Global Agarwood Essential Oil Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Agarwood Essential Oil Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global agarwood essential oil market report has been segmented as per raw material, product type, application, distribution channel, and region.
Global Agarwood Essential Oil Market: Overview
The agarwood essential oil is extracted from the agarwood tree which is referred to as eaglewood, oud, and aloeswood and this tree are found in many areas of the globe. The agarwood essential oil has transcendent, warming, purifying, and balancing qualities and hence this oil blends well with various essential oils including rose, sandalwood, carnation, jasmine, and others. This oil is very famous for several health benefits and it also helps to treat various physical and psychological problems. Also, this oil used at a wide range to make incense and perfumes.
Global Agarwood Essential Oil Market: Dynamics
An increasing number of health-conscious consumers across the globe and raising awareness about agarwood essential oil among individuals are major factors anticipated to drive growth of the global agarwood essential oil market. In addition, increasing popularity of agarwood essential oil in developed and developing countries due to several properties associated with it such as maintain psychological health, improve digestion, antimicrobial, treats acne, anti-stress, anti-asthmatic, reduce muscle and joint pain, antioxidant, and others. This is a key factor projected to boost growth of the global agarwood essential oil market during the forecast period.
Rising demand for safe and natural treatments among individuals and increasing adoption of agarwood essential oil among ayurvedic practitioners due to emotional and spiritual benefits associated with this oil. In addition, demand for agarwood essential oil across the globe, owing to anti-inflammatory, analgesic, anti-rheumatic, and other properties associated with this oil. These are other factors expected to rise growth of the global agarwood essential oil market over the forecast period.
Furthermore, increasing penetration of agarwood essential oil in the e-commerce sector by major manufacturers is another factor anticipated to propel growth of the global agarwood essential oil market in the next 10 years. However, limited availability of agarwood essential oil in the market and high cost associated with this oil are major factors anticipated to restraint growth of the global agarwood essential oil market.
Global Agarwood Essential Oil Market: Segment Analysis
The rapid adoption of agarwood essential oil in the pharmaceutical sector due to rising digestive, rheumatism, hepatitis, cirrhosis, and other problems across the globe is primary factor driving major growth of the pharmaceutical industry segment among the application segments.
Global Agarwood Essential Oil Market: Region Analysis
The Asia Pacific agarwood essential oil market accounted for a major share in terms of revenue in the global market followed by market Europe and are anticipated to dominate the target market over the forecast period. the high presence of agarwood essential oil manufacturers, the presence of a large number of agarwood essential oil exporters in countries such as India, China, UK, France, Germany, and Italy in these regions. The market in North America is projected to witness lucrative growth in the target market, owing to high demand for aromatherapy treatment and rapid adoption of personal care products among individuals in countries such as Canada and US in this region. In addition, the market in Middle East & Africa and Latin America are projected to register moderate growth in terms of revenue, due to the rising number of agarwood essential oil manufactures in countries such as South Africa, Israel, Mexico, and Brazil in these regions.
Global Agarwood Essential Oil Market Segmentation:
Segmentation by Raw Material:
Segmentation by Product Type:
- Compound essential oil
- Pure essential oil
Segmentation by Application:
- Cosmetics and personal care industry
- Food and beverage industry
- Pharmaceutical Industry
Segmentation by Distribution Channel:
- Convenience stores
- Specialty drug stores
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Hoang Giang Agarwood Co., Ltd.
- BMV Fragrances Private Limited
- Asia Plantation Capital Pte Ltd.
- Treedom Oud
- Gritman Essential Oils
- DAUPER SA
- Natural and Essential Oils Private Limited
- Maruti Natural Fragrances
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