Product Code: PM3654
The global agarwood oil market size is expected to reach USD 430.07 million by 2032, according to a new study by Polaris Market Research. The report "Agarwood Oil Market Share, Size, Trends, Industry Analysis Report, By Nature (Organic and Conventional); By Application; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rapidly growing consumer expenditure on natural products and surging preferences for various types of authentic essential oil products among health-conscious people globally, coupled with the growing number of manufacturers incorporating agarwood oil products into their product offerings, are prominent factors fostering the market growth and demand. The rapid development of advanced extraction and distillation technologies being performed by key market companies that have improved the efficiency and quality of agarwood oil extraction is likely to impact the market positively.
For instance, in March 2023, Electimuss unveiled its new range of luxury fragrances, Gladiator Oud, with a multi-sensory experience and elegance. The newly launched perfume is a powerful and statement fragrance with depth, richness, and better transportation qualities, expanding the company's product offering and customer base.
The wellness and personal care sectors have shifted towards natural and organic ingredients in recent years. Hence, due to agarwood oil's therapeutic properties, the product is gaining huge traction and being adopted in various wellness products, including aromatherapy blends, massage oils, natural skincare formulations, and bath products, which in turn, pushing the growth of the market forward at a significant pace.
In addition, the growing prevalence of making consumers aware and educated about the unique properties and benefits of agarwood oil can also create opportunities for market expansion. Thereby, leading market players conduct awareness programs, participate in industry events and trade shows, and engage with consumers through digital channels, which helps them build brand reputation, gain consumer attention, and stimulate demand.
Agarwood Oil Market Report Highlights
Organic segment is expected to grow at healthy CAGR during the anticipated period, on account of its widespread use in numerous applications including medication, personal care, and therapeutics
Cosmetics & personal care segment accounted for largest market share in 2022, mainly due to rising consumer spending and expenditure of premium cosmetic or personal care products
E-commerce segment is likely to hold substantial revenue share over the forecast period, mainly accelerated to increasing mobile and internet penetration and number of companies shifting to online shopping models
The Asia Pacific region dominated the global market for agarwood oil in 2022, owing to significant growth in cosmetics industry and rising investments on research & development activities to develop new product applications
The global key market players include: The Imperial Oud Company, Albert Vielle SAS, Zhongxiang Natural Plants, Hoang Giang Agarwood, Gritman Essential Oils, ASSAM Aromas, and Tien Phuoc
Polaris Market Research has segmented the agarwood oil market report based on nature, application, distribution channel, and region:
Agarwood Oil, Nature Outlook (Revenue - USD Million, 2019 - 2032)
Agarwood Oil, Application Outlook (Revenue - USD Million, 2019 - 2032)
- Cosmetics & Personal Care
- Pharmaceuticals
- Food & Beverages
Agarwood Oil, Distribution Channel Outlook (Revenue - USD Million, 2019 - 2032)
- Specialty Drug Stores
- Supermarkets & Hypermarkets
- E-Commerce
- Convenience Stores
- Others
Agarwood Oil, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Agarwood Oil Market Insights
- 4.1. Agarwood Oil Market - Distribution Channel Snapshot
- 4.2. Agarwood Oil Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing prevalence and popularity of agarwood oil
- 4.2.1.2. Growing focus of major research & development institutes
- 4.2.2. Restraints and Challenges
- 4.2.2.1. limited availability of agarwood essential oil
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Agarwood Oil Market Distribution Channel Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Agarwood Oil Market, by Nature
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 5.3. Organic
- 5.3.1. Global Agarwood Oil Market, by Organic, by Region, 2019-2032 (USD Million)
- 5.4. Conventional
- 5.4.1. Global Agarwood Oil Market, by Conventional, by Region, 2019-2032 (USD Million)
6. Global Agarwood Oil Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 6.3. Cosmetics & Personal Care
- 6.3.1. Global Agarwood Oil Market, by Cosmetics & Personal Care, by Region, 2019-2032 (USD Million)
- 6.4. Pharmaceuticals
- 6.4.1. Global Agarwood Oil Market, by Pharmaceuticals, by Region, 2019-2032 (USD Million)
- 6.5. Food & Beverages
- 6.5.1. Global Agarwood Oil Market, by Food & Beverages, by Region, 2019-2032 (USD Million)
7. Global Agarwood Oil Market, by Distribution Channel
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 7.3. Specialty Drug Stores
- 7.3.1. Global Agarwood Oil Market, by Specialty Drug Stores, By Region, 2019-2032 (USD Million)
- 7.4. Supermarkets & Hypermarkets
- 7.4.1. Global Agarwood Oil Market, by Supermarkets & Hypermarkets, By Region, 2019-2032 (USD Million)
- 7.5. E-Commerce
- 7.5.1. Global Agarwood Oil Market, by E-Commerce, By Region, 2019-2032 (USD Million)
- 7.6. Convenience Stores
- 7.6.1. Global Agarwood Oil Market, by Convenience Stores, By Region, 2019-2032 (USD Million)
- 7.7. Others
- 7.7.1. Global Agarwood Oil Market, by Others, By Region, 2019-2032 (USD Million)
8. Global Agarwood Oil Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Agarwood Oil Market Assessment, By Geography, 2019-2032 (USD Million)
- 8.3. Agarwood Oil Market - North America
- 8.3.1. North America: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.3.2. North America: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.3.3. North America: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.3.4. Agarwood Oil Market - U.S.
