Global Sandalwood Oil Market 2018-2022
About Sandalwood Oil
Sandalwood oil is an essential oil extracted from a small tropical tree known as Santalum album. It is usually available in a pale yellow or golden yellow color and has a woody floral fragrance.
Technavio’s analysts forecast the global sandalwood oil market to grow at a CAGR of 10.03% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global sandalwood oil market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Sandalwood Oil Market 2018-2022
Technavio recognizes the following companies as the key players in the global sandalwood oil market: Karnataka Soaps & Detergents Limited, Katyani Exports, NARESH INTERNATIONAL, Quintis, R K - Essential Oils Company, and Santanol.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rising demand for aromatherapy. Several holistic beauty experts endorse the therapeutic effects of sandalwood oil on the skin. It is suitable for all skin types and is one of the most popular essential oils used in aromatherapy. Pure sandalwood oil can be used as a carrier oil in aromatherapy or massage therapy.”
According to the report, one driver in the market is numerous benefits offered by sandalwood oil. Sandalwood oil exhibits antiseptic, anti-inflammatory, diuretic, antispasmodic, and cicatrisant properties. It is used as an astringent, carminative, disinfectant, and emollient. In addition, it works as an expectorant, hypotensive agent, memory booster, and sedative.
Further, the report states that one challenge in the market is high price of sandalwood. Sandalwood products are exorbitantly priced because of the significant decrease in the production of sandalwood in the past two decades. It is one of the expensive essential oils and involves a complex production process. Mature sandalwood trees are cut down to extract sandalwood oil.
Karnataka Soaps & Detergents Limited, Katyani Exports, NARESH INTERNATIONAL, Quintis, R K - Essential Oils Company, and Santanol.