Sandalwood Oil Market Overview:
The Sandalwood Oil Market analysis provides a full insight into the competition, including the market share and company profiles of the key worldwide rivals. The scope of the research covers a thorough investigation of the Sandalwood Oil Market, as well as the causes for variances in the industry’s growth in different regions.
The Sandalwood Oil Market size was valued at US$ 110.34 Mn. in 2020 and the total revenue is expected to grow at 6.99% through 2021 to 2027, reaching nearly US$ 165.5 Mn.
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Market Scope:
Following the completion of market engineering, which comprised market statistics calculations, estimations of market size, market projections, market breakdown, and data triangulation, major primary research was conducted to obtain information and verify and validate critical numbers. Top-down and bottom-up strategies, as well as several data triangulation procedures, were often used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all data gathered throughout the market engineering process.
Segmentation:
by Type
• Natural
• Lab Created
The Sandalwood Oil Market is Divided into Natural & Lab Created by Type. With a market share of 70% in 2021, Natural Sandalwood Oil is expected to continue to rule the sandalwood oil market during the foreseen period. This is because there is an increasing global demand for natural and environmentally friendly products, particularly when personal and health care are involved. Additionally, if utilised in cosmetic or pharmaceutical applications, natural sandalwood oil is less expensive to produce and has fewer adverse effects than lab-created sandalwood oil. In 2021, lab-created products will hold a 30% market share.
by Application
• Personal Care
• Pharmaceutical
• Aromatherapy
The Sandalwood Oil Market is divided into three categories, including Aromatherapy, Personal Care, and Pharmaceuticals. With a market share of 45% in 2021, personal care will rule the sandalwood oil market. This is because the oil is utilised in various cosmetic items, including creams, perfumes, soaps, shampoos, and others, as well as because the oil itself is used in personal care products. Because it is used in spas and hotels for aromatherapy, is in high demand, and is expected to rise during the anticipated period, aromatherapy has a market share of 31% in 2021. In 2021, pharmaceuticals will hold a 24% market share because homoeopathic medications exclusively employ Sandalwood Oil as an ingredient.
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Key Players:
Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
• The biggest players in the Sandalwood Oil Market are as follows:
• Albert Vieille SAS
• Doterra International LLC
• Eden botanicals
• Santanol Group
• Plant Therapy Essential Oils
• Aditi Essentials
• Haldin International
• Iangyin Healthway
• Kanta Enterprises
• PerfumersWorld Ltd.
• Ancient Healer
• Khadi Natural
• Vedic Vaani
• Cliara Essential Oils
• Sallamander Concepts Pty Ltd
Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Sandalwood Oil Market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Sandalwood Oil Market:
End-user industries where the Sandalwood Oil Market is utilized saw a dip in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of businesses working in these industries and, as a result, in demand for Sandalwood Oil Market manufacturers, influencing the development of the Sandalwood Oil Market in 2020. End-user business demand for the Sandalwood Oil Market has declined significantly as a result of lockdowns and an increase in COVID-19 events worldwide.
Key Questions Answered in the Sandalwood Oil Market Report are:
In 2021, which segment held the highest proportion of the Sandalwood Oil Market?
What is the Sandalwood Oil Market’s competitive landscape?
What are the primary drivers assisting the Sandalwood Oil Market growth?
Which region has the most market share in the Sandalwood Oil Market?
What will be the Sandalwood Oil Market’s CAGR throughout the projected period?
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