Agarwood Essential Oil Market Size to grow by USD 1128.9 million between 2024-2028
According to a research report “ Agarwood Essential Oil Market” by Application (Cosmetics and personal care, Incense, Therapeutics, Others) Type (Natural agarwood essential oil, Organic agarwood essential oil) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1128.9 million, at a CAGR of 6.78% during the forecast period. The global agarwood essential oil market is poised for significant expansion due to the increasing retail space worldwide. Notable retailers such as Walmart, Costco Wholesale Corporation, Kroger, and Schwarz GmbH & Co. KG are key players in this sector. The robust economic growth in APAC, particularly in developing countries, is driving the retail market's rapid expansion. Agarwood essential oils are primarily distributed through supermarkets, hypermarkets, convenience stores, discount stores, and online portals. E-commerce platforms are gaining traction among consumers, and their popularity is expected to boost market growth during the forecast period..
Browse market data tables, figures, and in-depth TOC on “Agarwood Essential Oil Market” by Application (Cosmetics and personal care, Incense, Therapeutics, Others) Type (Natural agarwood essential oil, Organic agarwood essential oil) Geography (Europe, North America, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Application, the Cosmetics and personal care segment is projected to dominate the market size in 2024
The Agarwood Essential Oil market represents a significant business opportunity due to its unique aroma and medicinal properties. Demand for this precious oil is increasing in the perfume, cosmetics, and aromatherapy industries. Key market drivers include rising disposable income, growing awareness of natural health and wellness, and expanding applications in food and beverage industries. Market players are focusing on sustainable sourcing and innovation to meet growing demand and maintain competitiveness.
By Type, Natural agarwood essential oil segment is expected to hold the largest market size for the year 2024
The Agarwood Essential Oil market represents a significant business opportunity due to its unique aroma and therapeutic properties. This precious essential oil is derived from the Agarwood tree, which is highly valued for its distinct fragrance and medicinal benefits. The market is driven by increasing demand from the perfume, cosmetics, and aromatherapy industries, as well as traditional medicinal practices. Key players in the market focus on sustainable sourcing and innovation to meet growing consumer demand and maintain competitiveness.
Europe is forecasted to hold the largest market size by region in 2024
The Agarwood Essential Oil market is experiencing significant growth due to its increasing demand in the perfume, cosmetics, and aromatherapy industries. This precious oil, derived from the Agar tree, offers numerous health benefits and is highly valued for its distinct aroma. Key players in this market are focusing on sustainable sourcing and innovative product development to cater to the evolving consumer preferences. The market is expected to continue its upward trajectory, driven by these factors and increasing global awareness about the therapeutic properties of Agarwood Essential Oil.
The Agarwood Essential Oil Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Agarwood essential oil market is witnessing significant growth due to its numerous health benefits and increasing popularity in the alternative medicine and aromatherapy industries. Agarwood, also known as Oud oil, is derived from the resin of the Agar tree, which forms when the tree's heartwood becomes infected with a specific type of fungus. This precious essential oil is known for its rich, complex aroma and therapeutic properties. Agarwood oil is used as an antidepressant, aiding in the alleviation of anxiety and depression. It also promotes sleep and helps calm the nerves. Furthermore, it has anti-inflammatory properties, making it effective in reducing inflammation. Recent studies suggest that Agarwood oil may also have preventive healthcare benefits, including the potential to inhibit cancer cells. The Agarwood essential oil market includes various other essential oils such as Citrus, Bergamot, Geranium, Carnation, Jasmine, Rose, and Sandalwood. These essential oils are extracted using processes like steam distillation and water distillation. Agarwood oil, being a hydrophobic liquid, is extracted primarily from the resin or bark of the tree. Organic essential oils are also gaining popularity in the market due to their natural and healthier extraction methods. Apart from its therapeutic uses, Agarwood oil is also used in perfumes, cosmetics, and food industries for its unique aroma compounds. Its complex and rich aroma is often compared to that of Citrus, Bergamot, Jasmine, Rose, and Sandalwood essential oils. Overall, the Agarwood essential oil market is expected to grow significantly due to its diverse applications and health benefits.
Market Research Overview
The Agarwood Essential Oil market encompasses a range of essential oils derived from Agarwood, also known as Oud oil, which is obtained from the resin of the Agar tree. Agarwood oil is renowned for its unique aroma and healing properties, making it a popular ingredient in various industries, including cosmetics, skincare, and hair care. In the cosmetics industry, Agarwood oil is used for its antidepressant and calming effects on the nerves, making it an ideal addition to skincare products for those suffering from stress-related skin issues. Peppermint oil, Citrus essential oil, Bergamot oil, Geranium, Carnation, Jasmine, Rose, and Sandalwood are other essential oils commonly used in cosmetics for their diverse health advantages. Medical science continues to explore the healing properties of Agarwood oil, with research suggesting its potential use as an anti-inflammatory agent, antioxidant, and even in the prevention and treatment of cancer cells. The aromatherapy industry also benefits from Agarwood oil's calming and therapeutic properties. The Agarwood oil market caters to a diverse range of consumers, from urban populations seeking convenience through e-commerce and supermarkets to those preferring organic essential oils and specialty drug stores. The essential oils are extracted through steam distillation or water distillation processes, resulting in hydrophobic liquids rich in aroma compounds. Quality control is crucial in the production and distribution of these essential oils to ensure their authenticity and therapeutic benefits. Apart from Agarwood oil, other essential oils like Peppermint oil, Citrus essential oil, and Bergamot oil are widely used in the cosmetics industry for their various health benefits. These essential oils are derived from flowers, bark, resin, and wood through various extraction methods. The convenience of essential oils, their diverse health advantages, and the growing trend towards preventive healthcare have contributed to the significant growth of the Agarwood Essential Oil market.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
