mrfrbeverages

Market Overview Agarwood Essential Oil, also referred to as OUD oil, is a highly rare and precious oil derived from the trees in the Aquileia family. It grows in the entire northeastern India, Bhutan, and in various parts of Southeast Asia. Agarwood is also known as aloeswood and is a fragrant dark wood that is primarily used to make perfumes and incense items. Aquilaria species of the Thymelaeaceae family is considered as one of the high-quality agarwood plants that are available in the market and holds significant contribution in revenue generation. The plantation of agarwood is performed in a number of countries and has been reintroduced across various countries like Sri Lanka and Malaysia as commercial plantation crops to particularly produce agarwood essential oil. Over the years, there have been several techniques developed to stimulate or enhance the agarwood production in trees which will positively impact the market growth and the expansion of these essential oils in the c...

Market Overview The application base of agarwood essential oil is expanding fast. The manufacturers are leveraging the rarity of the raw materials for expensively pricing the oil without affecting the demand adversely. The agarwood, also known as aloeswood, is mostly used for the production of incense and perfumes. Agarwood essential oil is also used by the end user industries for producing soaps, cosmetics, personal care items, therapeutics, etc. The increasing demand for agarwood essential oil as an ingredient in the production process of varied industry verticals will fuel the market growth of agarwood essential oil over the assessment period. Agarwood essential oil, also, has high medicinal value and is extensively used by Ayurvedic practitioners which is one of the key drivers of agarwood essential oil market growth and expansion. Among all the other species, aquilaria species is the most popular one with a significant contribution towards accelerated revenue generation....