The global sandalwood oil market is expected to grow by USD 32.79 million as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 6%.
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Technavio has announced its latest market research report titled Global Sandalwood Oil Market 2020-2024 (Graphic: Business Wire)
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Read the 120-page report with TOC on "Sandalwood Oil Market Analysis Report by Type (Indian sandalwood oil, Australian sandalwood oil, and Others), Geography (APAC, North America, Europe, South America, and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by the numerous benefits of sandalwood oil. In addition, the increasing prominence of private-label brands is anticipated to boost the growth of the sandalwood oil market.
Sandalwood oil is antiseptic, anti-inflammatory, diuretic, antispasmodic, and cicatrisant. These properties are increasing its use as an astringent, carminative, disinfectant, and emollient. It also works as an expectorant, hypotensive agent, memory booster, and sedative. Moreover, it helps in relieving cramps, aches, coughs, and helps to relax intestines and abdominal muscles and facilitate the removal of gases. Also, its fragrance keeps microbes and small insects away. Many such benefits are increasing the consumption of sandalwood oil, which is driving the growth of the market.
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Major Five Sandalwood Oil Companies:
ALBERT VIEILLE SAS
ALBERT VIEILLE SAS operates its business through a unified segment. The company offers a line of products such as Sandalwood Essential oil Indonesia and Sandalwood Essential oil Australia.
Avi Naturals operates its business through segments such as Natural essential oils, Carrier oils, Certified organic essential oil, Hydrosol, Dried herbs, and herbal extracts, Natural cosmetic butters, and Other. The company offers 100 percent pure and natural sandalwood oil that is used in cosmetics and sacred rituals in India.
Eden Botanicals operates its business through a unified segment. The company offers organic sandalwood oil and Hawaiian organic sandalwood oil.
Karnataka Soaps & Detergents Ltd.
Karnataka Soaps & Detergents Ltd. operates its business through a unified segment. The company offers a wide range of products such as Mysore Sandal Oil, Mysore Sandal Coconut Oil, and Mysore Sandal Massage Oil.
Katyani Exports operates its business through a unified segment. The company offers Indian sandalwood oil extracted through the steam distillation process.
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Sandalwood Oil Market Type Outlook (Revenue, USD Million, 2020-2024)
Indian sandalwood oil
Australian sandalwood oil
Sandalwood Oil Market Geography Outlook (Revenue, USD Million, 2020-2024)
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