Global Agarwood Essential Oil Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Agarwood Essential Oil Market 2021 (Includes Business Impact of COVID-19)
Global Agarwood Essential Oil Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global agarwood essential oil market report has been segmented as per raw material, product type, application, distribution channel, and region.
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The global Agarwood Essential Oil market size was valued at USD $138.00 million in 2020 and is projected to reach USD $ 138.00 million by 2030, and is anticipated to expand at a CAGR of 4.66% over the forecast period from 2020 to 2030.


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:

  
Flowers
  
Wood
  
Resin
  
Bark

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:

  
Supermarkets/Hypermarkets
  
Convenience stores
  
Specialty drug stores
  
E-commerce


Key Market Players included in the report:


  
ASSAM AROMAS
  
Biofinest USA
  
Biolandes
  
Dauper SA
  
Deve Herbes
  
Edens Garden
  
Grandawood
  
Gritman Essential Oils
  
Hoang Giang Agarwood Ltd.
  
HYSSES Pte Ltd.
  
JiA an Zhongxiang Natural Plants Co., Ltd.
  
Katyani Exports
  
Living Libations
  
Nusaroma
  
Pachara Innovation CO.,LTD
  
The Imperial Oud Co