Agarwood Essential Oil Market Research Report includes various topics like total Market Size, Key Market Drivers, Challenges, Growth Opportunities, Industry Share, Growth, Demand, Outlook etc. Furthermore, it covers key market updates, the impact of regulations and technological updates in. The report addresses the need to stay updated in this competitive market conditions and this provides and comprehensive data for making strategies and decision to stimulate the market growth and profitability.
Market Analysis:
Also known as aloeswood, agarwood is the fragrant dark wood which is mainly used to make perfume and incense. Market Research Future (MRFR) has published and released a research report about the global agarwood essential oil market that predicts growth for this market during the forecast period between 2016 and 2022.
Analyzing the market structure, this report evaluates the future growth potential of the market, along with demand dynamics. New techniques enable the production of agarwood essential oil in higher quantity. The demand for this oil is rising due to consumers getting acne eradication, better digestion & sleep, relief from joint pain, relief from allergies, and relief from skin irritation. The mentioned benefits are aiding the growth for the global agarwood essential oil market. Agarwood essential oil is also used by the end user industries that produce cosmetics, soaps, personal care items, therapeutics, etc. Techniques implemented to improve stimulation of agarwood production for enhanced quality of the oil produced also favor the market growth and expansion for agarwood essential oil. The market for agarwood oil is limited only in those countries (for example, Bangladesh), where most people are not aware of the agarwood oil benefits. Agarwood oil also has high medicinal value as it is useful for manufacturing many ayurvedic medicines.
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The global agarwood essential oil market has been segmented on the basis of application, product type, raw material, and lastly, region. Based on application, this market has been segmented into cosmetics, perfume, and others. As per product type, the market has been segmented on the basis of compound essential oil, pure essential oil, and others. By raw materials, the market has been segmented into the bark, flowers, resin, wood, and others.
Major Key Players Trend:
The key players in the global agarwood essential oil market include Hoang Giang Agarwood Company Limited (Vietnam), Amarnath Exports (India), Dauper SA (Spain), Ji’an Zhongxiang Natural Plants Co. Ltd (China), Maruti Natural Fragrances (India), Shaanxi Guanjie Technology Co. Ltd. (China), and Xi’an Natural Field Bio-Technique Co. Ltd. (China).
Latest Industry News:
Plantations International Agarwood SDN. BHD. in Malaysia has received regulatory approval for its Agarwood investment program from the Companies Commission of Malaysia, The Suruhanjaya Syarikat Malaysia “SSM” for its Malaysian Agarwood investment program. 19 JUL 2018
Music superstar MÉLOVIN has created his own signature scent, Black Gas that is available as a limited edition. The artists’ debut perfume contains notes of ambergris, black coffee, black oud (agarwood oil), chocolate, fiery ginger, and green strawberry. 29 MAY 2018
Regional Analysis:
The regional segmentation of the global agarwood essential oil market segments the market into the continent-based regional markets namely North America, Europe, Asia Pacific, and rest of the world (RoW). The Asia Pacific holds the largest market share among all regional markets. Malaysia and Sri Lanka have climates suitable for agarwood plantation, and these two countries are among the key producers of agarwood. During the forecast period, China, India, and Malaysia are expected to drive the market in this region. The major exporters of agarwood essential oil, throughout the world, are China, India, Indonesia, Germany, and Malaysia.
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North America and Europe are importing agarwood essential oil, and this is supposed to continue during the forecast period. In Europe, Germany is the biggest market for agarwood essential oil. Other country-specific markets in this region are France, Italy, and the United Kingdom (UK), followed by the rest of Europe. The report predicts expansion for overall Europe market during the forecast period. In North America, the most important country-specific markets are the United States of America (USA), Canada and Mexico.
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