Global Sandalwood Oil Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028

Global Sandalwood Oil Market Overview :

“The global Sandalwood Oil Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.

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Sandalwood oil is extracted from the Santalum album or Indian sandalwood tree, which is a type of essential oil with golden yellow in color and woody long-lasting fragrance.

Sandalwood oil is mainly used in various aromatherapy, cosmetics, and personal care products across the globe. In addition, this oil has a wide range of applications in the pharmaceutical industry across the globe.

Global Sandalwood Oil Market: Dynamics

Growing demand for sandalwood oil due to rising skin and health concerns across the globe is a key factor expected to drive the growth of the global sandalwood oil market over the forecast period.

In addition, the rising adoption of sandalwood oil in various industries such as pharmaceutical and cosmetics across the globe is another factor expected to boost the growth of the global market during the forecast period.

Growing demand for natural aromatic products across the globe and rising demand for sandalwood oil-based cosmetic products among individuals are major factors projected to fuel the growth of the global market.

In addition, the increasing popularity of sandalwood oil among individuals due to various skin and health benefits associated with it such as it providing clean, bright, and flawless skin, curing skin itching and infections, preventing skin aging, and relieving spasms, anti-inflammatory, antiseptic, and others.

This results in a growing demand for sandalwood oil across the globe is another factor expected to propel the growth of the global market.

Furthermore, the rising adoption of sandalwood oil among various manufacturers for the production of various personal care products and perfumes is another factor projected to rise the growth of the global market.

Aggrieve marketing strategies by major manufacturers across the globe are expected to boost the global market growth in the upcoming years.

However, the availability of sandalwood oil substitutes in the market is the key factor projected to hamper the target market growth. In addition, the high cost associated with this oil is a challenging factor that may hamper the growth of the target market.

Global Sandalwood Oil Market: Segment Analysis

The rapid adoption of natural sandalwood oil across the globe due to rising awareness about various medicinal properties associated with it such as antispasmodic, antiphlogistic, antiseptic, and others among individuals.

This is the primary factor driving the revenue growth of the natural sandalwood oil segment in the nature segment.

Among the application segment, the cosmetics and personal care segment is projected to witness the fastest growth in the global sandalwood oil market, owing to the rising popularity of several personal care products associated with sandalwood oil fragrance and expanding cosmetic industry across the globe.

Global Sandalwood Oil Market: Region Analysis

The Asia Pacific sandalwood oil market accounted for the highest revenue share followed by the market in North America and is projected to dominate the target market over the forecast period.

High adoption of sandalwood oil for several ceremonies and religious rituals and high presence of sandalwood oil manufacturers in countries such as China, India, and Japan in the Asia Pacific region.

In addition, high adoption of personal care products and high demand for aromatherapy treatments among individuals in countries such as the US and Canada in the North American region.

The market in Latin America, Europe, and the Middle East & Africa is projected to witness moderate growth in terms of revenue, owing to the rising popularity of aromatherapy and sandalwood oil among individuals in countries in these regions.

Global Sandalwood Oil Market Segmentation:

Segmentation by Nature:

• Synthetic
• Natural

Segmentation by Product Type:

• New Caledonian Sandalwood oil
• East Indian Sandalwood oil
• Australian Sandalwood oil

Segmentation by Application:

• Pharmaceuticals
• Cosmetics & Personal Care
• Aromatherapy

Segmentation by Distribution Channel:

• Hypermarket/ Supermarket
• Specialty stores
• Pharmaceuticals
• E-commerce

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa