NEW YORK, Dec. 3, 2021 /PRNewswire/ — The agarwood essential oil market is fragmented, and the vendors are using various organic and inorganic growth strategies to compete in the market. According to Technavio, the market size is expected to increase by USD 968.26 million from 2021 to 2026. Moreover, the growth momentum of the market is estimated to accelerate at a CAGR of 6.72%.


Attractive Opportunities in Agarwood Essential Oil Market by Application and Geography - Forecast and Analysis 2022-2026

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Key players and their Offerings

  • Biofinest: The company offers agarwood essential oil for aromatherapy.
  • Biolandes Aromes SAS: The company offers agarwood essential oil such as for perfumery, cosmetics, nutraceutical, and aromatherapy industries.
  • Deve Herbes: The company offers agarwood essential oil such as Deve Herbes Pure Agarwood (Oud) Essential Oil.
  • Essential Oil Wizardry: The company offers agarwood essential oil such as Oudh oil.
  • Gritman Corp.: The company offers agarwood essential oil such as Gritman Agarwood Essential Oil.

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Agarwood Essential Oil Market 2022-2026: Segmentation

  • Application
    • Cosmetics And Personal Care
    • Incense
    • Therapeutics
    • Others
  • Geography
    • Europe
    • North America
    • APAC
    • South America
    • MEA

Based on application, the market share growth of the cosmetics and personal care segment is expected to be significant during the forecast period. The rising health and skincare awareness among consumers has enhanced the need for agarwood essential oils for cosmetics and personal care applications.

Based on geography, Europe is expected to account for 36% of the market’s growth during the forecast period, with Germany and the Netherlands being the key countries. Market growth in this region will be faster than the growth of the market in South America and MEA.

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Drivers and Challenges
The agarwood essential oil market is driven by expanding retail space, health benefits of agarwood essential oils, and increasing applications across various industries. However, factors such as the increasing availability of counterfeit products may impede the market growth.

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Agarwood Essential Oil Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.72%

Market growth 2022-2026

USD 968.26 million

Market structure

Fragmented

YoY growth (%)

6.22

Regional analysis

Europe, North America, APAC, South America, and MEA

Performing market contribution

Europe at 36%

Key consumer countries

US, Germany, The Netherlands, Canada, and China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Biofinest, Biolandes Aromes SAS, Deve Herbes, Essential Oil Wizardry, Gritman Corp., Hoang Giang Agarwood Ltd., Jian ZhongXiang Natural Plants Co. Ltd., Katyani Exports, Maruti Natural Fragrances, and Nusaroma

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com/


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