Agarwood essential oil market will have Biofinest, Biolandes Aromes SAS, and Deve Herbes as major participants during the forecast period
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%.
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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
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
Growth momentum & CAGR
Accelerate at a CAGR of 6.72%
Market growth 2022-2026
USD 968.26 million
YoY growth (%)
Europe, North America, APAC, South America, and MEA
Performing market contribution
Europe at 36%
Key consumer countries
US, Germany, The Netherlands, Canada, and China
Leading companies, competitive strategies, consumer engagement scope
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
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
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