Market Overview:
Global agarwood essential oil market is projected to grow at the CAGR of 4.2%. Increasing application of agarwood essential oil in various personal care products and perfumes is driving the growth of the market. Rising use of agarwood essential oil in aromatherapy is influencing the huge demand of high quality agarwood essential oil. There are many grades of agarwood essential oil available in the market. The quality of grade is dependent on the grade of wood used and the length of distillation. Typically, the longer the distillation time the higher the grade of agarwood essential oil.
Agarwood essential oil is used to cure various health problems from ancient times in all different regions of world. It mainly used to cure digestive problems, oral issues, skin problems, alleviates pain, respiratory disorders and for epileptic attacks. Key players in agarwood essential oil are focusing on innovative techniques 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.
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Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major agarwood essential oil market players. It further includes product portfolios, developments of leading major players which includes
- Dauper SA
- Hoang Giang Agarwood Company Limited
- Ji’an Zhongxiang Natural Plants Co., Ltd
- Shaanxi Guanjie Technology Co., Ltd
- Amarnath Exports
- Xi’an Natural Field Bio-Technique Co., Ltd. and
- Maruti Natural Fragrances
Key Findings:
Application of agarwood essential oil in perfume sector is growing at higher rate
Top five importers of agarwood are Germany, U.S., China, India and Japan
Segments:
Agarwood essential oil has been segmented on the basis of raw material which comprises wood, resin, flowers, bark and others and others
Agarwood essential oil has been segmented on the basis of product type which comprises pure essential oil, compound essential oil and others
Agarwood essential oil has been segmented on the basis of application which comprises perfume, cosmetics and others
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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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