Authored By: Sarah
15 Jan 2024

Aromatic Gold Rush: Agarwood Essential Oil Market to Surge by USD 1,075.28 Million| 

In a fragrant twist, the Agarwood Essential Oil Market is set to witness a staggering increase of USD 1,075.28 million from 2023 to 2027, projecting a robust CAGR of 6.86%. Originally valued at USD 1,075.28 million in 2017, Global retail expansion drives market growth, infiltrating supermarkets, hypermarkets, online portals, and beyond. Consumers favor its health benefits like moisturizing, skin softening, microbial infection reduction, and sun protection.

Retail Revelation: Agarwood Essential Oil Adorns Shelves: Growing Appetite of Health-Conscious Consumers Fuels Agarwood Essential Oil Sales. Supermarkets and hypermarkets report a significant uptick, fueled by growing awareness of skincare benefits. The cosmetics and personal care segment spearheads the market's diversification, contributing a substantial 40% to overall growth.

Scented Trends: When it comes to the trends of the Agarwood Essential Oil Market, the Global Demand for Agarwood Essential Oil is propelled by Aromatherapy Trend as it is known for its healing properties and relaxation benefits. The growing consumer affinity for aromatherapy is anticipated to be a major driver for the global agarwood essential oil market.

Market Players' Strategic Initiatives in the Fragrant Landscape

Market players are orchestrating strategic alliances, partnerships, mergers, acquisitions, and product launches to enhance their aromatic footprint. Leading players like Biofinest, Biolandes SAS, and Deve Herbes offer therapeutic-grade agarwood essential oils, contributing to the competitive landscape of the market. Our report comes with data-backed insights of market players analyzed for strengths, weaknesses, and market positioning, the agarwood essential oil market promises not just growth but a fragrant revolution in the skincare and aromatherapy spheres.

Global Agarwood Essential Oil Market Size, Share, Growth

Global Market Study on Agarwood Essential Oil Market Analysis

Noteworthy market options include:

  • Biofinest's therapeutic-grade agarwood essential oil.
  • Biolandes' agarwood essential oil, featuring agarwood P2 cites.
  • Deveherbes' agarwood essential oil, specifically aquilaria agallacha.

Scenting the Future: Market Forecast and Analysis

As the market foresees a fragrant future, the Technavio's Agarwood Essential Oil Market Report dives into qualitative and quantitative analysis, categorizing companies based on purity, focus, industry orientation, and overall market strength. The forecast, on its whimsical journey into agarwood essential oil, envisions not just market growth but a fragrant revolution elevating the realms of skincare and aromatherapy.

Agarwood Essential Oil Market Highlights

  • The Agarwood essential oil market is segmented by Application (Cosmetics and personal care, Incense, Therapeutics, and Others), Type (Natural agarwood essential oil and Organic agarwood essential oil), and Geography (Europe, North America, APAC, South America, and Middle East and Africa).
  • Europe led the market with 36% of the market growth set to originate from this region during the forecast period.
  • Expanding retail space is one of the primary factors driving the growth of the agarwood essential oil market. The report provides a detailed study of this and all the other drivers that will boost market growth. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. 
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