- 8.3.4.1. U.S.: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.3.4.2. U.S.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.3.4.3. U.S.: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.3.5. Agarwood Oil Market - Canada
- 8.3.5.1. Canada: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.3.5.2. Canada.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.3.5.3. Canada: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.4. Agarwood Oil Market - Europe
- 8.4.1. Europe: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.4.2. Europe.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.3. Europe: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.4.4. Agarwood Oil Market - UK
- 8.4.4.1. UK: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.4.4.2. UK.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.4.3. UK: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.4.5. Agarwood Oil Market - France
- 8.4.5.1. France: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.4.5.2. France.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.5.3. France: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.4.6. Agarwood Oil Market - Germany
- 8.4.6.1. Germany: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.4.6.2. Germany.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.6.3. Germany: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.4.7. Agarwood Oil Market - Italy
- 8.4.7.1. Italy: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.4.7.2. Italy.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.7.3. Italy: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.4.8. Agarwood Oil Market - Spain
- 8.4.8.1. Spain: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.4.8.2. Spain.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.8.3. Spain: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.4.9. Agarwood Oil Market - Netherlands
- 8.4.9.1. Netherlands: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.4.9.2. Netherlands.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.9.3. Netherlands: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.4.10. Agarwood Oil Market - Russia
- 8.4.10.1. Russia: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.4.10.2. Russia.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.10.3. Russia: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.5. Agarwood Oil Market - Asia Pacific
- 8.5.1. Asia Pacific: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.5.2. Asia Pacific.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.3. Asia Pacific: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.5.4. Agarwood Oil Market - China
- 8.5.4.1. China: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.5.4.2. China.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.4.3. China: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.5.5. Agarwood Oil Market - India
- 8.5.5.1. India: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.5.5.2. India.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.5.3. India: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.5.6. Agarwood Oil Market - Malaysia
- 8.5.6.1. Malaysia: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.5.6.2. Malaysia.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.6.3. Malaysia: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.5.7. Agarwood Oil Market - Japan
- 8.5.7.1. Japan: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.5.7.2. Japan.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.7.3. Japan: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.5.8. Agarwood Oil Market - Indonesia
- 8.5.8.1. Indonesia: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.5.8.2. Indonesia.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.8.3. Indonesia: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.5.9. Agarwood Oil Market - South Korea
- 8.5.9.1. South Korea: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.5.9.2. South Korea.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.9.3. South Korea: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.6. Agarwood Oil Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.6.2. Middle East & Africa.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.3. Middle East & Africa: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.6.4. Agarwood Oil Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.6.4.2. Saudi Arabia.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.4.3. Saudi Arabia: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.6.5. Agarwood Oil Market - UAE
- 8.6.5.1. UAE: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.6.5.2. UAE.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.5.3. UAE: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.6.6. Agarwood Oil Market - Israel
- 8.6.6.1. Israel: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.6.6.2. Israel.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.6.3. Israel: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.6.7. Agarwood Oil Market - South Africa
- 8.6.7.1. South Africa: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.6.7.2. South Africa.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.7.3. South Africa: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.7. Agarwood Oil Market - Latin America
- 8.7.1. Latin America: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.7.2. Latin America.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.7.3. Latin America: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.7.4. Agarwood Oil Market - Mexico
- 8.7.4.1. Mexico: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.7.4.2. Mexico.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.7.4.3. Mexico: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.7.5. Agarwood Oil Market - Brazil
- 8.7.5.1. Brazil: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.7.5.2. Brazil.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.7.5.3. Brazil: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
- 8.7.6. Agarwood Oil Market - Argentina
- 8.7.6.1. Argentina: Agarwood Oil Market, by Nature, 2019-2032 (USD Million)
- 8.7.6.2. Argentina.: Agarwood Oil Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.7.6.3. Argentina: Agarwood Oil Market, by Application, 2019-2032 (USD Million)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Agarvina
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Albert Vielle SAS
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Asia Plantation Capital
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Biofinest USA
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Dauper
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Deve Herbs
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Eden's Garden
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Essential Oil Wizardry
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Gritman Essential Oils
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Hoang Giang Agarwood
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. HYSSES
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Imperial Oud Company
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. Ji'an Zhongxiang Natural Plants
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. Katyani Exports
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
- 10.15. The MJI Group
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development
- 10.16. Tien Phuoc
- 10.16.1. Company Overview
- 10.16.2. Financial Performance
- 10.16.3. Product Benchmarking
- 10.16.4. Recent Development
- 10.17. WEFIVE Group
- 10.17.1. Company Overview
- 10.17.2. Financial Performance
- 10.17.3. Product Benchmarking
- 10.17.4. Recent Development