What is Agarwood oil?
Agarwood oil is also known as Eaglewood oil or Oud oil; this oil is resinous of highly valuable heartwood. This oil is also called Aloeswood in some countries. This beneficial oil can be derived from Aquilaria trees’ heartwood when the tree becomes infected with mold.
After infection, Aquilaria trees produce the dark aromatic resin and these resins called Agar or Aloes.
There are many spices, but Aquilaria Crassna Aquilaria Agallocha can produce Agarwood oil. Oud oil is native in India and some other South-East Asia countries, including the Philippines, Vietnam, and Indonesia.
There are many qualities of Agarwood oil in the market. The quality of Agarwood oil depends on the quality of Agarwood used for the distillation of oil. Usually, longer the distillation time produces a high quality of the oil.
The Oud Oil market segmented on its uses such as personal care, cosmetics, therapeutics, incense, and others. Amongst these used Agarwood oil cosmetic application of Oud oil expected to rise at significant CAGR on Oud oil capabilities.
Oud oil market segmented on the end consumers market, which includes industrial and retail. The retail market can be further sub-segmented into distribution channels, such as online stores, supermarkets, hypermarkets, convince stores, and specialized drug stores.
Global Market Restraints and Derivers:
Agarwood oil is gaining widespread popularity due to its manifold advantages. Some properties of Myrtle Essential Oil driving the Myrtle Essential Oil market, such as anti-stress, anti-rheumatic, and anti-inflammatory Agarwood oil, are useful for treating these diseases and looking effective for pain relief.
Agarwood oil also beneficial for sexual problems and can used in anti-cancer properties. Oud oil can influence the hormones that regulate abnormal periods and stimulate menstruation.
Despite the multiple health benefits, Oud oil market is also witnessing some restraints such as considerable cost owning to depleting the resources and its rarity.
The south Asian countries such as Indonesia, Sri Lanka, Malaysia, Singapore, India, and others are known as the top manufacturers and exporters of the Agarwood Oil market of Europe and North America.
The leading importers of Agarwood oil are France, Germany, Saudi Arabia, China, the United Kingdom, and the United States of America. Asia will be a more potential market for the growing economies of Agarwood Oil.
The most popular countries for producing Agarwood oil are China and India. However, the potential Oud oil market based on its diver’s uses.
Major Key Players:
The leading key players of Agarwood oil, who are running the Oud oil market throughout the world, are Oudh oil, BMV Fragrances Private Limited, Agar Aura, Herbpathy, The MGI Group, Nusaroma, and the like.
The critical underpinning framework of EIRS offers a detail visualization of the following four components.
- Strategic Framework.
- Actionable results to meet business objectives.
- Insights Tools for research data.
- Customers Experience research.
These four components evaluate the current and prospects, untapped avenues, demand, and consumption in the global market by segregation into meaningful assessment regions.
Following are regional segments of Agarwood oil market.
- Asia Pacific
- Africa and the Middle East
- North America
- Latin America
The Oud market is increasing throughout the world besides its limited supplies. Agarwood oil supplies are dependent on some Asian countries, but its demand globally and continuously growing.
Due to the world’s defrosting trend, the Aquilaria tree became rare globally, and now some countries started to plant Aquilaria trees for producing Agarwood. These planted trees are also not fulfilling the demand of Oud market in the world.
There is also a dispute in the quality of planted Agarwood and naturally grown Agarwood. Cultivated Agarwood products are lesser demanded in the Agarwood market compared to organically grown Aqulirai trees.