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Agarwood oil, often referred to as oud oil and eagleswood oil,is a resinous, fragrant and highly valuable heartwood. Agarwood oil is morepopularly called as Aloeswood oil. The essential oil is derived from theheartwood of the agarwood tree when they become infected with a type of mould.Post infection, the tree produces a dark aromatic resin, called aloes or agar.There are a number of popular species but typically aquilaria malaccensis,aquilaria agallocha or aquilaria crassna are used to make the oil. Agarwood oilis native to India as well as several areas of South East Asia includingVietnam, the Philippines and Indonesia. On the backdrop of huge cost andextreme rarity in the wild, the trees from which agarwood oil is obtained arenow cultivated and the resin is actually created by artificial infection andits essential oil extracted by water distillation. There are many grades ofAgarwood oil. The quality of grade is dependent on the grade of wood usedand the length of distillation. Typically, the longer the distillation time thehigher the grade. Owing to its manifold properties, the agarwood oil market isanticipated to expand at a healthy CAGR.
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Segmentation:-
Agarwoodoil market is segmented on the basis of application which includescosmetics & personal care, incense, therapeutics, and others. Amongst theseapplications, therapeutics and cosmetics applications are anticipated to riseat a significant CAGR owing to the capabilities of agarwood oil for instance toalleviate many painful conditions including rheumatism and other forms ofarthritis, promote more frequent urination as well as increasing the quantityof urine produced, treat a number of digestive issues, repair damaged skincells and fight the damage caused by the free radicals, to counter epilepsy,liver complains such as cirrhosis and hepatitis, fever and chills. Furthermorethe agarwood oil can also be used for dealing with delivery pain during andafter birth, nausea and vomiting.
Agarwood oil market is segmented on the basis of the end usewhich includes retail and industrial. The retail segment is furthersub-segmented as distribution channel which includes online stores,hypermarkets/supermarkets, specialized drug stores, and convenience stores.
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Globalmarket drivers and restraints:-
The agarwood oil is gaining widespread popularity on thebackdrop of its manifold advantages offered by it. Some of the properties ofmyrtle essential oil which are primarily driving the myrtle essential oilmarket are its characteristics such as anti-rheumatic, anti-stress,antimicrobial, carminative, anti-asthmatic, antioxidant, analgesic, digestive,aphrodisiac, and the like. The Ayurvedic practitioners have long used agarwoodoil for its ability to provide spiritual and emotional benefits. Theanti-rheumatic, anti-inflammatory and analgesic properties of agarwood oil makeit a useful natural and safe treatment for those looking for effective painrelief. Agarwood oil has gained a widespread acknowledgement on the backdrop ofits aphrodisiac properties associated to its ability to deal with sexualproblems. Agarwood essential oil has been investigated for its anticancerproperties. Agarwood oil can influence the hormones that stimulate menstruationand regulate irregular periods. Despite reflecting multiple health benefits,the agarwood oil market is also witnessing a few restraints such as its rarityand huge cost owing to the depleting resources.
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RegionalOutlook:-
The South Asian countries such as India, Indonesia, Singapore,Malaysia, Sri Lanka and others lead as the top exporters as well asmanufacturers of the agarwood oil market followed by North America and Europe.Most imports have been witnessed by the countries like U.S, Germany, U.K,China, Saudi Arabia, France, and others. Asia will remain as a potential marketattributing to the growing economies of India and China. Furthermore, greatpotential in the agarwood oil market can be attributed to its diverse uses.
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Major Key players:-
Someof the major key who are driving the agarwood oil market globally are AgarAura, BMV Fragrances Private Limited, Oudh Oil, Nusaroma, THE MJI GROUP,Herbpathy and the like.
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