Sandalwood Oil Market Strategies and Resources to Grow Your Company, 2027

Research Reports

Mar 21, 2023

Market Research Future Insights

According to MRFR, the global sandalwood oil market industry is expected to register a CAGR of 6.99% during the forecast period 2020-2027 hold a value of over USD 165.5 Million by 2027.

The sandalwood oil market refers to the global market for the production, distribution, and sale of sandalwood oil, a high-value essential oil derived from the heartwood of the sandalwood tree. Sandalwood oil is used in various industries, including cosmetics, perfumes, and aromatherapy, due to its unique fragrance and therapeutic properties. The market is influenced by factors such as supply and demand, prices, regulatory policies, and technological advancements in production methods.

The COVID-19 pandemic the disruption of global supply chains, restrictions on travel and movement, and the closure of production facilities have all contributed to a decrease in the supply of sandalwood oil. At the same time, the demand for sandalwood oil has remained relatively stable, as the product is used in many consumer goods and personal care products. The pandemic has also led to changes in consumer behavior, with many individuals now more focused on health and wellness. This has led to an increased demand for natural and organic products, including sandalwood oil, which is often viewed as a natural and sustainable alternative to synthetic fragrances and ingredients. the pandemic has led to an increase in the use of e-commerce platforms and digital marketplaces for the sale and distribution of goods. Some of the major driving factors include Growing demand for natural and organic products, Rising popularity of aromatherapy, and Increasing disposable income. Limited availability of sandalwood trees, High cost of sandalwood oil, and Environmental concerns is expected to restrain the market growth during the forecast period.

SEGMENTATION

The sandalwood oil market can be segmented on the basis of type, and application. The market can be segmented based on the type of sandalwood oil, including natural and synthetic. The market can also be segmented based on the application, such as personal care, pharmaceuticals, aromatherapy, among others.

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REGIONAL ANAYLSIS

Asia-Pacific is the largest producer and consumer of sandalwood oil, accounting for more than 80% of the global market. India is the largest producer of sandalwood oil, with Australia and Indonesia being other significant producers. The region is also the largest consumer of sandalwood oil, driven by the traditional use of sandalwood in various cultural and religious practices. North America is a significant market for sandalwood oil, driven by the increasing demand for natural and organic products in the cosmetics and personal care industry.

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KEY PLAYERS

Some of the key companies include Albert Vieille SAS, Doterra International LLC, Eden botanicals, Santanol Group, Plant Therapy Essential Oils, Aditi Essentials, Haldin International, Iangyin Healthway, Kanta Enterprises, PerfumersWorld Ltd., Ancient Healer, Khadi Natural, Vedic Vaani, Cliara Essential Oils, and Sallamander Concepts Pty Ltd.

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