Uttar Pradesh, India -- (SBWIRE) -- 11/13/2019 -- Market Overview

Agarwood essential oils are a fragrance inducing oil that is obtained from the tree named agarwood, as the name suggests. It is used for divine and therapeutic purposes since a long period of time. It boasts a number of essential therapeutic properties that aids in fixing impaired skin, ensure proper digestion, heal insomnia and acne, relive joint pain, lessen allergies, and so on. At present, it is primarily utilized in aromatherapy, pharmaceuticals, cosmetics, and perfumes. The growth of the market can be attributed to the religious, traditional, and cultural significance of the product.
The report on the global agarwood essential oils market revealed the growth to be at a desirable pace. The valuation of the agarwood essential oils market was further stated to surpass its previous valuation. Its increasing applications across various industries to aid in personal wellness is expected to boost its market presence. Add to this, the growing demand for organic and natural cosmetics is projected to open up new commercial opportunities for the players in the global market. However, the broad supply-demand gap for these oil can limit its potential growth in the forthcoming years of the forecast period.

Market Segmentation

The global agarwood essential oil market has been segmented in terms of type and applications.
By category, the market segments into organic and conventional agarwood essential oil. The organic segment is slated to enjoy a major share of the global market in the coming years due to the growing inclination of consumers towards organic or natural products.
By application, the market includes aromatherapy, pharmaceuticals, personal care, and air care. The personal care segment is expected to stand out among other applications and attain a projected valuation of USD 103.3 million by the end of the forecast period in 2025. Increasing usage of agarwood oil as a key ingredient in perfumes and fragrant soaps is expected to be a major driving factor for the segment. Also, the aromatherapy segment is anticipated to garner positive numbers in the coming years as well.

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Regional Analysis

The global agarwood essential oil market is geographically distributed across the following key regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. Asia Pacific region holds the highest position in the global market of agarwood essential oil and is primarily driven by the presence of countries like China, a leading producer of the same. The regional market of Asia Pacific holds the upper hand in the global landscape due to the availability of agarwood trees herein.
Elsewhere, the market in Europe is growing at a decent pace and is projected to offer lucrative opportunities to the players in the coming years. This is due to the growing demand for cosmetics and luxury perfumes herein.

Competitive Landscape

The global agarwood essential oil market comprises a host of key players. This includes names like Shiv Sales Corporation (India), K.A.B. Industries (India), Maruti Natural Fragrances (India), Assam Aromas (India), MJI Group (India), Treedom Oud (Thailand), Eden Botanicals (US), Janvi Herbs (India), Amarnath Exports (India), Hoang.Giang Agarwood Company (Vietnam), and others.

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