The global demand for Sandalwood Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028. Whereas with regards to volume, the market was calculated XX Kilo Tons in 2021 and foreseen to touch XX Kilo Tons by 2028 with a CAGR of XX% during 2022-2028.
Sandalwood is a wood of the genus Santalum, the second-most expensive wood in the world. They produce a distinctive fragrance that retains for decades. The woods are heavy, yellow, and fine-grained. The bark is soft and gray-brown. It is commonly used as a fragrance in incense, cosmetics, perfumes, and soaps. It has been used as an astringent and antiseptic in Ayurveda to treat headache, stomachache, and urinary and genital disorders.
Market Dynamics
Global demand for sandalwood has been surging due to its unique fragrance quality, its use in medicines, cosmetics, beauty aids & paradigmatic shift of the consumers towards the natural products. Sandalwood oil is used traditionally to treat skin disease, acne, dysentery, gonorrhea & many other ailments. However, due to rampant smuggling, illegal trade of sandalwood, and the declining area of cultivation, sandalwood production is hampering. There is a need to protect and boost the abundance of valuable sandalwood plant material, which has genuine demand. Some countries are taking the initiative towards commercial cultivation using modern techniques to save species. It is predicted that this step will meet global market demands.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of sandalwood.
Market Segmentation
The entire sandalwood market has been sub-categorized into type and applications. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Type
- Indian Sandalwood Oil
- Australian Sandalwood Oil
- Others
By Applications
- Personal Care
- Aromatherapy
- Pharmaceuticals
- Others
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for sandalwood market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Sandalwood Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the sandalwood market include Quintis(TFS Corporation), Santanol Group, RK-Essential Oils, Meena Perfumery, Naresh International, Essentially Australia, Katyani Exports, KSandDL, Sandalwood Forest (Qingyuan), Jiangxi Jishui Natural, Jinagxi Xuesong. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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