The worldwide market for agarwood essential oil is expected to encompass a higher expansion rate, as a result of higher awareness in relation to the usage of the agarwood essential oil during aromatherapy on account of its several healing attributes. The implementation of aromatherapy and agarwood essential oil is rising in the area of medical science, in that way enhancing requirement all over the world. Rising customer experimentation in relation to the eccentric therapies for a variety of health troubles is backing up the expansion of the aromatherapy and essential oil market. A present, the agarwood essential oil has been acknowledged in the form of an effective medicine for asthma, in addition, to also to improve mental practicality. The aptitude to treat several medical conditions has now prepared agarwood essential oil an accepted product amid customer, as well as this rising popularity is likely to support the requirement for agarwood essential oil all through the years to come.
The worldwide market for agarwood essential oil is projected to account for US$ 89.3 Million on the basis of value before the end of 2018, as well as is anticipated to account for US$ 181.1 Million on the basis of value before the end of 2026. The agarwood essential oil sales revenue is likely to record a 9.2% CAGR on the basis of revenue throughout 2018-2026.
Region-wise, Europe is a foremost exporter of agarwood essential oil, wherein Germany and France curb the major position. Accompanying the European nations, India, Brazil, and the U.S. are the other key exporting nations, which adds to the overall expansion of the worldwide market for agarwood essential oil.
Amid the nature categories, the conventional category is likely to be leading in the worldwide market for agarwood essential oil, with a market revenue share of 97.5% towards the end of 2018, and this is likely to boost up to 96.9% before the end of 2026. Amid the end-use categories, the cosmetics & personal care industry category is likely to capture a lion’s share in the worldwide market for agarwood essential oil, with a market revenue share of 98.4% before the end of 2018, & this is likely to touch 98.3% before the end of 2026. In terms of the sales channel, the direct category will capture 87.4% of the market share by 2018, & will touch 85.7% by 2026.
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The foremost companies active in the worldwide market are Essential Oils Company, Gritman Essential Oils, Essential Oil Wizardry, Living Libations, Ji’an Zhongxiang Natural Plants Co., Ltd., Pachara Innovation CO.,LTD, Biolandes, Biofinest USA, HYSSES Pte Ltd., Grandawood, Agarwood Oil Inc., ASSAM AROMAS, Katyani Exports, Hoang Giang Agarwood Ltd., Edens Garden, Agro Products, Deve Herbes, Dauper SA, Nusaroma, The Imperial Oud Co and others.