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Los Angeles, CA — (SBWIRE) — 03/19/2019 — Agarwood, also known as Aloeswood is one of the most precious, rare and most expensive essential oil in existence today. The production of resin can take many years in the wild, like a good wine. Due to its huge cost and extreme rarity in the wild, trees are now cultivated and the resin is actually created artificially and then extracted by water distillation. Agarwood plantations have been developed in a number of countries, such as Sri Lanka and Malyasia as commercial crops specially to produce agar wood essential oils. Agarwood essential oil has a religious, traditional as well as cultural uses in many parts of the world. Superior quality agar wood is one of the most costly raw material in the world which makes agar wood essential oils among the expensive essential oil available commercially.
Key demand of Agarwood Essential Oil is driven by innovative application in personal use and pharmaceutical industry. Increasing consumer preference for natural cosmetic products & high quality aromatic fragrances is driving the market growth. The rising popularity of agarwood essential oil in aromatherapy for therapeutic effects, is creating a huge demand worldwide.
The agar wood essential oils market is highly demandable, since the consumer are more inclined towards usage of safe ingredients. Scarcity of natural supply and the availability of chemical and synthetic substitutes can prove to be a threat for the agar wood essential oils market. Also the lack of proper regulatory support from government can further restrain agar wood essential oils market over the forecast period.
This report focuses on Agarwood Essential Oil volume and value at global level, regional level and company level. From a global perspective, this report represents overall Agarwood Essential Oil market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.