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

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

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Global Sandalwood Oil Market: Overview

Sandalwood oil is extracted from Santalum album or Indian sandalwood tree, that is a type of the essential oils with golden yellow in color and woody long-lasting fragrance. Sandalwood oil mainly used in various aromatherapy and 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 concern across the globe is a key factor expected to drive growth of the global sandalwood oil market over the forecast period. In addition, rising adoption of sandalwood oil among various industries such as pharmaceutical and cosmetic across the globe is another factor expected to boost 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 fueling 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 provides clean, bright and flawless skin, cure skin itching and infections, prevent skin aging, relieve spasms, anti-inflammatory, antiseptic, and others. This results in a growing demand for sandalwood oil across the globe is another factor expected to propel growth of the global market.

Furthermore, rising adoption of sandalwood oil among various manufacturers for the production of various personal care products and perfumes is another factor projected to rise growth of the global market. Aggrieve marketing strategies by major manufacturers across the globe 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 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 among the nature segment.

Among the application segment, the cosmetics and personal care segment 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 are 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, Japan in 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 North America region. The market in Latin America, Europe, and Middle East & Africa are 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