The trend of grooming is growing globally at a fast pace; consumers are using different cosmetic products at a time for different purposes. Consumers are using grooming oils for hair/beard and skin. Also, various perfumes containing essential oils are used for a pleasant and long-lasting fragrance.
The trend of grooming is creating a massive demand for personal care and cosmetic products such as perfumes and grooming oils. Agarwood essential oil is widely used in the perfumes and grooming oils. Hence, the increasing demand for such products is expected to drive the agarwood essential oil market growth significantly.
In addition, the application of agarwood essential oil is increasing in aromatherapy, as it soothes the skin and gives relief to stress. The use of agarwood essential oil in aromatherapy is also expected to give a significant growth to the market in the future.
Also, the consumption of other personal care and cosmetic products such as perfumes, skin cream, and deodorant is growing globally, which would have a prominent impact on the agarwood essential oil mark
Find Out More about the Report Coverage
- BIOLANDES SAS
- Tien Phuoc Co., Ltd (Grandawood)
- Hoang Giang Agarwood Ltd.
- Dauper S.A.
- Katyani Exports
- Gritman Essential Oils
- Essential Oil Wizardry
- Biofinest USA
- The Imperial Oud Co
- Deve Herbes
- HYSSES Pte Ltd.
- WEFIVE group
- Asia Plantation Capital Pte. Ltd.
- Albert Vieille SAS
- THE MJI GROUP
- Ji'an Zhongxiang Natural Plants Co., Ltd.
- Agarvina Co., LTD
- Edens Garden
- ASSAM AROMAS
Cosmetic and Personal Care Manufacturers Leveraging Benefits of Agarwood Essential Oil for Skin
The personal care and cosmetics industry is anticipated to hold a significant amount of market share in the global agarwood essential market. Agarwood essential oil has various distinct properties such as anti-inflammatory and anti-microbial properties. These properties make it a very beneficial product to use in personal care and cosmetic products.
Agarwood essential oil’s anti-inflammatory properties help relieve skin irritation caused by allergic reactions, bug bites, and sunburns. In addition, agarwood essential oil’s anti-microbial activity helps in fighting bacteria that causes pimples and acne. Other than these properties agarwood essential oil contains various antioxidants that make hair and skin glow and repair dead skin. This is less likely to cause skin cancer.
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Growing Demand for Agarwood Essential Oil for Rheumatoid Arthritis and Other Arthritic Conditions
Among the various properties of agarwood essential oil, its antiarthritic properties help to reduce the inflammation and pain associated with arthritis and rheumatism treatment. The diuretic qualities of agarwood essential oil flush help out uric acid and other toxins from the body by promoting frequent urination. This helps to reduce stiffness, swelling, and pain in the body.
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Significant Usage of Agarwood Essential Oil in the Pharmaceutical Industry
Due to the anti-inflammatory properties of agarwood essential oil, it helps calm cough caused due to inflammation of the sensitive tissues in the airway. This oil can be massaged on the chest and throat, which helps sensitive tissues return to their normal state.
Agarwood essential oil also has anti-asthmatic, anti-convulsant properties, which make it useful in the medicinal products. The demand for agarwood essential oil in the pharmaceutical industry is stable.
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Synthetic Biological Production of Agarwood Essential Oil to Fulfill the Increasing Demand
With the growing demand for agarwood essential oil, companies across the globe are trying to produce essential oil biologically in in-vitro conditions. This trend is expected to fulfill the increasing demand for agarwood aroma from the fragrance industry.
For instance, in June 2014, Evolva, a Swiss synthetic biology company, collaborated with the Malaysian Biotechnology Corporation and Universiti Malaysia Pahang, to develop engineered yeast that can produce some of the aromatic compounds found in agarwood. This initiative was done in order to limit the illegal cutting and trading of agarwood trees and their derived products.
A comprehensive view of the global agarwood essential oil market has led our analysts to conclude that the market is growing at an impressive growth rate. It is estimated that the largest shareholding regions in 2019 are Middle East and Africa and Asia Pacific.
The analysts observed that, there was a huge shift among consumers from conventional agarwood essential oil to the organic form, due to the rising health issues caused by synthetic products. This shift is likely to result in an increase in the demand for agarwood essential oil throughout the forecast period.
The use of agarwood essential oil in the cosmetic and personal care industry is high, under which, the aromatherapy segment is expected to have a relatively high market share due to high awareness regarding the healing properties of agarwood essential oil. The increasing consumption of cosmetic and personal care products and increasing grooming trend is spurring the demand for agarwood essential.
New cosmetic and personal care product formulation will give rise to the agarwood essential oil market. The demand for organic agarwood essential oil is increasing in the mature markets such as North America and Europe.
Companies with large production capacity and research and development capabilities will gather momentum and profitability in the global agarwood essential oil market. Leading market players who are expanding their regional presence and increasing their production facilities will continue to grow and have a vast market revenue share.
However, higher dependency on imported goods (agarwood) could restrain the growth of the global agarwood essential oil market.
Key Segments of the Global Agarwood Essential Oil Market
PMR’s study on the global agarwood essential oil market offers information divided into 4 important segments- nature, end use, sales channels, and region.
Key Questions Answered in PMR’s Global Agarwood Essential Oil Market
- Which region will have the highest market share in the global agarwood essential oil market over the forecasted period?
- Which region is experiencing the highest growth (CAGR)?
- Which factors are impacting the global agarwood essential oil market?
- Which are the global trends in the agarwood essential oil market that are impacting the market?
- What strategies need to be adopted by the emerging players in the global agarwood essential oil market to capture the opportunities in various regions?
- What is the market structure of the global agarwood essential oil market?