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Market Definition:Sandalwood oil is an essential oil sourced from a small tropical tree known as Indian sandalwood or Santalum album. Its color ranges from pale yellow to golden yellow and is popular for its woody- floral smell. Sandalwood oil creates a calming and harmonizing effect in the minds. Moreover, it holds various attributes such as antiseptic, anti-inflammatory and astringent which is driving the market in pharmaceutical industry as well. Additionally, sandalwood oil has become an integral part in cosmetic products owing to its various skin beneficial attributes.
Sandalwood oil is an oil derived from steam distillation of chips and billets cut of various species of sandalwood tree. It has gained popularity majorly due to its woody-floral scent. Apart from the smell, sandalwood oil has many characteristics which has made it useful and beneficial for health and wellness. It holds various attributes such as antiseptic, anti-inflammatory and astringent which has increased its applicability in pharmaceuticals.
Market Scenario and Key Factors:
Sandalwood has been used by many Asian countries since ancient time and is considered to be an important ingredient owing to its several benefits and diverse application. Steam distillation, water (hydro) distillation, absolute (solvent extract), CO2 extracts, and a recent technology photonics process are different methods used for sandalwood oil extraction. India, Indonesia, Australia, and Timor are among the major producer of sandalwood. Indian sandalwood, namely S.album is considered to be of the highest quality due to its fixative properties and long-lasting fragrance and oil derived from it is highly in demand by food and cosmetic industries.
Increasing concern of skin health among the rising population is driving the market growth of sandalwood oil. Moreover, the historic presence of sandalwood oil in various customs where it is being used from cradle to cremation is adding fuel to the market growth of sandalwood oil. However, the availability of natural sandalwood oil has become rare and expensive which may restraint the growth of sandalwood oil market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 7.2% of sandalwood oil market during the forecast period 2017-2023.
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Key Players:
Some of the key players profiled in the global sandalwood oil market: Doterra International Llc. (U.S.), Eden Botanicals (U.S.), Plant Therapy Essential Oils (U.S.), Santanol Group (Australia), Sallamander Concepts Pty Ltd (South Africa), Healing Solutions (U.S.), and Khadi Herbal (India)
Key Findings:
Sandalwood essential oil is majorly imported by the US from countries such as China, India, Mexico, and Germany
The major exporting countries include India, China, Canada, and Germany
Intended Audience:
Cosmetics industry
Pharmaceutical industry
Aromatherapy industry
Raw material suppliers
Traders, importers, and exporters
Segments:
On the basis of the type it is segmented into natural and synthetic. Out of this, natural sandalwood oil is growing compared to synthetic sandalwood oil due to the certain allergic effect caused among the sensitive skinned population from chemicals used in synthetic sandalwood oil.
On the basis of application, it is segmented on the basis of personal care products, pharmaceuticals, aromatherapy and others. Among all, a personal care product is dominating the market. Increasing demand for fragrant personal care products among the rising population is playing a vital role in increasing application of sandalwood oil in the personal care industry.
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Regional Analysis:
The global sandalwood oil market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific is dominating the market followed by North America. China and India are dominating the sandalwood oil market in Asia Pacific based on the historic presence of sandalwood oil in the customs and traditions of this region.
European market is attracting sandalwood oil majorly for aromatherapy. Moreover, the Middle East and Africa hold an opportunistic market for sandalwood oil. Additionally, the U.S., China, Japan, Germany and Singapore are the major importers in this market.
Contact Info:
Name: Abhishek Sawant
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Website: https://www.marketresearchfuture.com/reports/sandalwood-oil-market-4626
Release ID: 484801
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