Sandalwood Oil Market-Overview
The Sandalwood oil market is estimated to gain a CAGR of 6.99% and achieve income worth USD 0.2 Billion by the end of 2032.
Sandalwood oil is in high demand due to rising aesthetic consciousness. Sandalwood oil is utilized as an anti-wrinkle component, facial cleaning oil, and moisturizing agent in the cosmetic and personal care industries, growing the overall sandalwood oil market share.
The North America sandalwood oil market is experiencing steady growth, driven by the increasing demand for natural and sustainable personal care products. Sandalwood oil, derived from the sandalwood tree, is known for its aromatic properties and is widely used in perfumes, cosmetics, and aromatherapy.
Mounting consumer calls for commercial consumer items such as room fresheners, incense sticks, and aromatherapeutic mixing due to rising consumer desire for natural aromatic products will drive market expansion further in the forecast.
Competitive Analysis
The mindset of hypervigilance in the aftermath of the pandemic is intended to guide market decisions throughout the projected period. The essential policies being developed by government bodies worldwide are thought to have a powerful role in the global advancement of the market. The restructuring of the market's fundamental operations is expected to impact the market shortly. The upsurge in innovative technologies in the global supply chain is estimated to generate opportunities during the forecast period. The market is projected to witness an improvement in growth cues in the near future. The reclaimed market potential is projected to augment the worldwide market's progress. The market's production stability is predicted to be variable. Each manufacturer is expected to make microeconomic decisions to ensure long-term business growth and continuity during the forecast timeframe. The COVID-19 pandemic's drastic changes in the global financial intermediation structure are believed to influence how firms acquire finance in the comparable period.
The sandalwood oil key market players are Doterra International LLC (Utah), Cliara Essential Oils (Sri Lanka), Eden botanicals (US), Santanol Group (Australia), Kanta Enterprises (India), Plant Therapy Essential Oils (US), Aditi Essentials (India), Haldin International (Indonesia), Iangyin Healthway (Japan), Albert Vieille SAS (France), PerfumersWorld Ltd. (Thailand), Ancient Healer (US), Khadi Natural (India), Vedic Vaani (India), and Sallamander Concepts Pty Ltd (South Africa).
Segmental Analysis
The segmental overview of the sandalwood oil market is conducted based on type, applications, and distribution channel. The sandalwood market is divided into two types: natural and synthetic. Sandalwood oil is categorized according to its application into personal care goods, medicines, and aromatherapy. Sandalwood oil is classified into two types based on its distribution channel: store-based and non-store-based.
Industry Updates:
Nov 2021 Quintis Sandalwood, one of the world's major suppliers of Indian sandalwood oil to the fragrance, aromatherapy, and cosmetics sectors, recognized that a shift away from old distillation procedures was required to meet the rising oil demand more sustainably. As a result, the business created a groundbreaking AUD $700,000 commercial Continuous Steam Distillation machine, which was recently inaugurated at the company's 60,000sqm distillation facility in Albany, Western Australia. The unique, fully automated process was inspired by continuous in-feed and out-feed systems frequently used in papermaking, and the benefits have been spectacular, as Quintis Sandalwood can now generate larger amounts of oil at faster speeds.
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