Agarwood, aloeswood or gharuwood is a fragrant dark resinous wood used in incense, perfume, and small carvings. It is formed in the heartwood of aquilaria trees when they become infected with a type of mould (Phialophora parasitica). Prior to infection, the heartwood is odourless, relatively light and pale coloured; however, as the infection progresses, the tree produces a dark aromatic resin, called aloes or agar (not to be confused with the edible, algae-derived agar) as well as gaharu, jinko, oud, or oodh (not to be confused with bukhoor), in response to the attack, which results in a very dense, dark, resin-embedded heartwood. The resin-embedded wood is valued in Arabic-middle eastern culture for its distinctive fragrance, and thus is used for incense and perfumes. The aromatic qualities of agarwood are influenced by the species, geographic location, its branch, trunk and root origin, length of time since infection, and methods of harvesting and processing.
This report contains market size and forecasts of Agarwoods in global, including the following market information:
Global Agarwoods Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global Agarwoods Market Sales, 2017-2022, 2023-2028, (MT)
Global top five Agarwoods companies in 2021 (%)
The global Agarwoods market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Natural Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Agarwoods include Swiss Arabian, Kim Anh Agarwood, Ponny Agarwood, Agarwood Siam Excellent, Simon70 LTD and Tram Huong Thuong Dinh, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Agarwoods manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Agarwoods Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (MT)
Global Agarwoods Market Segment Percentages, by Type, 2021 (%)
Natural
Artificial
Global Agarwoods Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (MT)
Global Agarwoods Market Segment Percentages, by Application, 2021 (%)
Incense
Perfume
Carvings
Global Agarwoods Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (MT)
Global Agarwoods Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Agarwoods revenues in global market, 2017-2022 (Estimated), ($ millions)
Key companies Agarwoods revenues share in global market, 2021 (%)
Key companies Agarwoods sales in global market, 2017-2022 (Estimated), (MT)
Key companies Agarwoods sales share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
Swiss Arabian
Kim Anh Agarwood
Ponny Agarwood
Agarwood Siam Excellent
Simon70 LTD
Tram Huong Thuong Dinh