
The Major Key Players in Agarwood Essential Oil Market are
- Amarnath Exports
- Dauper SA
- Hoang Giang Agarwood Company Limited
- Maruti Natural Fragrances
- Ji’an Zhongxiang Natural Plants Co., Ltd
- Xi’an Natural Field Bio-Technique Co., Ltd.,
- Shaanxi Guanjie Technology Co., Ltd
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Market Overview
Agarwood which is also called as aloeswood is the fragrant dark wood which is mainly used to make perfume and incense. Aquilaria species are considered to be high quality agarwood plants available in the market. Agar resin entrenched wood is important part of many culture for its distinctive fragrances and that’s why it is used for incense and perfumes. Agarwood plantations have been established in a number of countries, and reintroduced into countries such as Malaysia and Sri Lanka as commercial plantation crops especially to produce agarwood essential oil. Numerous techniques have been developed to improve stimulation of agarwood production in the trees from last few years. High quality agarwood is one of the most expensive raw material in the world which makes the agarwood essential oil one of the expensive essential oil available in the market.
Intended Audience:
- Essential oil manufacturers
- Cosmetic product manufacturers
- Perfume manufacturers
- Pharmaceutical industry
- E-commerce
- Retailers and wholesalers
Traders, importers and exporters Regional Analysis
The Global Agarwood Essential Oil Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these Asia Pacific region has the major market share followed by Europe. Countries like China, India and Malaysia produce more agarwood than rest of the other countries which makes Asia Pacific a potential market for the new companies. Developed countries are using agarwood for different application such as personal care products and aromatherapy which is driving the market growth in Europe and North America. China, India, Malaysia, Germany and Indonesia are the major exporters of agarwood in the world.
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