Agarwood Oil Market 2017:Overview, Opportunities, In-Depth Analysis & Forecasts

Agarwood oil, often referred to as oud oil and eagleswood oil, is a resinous, fragrant and highly valuable heartwood. Agarwood oil is more popularly called as Aloeswood oil. The essential oil is derived from the heartwood of the agarwood tree when they become infected with a type of mould. Post infection, the tree produces a dark aromatic resin, called aloes or agar. There are a number of popular species but typically aquilaria malaccensis, aquilaria agallocha or aquilaria crassna are used to make the oil. Agarwood oil is native to India as well as several areas of South East Asia including Vietnam, the Philippines and Indonesia. On the backdrop of huge cost and extreme rarity in the wild, the trees from which agarwood oil is obtained are now cultivated and the resin is actually created by artificial infection and its essential oil extracted by water distillation. There are many grades of Agarwood oil. The quality of grade is dependent on the grade of wood used and the length of distillation. Typically, the longer the distillation time the higher the grade. Owing to its manifold properties, the agarwood oil market is anticipated to expand at a healthy CAGR.

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Segmentation:-

Agarwood oil market is segmented on the basis of application which includes cosmetics & personal care, incense, therapeutics, and others. Amongst these applications, therapeutics and cosmetics applications are anticipated to rise at a significant CAGR owing to the capabilities of agarwood oil for instance to alleviate many painful conditions including rheumatism and other forms of arthritis, promote more frequent urination as well as increasing the quantity of urine produced, treat a number of digestive issues, repair damaged skin cells and fight the damage caused by the free radicals, to counter epilepsy, liver complains such as cirrhosis and hepatitis, fever and chills. Furthermore the agarwood oil can also be used for dealing with delivery pain during and after birth, nausea and vomiting.

Agarwood oil market is segmented on the basis of the end use which includes retail and industrial. The retail segment is further sub-segmented as distribution channel which includes online stores, hypermarkets/supermarkets, specialized drug stores, and convenience stores.

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Regional Outlook:-

The South Asian countries such as India, Indonesia, Singapore, Malaysia, Sri Lanka and others lead as the top exporters as well as manufacturers of the agarwood oil market followed by North America and Europe. Most imports have been witnessed by the countries like U.S, Germany, U.K, China, Saudi Arabia, France, and others. Asia will remain as a potential market attributing to the growing economies of India and China. Furthermore, great potential in the agarwood oil market can be attributed to its diverse uses.

Major Key players:-

Some of the major key who are driving the agarwood oil market globally are Agar Aura, BMV Fragrances Private Limited, Oudh Oil, Nusaroma, THE MJI GROUP, Herbpathy and the like.

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