Agarwood Essential Oil Market Overview:

The agarwood tree produces aromatic oil, also called agarwood essential oil. This essential oil is extensively used in pharmaceuticals, cosmetics, aromatherapy, and perfumes. In today’s world, grooming has become a prevalent aspect of daily life, with a higher demand for cosmetic products. Grooming oils are largely used in beard, hair, and skin. Several industries realize the series of benefits of agarwood essential oil and therefore, infuse it into their products. 

Market Research Future (MRFR)’s new extensive study reveals details of Agarwood Essential Oil Market Agarwood essential oil market is estimated to reach USD 0.4350 billion by 2032, registering a CAGR of 6.35% from 2023 to 2032

The important vendors in the agarwood essential oil market include

• Agro Products
• ASSAM AROMAS
• Grandawood
• Biolandes
• Deve Herbes
• Essential Oil Wizardry
• Katyani Exports
• Jiâ an Zhongxiang Natural Plants Co., Ltd.
• Biofinest USA
• Nusaroma
• Dauper SA
• Hoang Giang Agarwood Ltd.
• HYSSES Pte Ltd.
• Living Libations
• Agarwood Oil Inc.
• Gritman Essential Oils
• Pachara Innovation CO., LTD
• The Imperial Oud Co
• Edens Garden
• Essential Oils Company

𝗧𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 𝗶𝘀 𝗣𝗿𝗶𝗰𝗲𝗱 𝗮𝘁 𝗖𝗹𝗶𝗰𝗸 𝗛𝗲𝗿𝗲 𝘁𝗼 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗦𝗮𝗺𝗽𝗹𝗲 :@ https://www.marketresearchfuture.com/sample_request/2555

Market Drivers:

The agarwood essential oil market stands to benefit from the soaring awareness about the various uses of the product in aromatherapy, air care, food & beverage, personal care, and more. A variety of essential oils experience a huge demand worldwide, given the expanding application scope in several therapeutic procedures along with the mounting number of people taking interest in meditation and yoga. This would be highly favorable for the global industry in the following years. Besides, the latest trend of integrating essential oils in candles for the fragrance that re-energizes the spirit can expect to be a huge hit in the following years.

A rising number of people, especially millennials worldwide are witnessing a rise in their purchasing capacity, augmenting their interest in luxury personal care items that include agarwood essential oil. Also, the rising employment rate across the globe is giving way to several conditions including stress, sleep disorders, immunity disorders, and depression. This is driving consumers towards high-quality and high-performance food & beverages, home care, cosmetics & toiletries, health care, aromatherapy, and feed products with natural ingredients such as agarwood essential oil.

Market Restraints:

The limited availability of agarwood essential oil can be a major restraint for the worldwide market. The demand for the product is a lot higher than the supply in the global market, which is a challenging aspect for the players.

Market Segmentation

By Type:

The agarwood essential oil market, with respect to type, has been considered for compound essential oil as well as pure essential oil. Both these types enjoy significant demand in the worldwide market.

By Raw material:

Some of the key raw materials from which agarwood essential oil is sourced include resin, woods, flowers, and bark.

By Application:

Major applications of agarwood essential oil include the pharmaceutical industry, food and beverage industry, and cosmetics and personal care industry.

By Sales Channel:

The primary sales channels covered in the MRFR study are supermarkets and hypermarkets, E-commerce, convenience stores, and specialty drug stores.

Regional Insights

Asia Pacific occupies the highest stake in the worldwide market, thanks to the soaring number of manufacturers of agarwood essential oils catering to the constantly escalating demand. The demand is significantly high among the exploding urban population with rising disposable incomes. The growth in millennial consumers and surging demand for aromatherapy should also foster sales in the ensuing years. Consumers in India and Japan are increasingly adopting luxury lifestyles and are, therefore, opting for aesthetic products that improve mental conditions, as well as personal care items.

Europe is another important market for agarwood essential oil, as the region houses several highly reputed manufacturers that offer high-quality essential oils. Robust seasonal demand owing to Halloween and the high awareness level about the use of agarwood essential oil in massages as well as aromatherapies have added considerably to the market value in the region. Essential oils are seen as crucial items during therapeutic procedures as they help create a relaxing atmosphere, and are, therefore, generating demand among people interested in meditation and similar activities. Other major end-users in the region are food & beverage, cosmetics, and personal care, and more.

New personal care and cosmetic product formulations boost the agarwood essential oil market in North America. The preference for organic agarwood essential oil is surging in mature markets such as North America. Companies with huge production capacity as well as research and development capabilities are gathering momentum as well as profitability in the agarwood essential oil market. Renowned players are working on bolstering their regional presence and enhancing their production facilities, resulting in a higher market revenue share.

Browse In-depth Market Research Report (110 Pages) on Agarwood Essential Oil: https://www.marketresearchfuture.com/reports/agarwood-essential-oil-market-2555

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