Global Sandalwood Essential Oil Market Growth 2024-2030

Global Sandalwood Essential Oil Market Growth 2024-2030

According to our LPI (LP Information) latest study, the global Sandalwood Essential Oil market size was valued at US$ 136 million in 2023. With growing demand in downstream market, the Sandalwood Essential Oil is forecast to a readjusted size of US$ 280.4 million by 2030 with a CAGR of 10.9% during review period.

The research report highlights the growth potential of the global Sandalwood Essential Oil market. Sandalwood Essential Oil are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Sandalwood Essential Oil. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Sandalwood Essential Oil market.

Sandalwood, of the genus Santalum, is a genus of woody flowering trees and plants. Most species are semi-parasitic and several produce a highly aromatic wood. The most common species are Indian sandalwood (Santalum album) and Australian sandalwood (Santalum spicatum), although other species are used for their scent as well. The oil that distilled from eucarya spicata species, amyris and so on is not belonging to the Sandalwood Oil. Different sandalwood species are indigenous to India, Indonesia, Sri Lanka, Bangladesh (S. album), and Australia (S. spicatum and S. lanceolatum), as well as to several Pacific Islands such as Hawaii (S. ellipticum), Fiji and Tonga (S. yasi), Papua New Guinea (S. macgregorii), Vanuatu and New Caledonia (S. austrocaledonicum) and French Polynesia (S. insulare). Traditionally, sandalwood is wild-harvested, since cultivation is difficult. Because of over- and illegal harvesting, supplies of sandalwood, especially Indian sandalwood, have decreased considerably over the last 10-15 years. Consequently, efforts to cultivate sandalwood have increased; Australia now has several plantations of Indian sandalwood trees.

Global Sandalwood Oil key players include Quintis, Meena Perfumery, RK-Essential Oils, Santanol Group, KS&DL, etc. Global top five manufacturers hold a share about 65%. Asia Paicfic is the largest market, with a share about 40%, followed by Europe, with a share about 30 percent. In terms of product, Indian Sandalwood Oil is the largest segment, with a share about 85%. And in terms of application, the largest application is Aromatherapy, followed by Personal Care, Pharmaceuticals, etc.

Key Features:

The report on Sandalwood Essential Oil market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Sandalwood Essential Oil market. It may include historical data, market segmentation by Type (e.g., Indian Sandalwood Essential Oil, Australian Sandalwood Essential Oil), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Sandalwood Essential Oil market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Sandalwood Essential Oil market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Sandalwood Essential Oil industry. This include advancements in Sandalwood Essential Oil technology, Sandalwood Essential Oil new entrants, Sandalwood Essential Oil new investment, and other innovations that are shaping the future of Sandalwood Essential Oil.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Sandalwood Essential Oil market. It includes factors influencing customer ' purchasing decisions, preferences for Sandalwood Essential Oil product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Sandalwood Essential Oil market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Sandalwood Essential Oil market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Sandalwood Essential Oil market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Sandalwood Essential Oil industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Sandalwood Essential Oil market.

Market Segmentation:

Sandalwood Essential Oil market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type

Indian Sandalwood Essential Oil

Australian Sandalwood Essential Oil

Others

Segmentation by application

Cosmetics Industry

Pharmaceuticals Industry

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

DoTERRA International

Eden Botanicals

TFS Corporation

Santanol Group

RK-Essential Oils Company

Meena Perfumery

Royal Aroma

Sallamander Concepts

Naresh International

Essentially Australia

Katyani Exports

New Mountain Merchants

Dru Era

Amrit Fragrances

A.G. Industries

Jiangxi Jishui

Jinagxi Xuesong

Blue Bell Fragrances

Ravindra & Sons

Sandalwood Forest

Key Questions Addressed in this Report

What is the 10-year outlook for the global Sandalwood Essential Oil market?

What factors are driving Sandalwood Essential Oil market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Sandalwood Essential Oil market opportunities vary by end market size?

How does Sandalwood Essential Oil break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.