Registering a CAGR of 6.99% over the forecast period of 2022-2027, the sandalwood oil market is anticipated to reach the market value of US$ 165.5 million in the year 2027.
Sandalwood oil, also known as santal oil, is an important oil obtained by processing chips and billets of sandalwood trees through steam distillation. It is mostly used in the cosmetic and personal care industry to produce commodities such as soaps, shampoos, and lotions. Sandalwood oil has been usually used as an antiseptic and astringent to treat headache, stomachache, and urinary disorders. Now, it is most commonly used in aromatherapy to improve psychological well-being. An increase in the number of working populations in the developing economies has led to improved stress levels, which inclines consumers toward spas for relaxation. This finally has a positive impact on the sandalwood oil market since it is a widely used essential oil for aromatherapy. Growth in demand for natural perfume over synthetic perfume is a major driver for the sandalwood oil market. With increase in disposable income of the population, there is an escalation in the demand for personal care products such as aromatic soaps, shampoos, and lotions, which drives the progress of the market. Still, high price of sandalwood oil is expected to hinder the growth of the sandalwood oil market. Rising beauty consciousness has fuelled the demand for sandalwood oil. Sandalwood oil plays a vital role in perfumeries as it has an exotic woody-floral scent which tempts consumers. Apart from perfumeries, sandalwood oil is also used as facial cleansing oil, anti-wrinkle ingredient, and as a moisturizing agent in the cosmetic and personal care trades. Sandalwood oil has also initiate usage in personal care products such as bathing soaps, shampoos, body lotions, etc. over the years.
BASF and Isobionics launch Isobionics Santalol, an alternative to sandalwood oil
Ludwigshafen, Germany- BASF Nutrition & Health and Isobionics® are launching their first joint product, Isobionics® Santalol. Thanks to its woody odor profile, the new fragrance in BASF's portfolio is a convincing alternative to sandalwood oil.
The market is segmented based on the type, applications, companies, and regions.
By Type, it is segmented into
By Application, it is segmented into
The Asia-Pacific region is expected to enjoy the lion’s share of the sandalwood oil market share. Part of the reason for this is because India is a major nation in the Asia-Pacific region, and it is a key producer and consumer of sandalwood oil. But people in neighboring countries like Thailand are increasingly buying sandalwood oil. What is attracting them is the fact that this oil is affordable (in relation to other medicines) natural and has many great health benefits.
The North American market is expected to see significant growth in terms of sandalwood oil market share at the regional level. What is driving this growth is the fact that the masses are increasingly demanding to buy and use products that are organic and contain mostly natural ingredients. This is especially true in the United States of America but it’s also true in Canada.
The Sandalwood Oil Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Sandalwood Oil Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 6.99% over the forecast period (2022-2027) |
By Type |
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By Application |
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By Companies | Quintis (TFS )(Australia), Santanol (Australia), RK-Essential Oils (India), Meena Perfumery (India), Naresh International (India), Essentially Australia (Australia), Katyani Exports (India), KS&DL (Karnataka Soaps & Detergents)(India), Sandalwood Forest (Qingyuan) (China), Jiangxi Jishui Natural Essential oil Factory (China), Jinagxi Xuesong (China) |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 124 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Sandalwood Oil Market is studied from 2017 - 2027.
What is the growth rate of the Sandalwood Oil Market?
The Sandalwood Oil Market is growing at a CAGR of 6.99% over the next 5 years.
What regions does this Sandalwood Oil Market report cover?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
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SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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