Global Guaiacwood Essential Oil Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Guaiacwood Essential Oil Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global guaiacwood essential oil market report has been segmented as per product type, application, and region.

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Global Guaiacwood Essential Oil Market: Overview

The guaiacwood essential oil is known as guayacan and it is obtained from the wood of Bulnesia Sarmientoi plant which has sensual and strong woody fragrance. This essential oil is widely used in the perfume, soap, incense, and candle manufacturing process due to its deep fragrance and excellent properties. The guaiacwood essential oil has multiple health benefits such as reduce stress and anxiety, anti-inflammatory, lymphatic decongestant, and others. In addition, this oil is extensively used in aromatherapy to relieve tension and anxiety.

Global Guaiacwood Essential Oil Market: Dynamics

Increasing demand for guaiacwood essential oil in developing and developed countries due to the rising use of this oil in several applications is key factor expected to fuel growth of the global guaiacwood essential oil market. In addition, expanding the perfume industry across the globe and rising per capita income of individuals across the globe are major factors anticipated to boost growth of the global market during the forecast period.

Growing demand for guaiacwood essential oil in the cosmetic industry for the production of several personal care products coupled with healthy and tightening skin benefits is another factor expected to support growth of the global market. In addition, increasing demand for various healthcare therapies among individuals due to rising hectic lifestyle across the globe resulting in growing demand for guaiacwood essential oil is another factor projected to proliferate growth of the global guaiacwood essential oil market.

Furthermore, rising development of guaiacwood essential oil extraction techniques by major essential oil manufacturers across the globe is another factor anticipated to propel growth of the global market in the upcoming years.

However, high cost associated with guaiacwood essential oil and a high dose of this oil may cause some health issues including diarrhea, intestinal, and others are key factors projected to hamper growth of the global guaiacwood essential oil market. In addition, the availability of guaiacwood essential oil substitutes in the market is a challenging factor projected to affect growth of the global market.

Global Guaiacwood Essential Oil Market: Segment Analysis

Increasing adoption of pure guaiacwood essential oil among the several industries such as cosmetics, fragrance, and others in various applications is the primary factor driving revenue growth of the pure segment among the product type segments.

Global Guaiacwood Essential Oil Market: Region Analysis

The Asia Pacific guaiacwood essential oil market accounted for the highest share in terms of revenue followed by the market in Europe and are projected to dominate the target market during the forecast period. Expanding cosmetic and fragrance industries and high adoption of guaiacwood essential oil in various applications such as incense, perfume, soap, and others by major key players in countries such as India, China, Germany, UK, France, and Italy in these regions. The market in North America is projected to witness significant growth in the global market, owing to high health concern among individuals and rising demand for various aromatherapy treatments in countries in this region. The market in Latin America and Middle East & Africa are expected to register moderate growth in terms of revenue, owing to rising guaiacwood essential oil manufacturers in the countries in these regions.

Global Guaiacwood Essential Oil Market Segmentation:

Segmentation by Product Type:

Blends
Pure

Segmentation by Application:

Personal Care products
Fragrances
Aromatherapy

Segmentation by Distribution Channel:

Hypermarket/Supermarkets
Specialty Stores
E-commerce