Agarwood Oil Market expected to reach nearly USD 424.1 Mn by 2029 with the CAGR of 5.42% during the forecast period.

30.8.2023 : Agarwood Oil Market Report Scope and Research Methodology

The comprehensive market report delves into the intricate dynamics of the global Agarwood Oil market, offering a clear understanding of key drivers, restraints, market segmentation, and regional insights. The research employs a rigorous methodology, including PORTER, SVOR, and PESTEL analyses, along with an evaluation of micro-economic factors, to provide stakeholders with accurate and actionable insights.

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What are Agarwood Oil Market Dynamics?

Market Drivers and Insights

Agarwood Oil, derived from resinous Agarwood, holds significant antimicrobial, antioxidant, and therapeutic properties, leading to its extensive utilization in various sectors. The market has experienced a surge in demand due to the escalating preference for aromatherapy, particularly in metropolitan regions of the US and Europe. Moreover, the rising prevalence of mental health-related issues has fueled the demand for Agarwood Oil, which is known for its stress-relieving and antidepressant qualities.

The Agarwood Oil market has also witnessed traction in the cosmetics industry, where its moisturizing and anti-aging attributes make it a sought-after ingredient. Notably, the collaboration between Evolva, a Swiss biotechnology company, and Malaysian Biotechnology Corporation has paved the way for synthetic production of Agarwood Oil, catering to the heightened global demand.

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Agarwood Oil Market Segmentation?

It has been noted that more than 52% of the agarwood oil products on the market are contaminated by nature. Demand for Organic Agarwood Oil has increased by 0.3% as a result of a rise in the demand for high-end goods.

By end users, it has been noted that the cosmetics, chemical, and personal care products industries consume more than 70% of the available agarwood oil, whether in its organic or processed form. The demand for Agarwood Oil by the cosmetics industry has increased by 2.1% as a result of a rise in consumer demand for high-end premium goods.

According to distribution channels, it has been shown that specialty stores that sell plant-based items account for more than 40% of the sales of agarwood oil and the products derived from it. Sales through supermarkets and convenience stores increased by 3.1% in the US and Europe due to a rise in demand for medications and cosmetics goods made with agarwood oil. The number of persons purchasing Agarwood Oil through various E-Commerce platforms has increased by 7% as a result of increased use of online shopping portals for plant-based products.

Who are Agarwood Oil Market Key Players?

1. BIOLANDES SAS
2. Essential Oil Wizardry
3. Biofinest USA
4. Nusaroma
5. Deve Herbs
6. HYSSES Pvt. Ltd.
7. WEFIVE Group
8. Dauper S.A.
9. Tien Phuoc Co., Ltd.
10. Gritman Essential Oils
11. Hoang Giang Agarwood Ltd.
12. The Imperial Oud Company
13. Albert Vieille SAS
14. The MJI Group
15. Eden's Garden
16. Katyani Exports
17. Asia Plantation Capital Pvt. Ltd.
18. Agarvina Co., Ltd.
19. ASSAM Aromas
20. Ji'an Zhongxiang Natural Plants Co., Ltd.

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Regional Insights:

Asia-Pacific emerges as the largest producer of Agarwood Oil, driven by countries like India, Sri Lanka, Singapore, Malaysia, and Indonesia, contributing over 60% of the global production. The region's growing preference for plant-based products and traditional medicines fuels the consumption of Agarwood Oil.

In North America and Europe, Agarwood Oil holds substantial appeal in the cosmetics and personal care sectors. The European market has experienced a boost of 3% in Agarwood Oil consumption, driven by the demand for aromatic cosmetics. The American Pharmaceutical Industry has shown a 2.7% rise in Agarwood Oil consumption due to an increasing preference for traditional medicines.

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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