Market Research Future Insights

According to MRFR The global Agarwood Essential Oil market is expected to register a CAGR of 6.35% during the forecast period 2022 - 2030 hold a value of over USD 345.5 Million by the year 2030.

Agarwood essential oil is a high-value, aromatic oil that is derived from the resinous heartwood of the agarwood tree (Aquilaria species), which is also known as oud, oodh, or agar. The tree produces the resin as a natural defense mechanism in response to infection or injury, and it is this resinous wood that is used to create agarwood essential oil. The oil is highly prized for its unique and complex fragrance, which is often described as woody, balsamic, and sweet, with notes of resin, musk, and floral undertones. It is commonly used in perfumery, aromatherapy, and traditional medicine, and is also used in the production of incense and other fragrant products. In COVID-19 Some of the key impacts on the agarwood essential oil market size include: supply chain disruptions, reduced demand from the perfume industry, decline in tourism, and economic uncertainty. Some of the market driving factors include growing demand in the perfume industry, increasing popularity of aromatherapy, rising disposable incomes, and growing awareness of the benefits of natural products. high price point, lack of awareness and education, and competition from synthetic fragrances are some of the major factors restraining the market growth.

MARKET SEGMENTATION

The agarwood essential oil market is be segmented based on the type of agarwood oil produced, such as compound and pure essential oil. Agarwood essential oil has a wide range of applications, including food and beverage industry, cosmetics and personal care industry, and pharmaceutical industry. Based on Raw Material, the agarwood essential oil market is classified into wood, flowers, bark, and resin. The market is also be segmented based on the sales channel, into specialty drug stores, supermarkets or hypermarkets, e-commerce, and convenience stores.

REGION ANALYSIS

Asia-Pacific is the largest and fastest-growing agarwood essential oil market research, accounting for considerable market share. The region is a major producer and consumer of agarwood essential oil, with countries such as Vietnam, Cambodia, Indonesia, and Malaysia being the major producers. The North American market for agarwood essential oil is growing due to the increasing demand for natural and organic fragrances. The region is a major importer of agarwood essential oil, primarily from Asia-Pacific countries.

KEY PLAYERS

Some of the key players include Hoang Giang Eden Botanicals, Maruti Natural Fragrances, MJI Group, Treedom Oud, Amarnath Exports, K.A.B. Industries, Agarwood Company, Shiv Sales Corporation, Assam Aromas, and Janvi Herbs.

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