Global Sandalwood
Market Report
2024
Global Sandalwood market size was $820.29 Million in 2022. Sandalwood Industry's Compound Annual Growth Rate will be 7.20% from 2023 to 2030.???????
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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Global Sandalwood market size was $820.29 Million in 2022. Sandalwood Industry's Compound Annual Growth Rate will be 7.20% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Sandalwood Market Sales Revenue 2022 | $ 820.29 Million |
Global Sandalwood Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7.2% |
Market Split by Type |
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Market Split by Application |
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Market Split by Distribution channel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Sandalwood Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Sandalwood refers to a fragrant wood that comes from species of trees belonging to the genus Santalum. The most well-known and widely used species is the Santalum album, known as Indian sandalwood. It holds the highest concentration of a-santol and b-sotalol which is the chemical compounds accountable for sandalwood’s luxurious woody-floral scent. Sandalwood is highly valued for its distinctive aroma and has been used for several years in perfumes, soaps, beauty products, and traditional medicine. Today, sandalwood is the second most expensive wood globally. Sandalwood-producing countries, such as Australia, India, Indonesia, Vanuatu, and Tonga are setting new regulations relating specifically to the harvest, possession, and trade of wild sandalwood.
Sandalwood is commercially harvested for its valuable heartwood, which contains the highest concentration of aromatic compounds. The wood is used in the production of perfumes, soaps, candles, and various cosmetic products. Sandalwood oil, obtained through steam distillation of the wood, is a highly popular ingredient in the fragrance industry. In addition, sandalwood holds significant cultural and spiritual importance in various traditions and religions, particularly in India and other parts of Asia. It is significantly used in religious ceremonies, meditation practices, and rituals.
Additionally, sandalwood is used in Ayurvedic, Chinese, and Tibetan medicine to treat a variety of health conditions including colds, fever, liver, and gallbladder problems. It is also used in aromatherapy for relaxation and sleep. Sandalwood oil and powder come under the expensive product category due to their beauty benefits. Sandalwood oil is a natural astringent, so it is used in lotions, cleansers, and moisturizers to soothe oily skin conditions and reduce the appearance of pores. Ayurveda uses sandalwood oil and powder-based masks to relieve acne and dark circles.
The growth of the sandalwood market is primarily driven by the growing adoption of sandalwood oil in personal care products. Sandalwood oil is valued for its unique fragrance and various beneficial properties, making it a popular ingredient in a wide range of personal care and cosmetic products. In recent years, modern consumers have begun to seek out this woody oil for use in perfumes, cosmetics, and skincare products. For example, North Asia is the largest beauty and personal care product market. In 2021, North Asia held over one-third of the market, and China has increased its footprint to become the industry front-runner in this region.
Sandalwood oil is known for its potential skincare benefits. It has properties that can help soothe and moisturize the skin, reduce inflammation, and promote a healthy complexion. Sandalwood oil is used in facial cleansers, moisturizers, serums, and other skincare formulations targeting various skin concerns, such as dryness, irritation, and aging. Sandalwood is a light astringent, cleansing, and soothing oil that can be used in skincare. When added to moisturizers and cleansers, it has a calming and refreshing effect, helping create a deeply soothing and relaxing skincare ritual that adores the skin. Self-care is a major investment. For example, women in the US spend around USD 10 per day on beauty products. Haircuts, makeup, and skincare are the top 3 beauty care spending categories, totaling USD 85 per month. Thus, increasing the spending capacity of women followed by men for personal grooming is expected to augment the demand for sandalwood and its related products.
The cosmetics and personal care industry is a science-driven technology and highly innovative field that invests heavily in research and development activities. Industry giants spend about 5% of their annual income on research and development. According to Terakeet's report, in 2020, Asia-Pacific accounts for the largest cosmetics market share at around 46.1%, followed by North America at 24.3% and Western Europe at 18.3%. These factors have supported the growth of the sandalwood market.
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Quintis Ltd is an Australia-based company engaged in providing natural, ethical & sustainable Indian and Australian sandalwood raw materials for every industry. The company provides the product as sandalwood oil, sandalwood powder, sandalwood chips, and, sandalwood logs. Furthermore, the product is used in various industries such as aromatherapy, Fragrance, used in carvings for handicrafts and furniture, incense, skincare & cosmetics, and traditional Chinese medicine industries.
Top Companies Market Share in Sandalwood Industry: (In no particular order of Rank)
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Region and country analysis section of Sandalwood Industry Analysis has been segmented into 5 major region such as North America, Europe, Asia Pacific, Middle East & Africa ,and Latin America (along with respective major contributing countries) and provides the revenue share, current trends.
The base years considered for all the estimations by analyzing trends and growth rate will help you gain an in-depth understanding of the conclusions provided in this report. This report also includes figures, graphs, pie charts, tables and bar graphs that explain the data analysis based on current trends at the country level as well as key regions. This research report also focuses on assessing factors such as profit, product price, capacity, production, supply demand market growth rate along with others to create a clear picture on the future prospects of Sandalwood market.
The current report Scope analyzes Sandalwood Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Sandalwood Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Sandalwood Industry growth. Sandalwood market has been segmented with the help of its Type, Application Distribution channel, and others. Sandalwood market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Indian Sandalwood segment held the largest market share and is expected to grow at the fastest CAGR during the forecast period of 2023-2030. This is attributed to Indian sandalwood is known for its powerful, woodsy scent. In many cultures, Indian sandalwood has significant religious and cultural importance. Indian sandalwood oil is also recognized for use in the personal care and cosmetics sectors. It is a highly sought-after component in high-end soaps, lotions, creams, and other beauty products due to its smell as well as potential skincare advantages that drive the demand for Indian sandalwood in the global market.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Sandalwood Industry. Request a Free Sample PDF!
Sandalwood has a wide range of applications in cosmetics and beauty care products as it has powerful emollient, anti-inflammatory, and antiseptic properties, used in perfumes, as it imparts aroma flavor, and used in moisturizers, shampoos, creams, and sunscreen. The sandalwood stick is used in homemade packs, its powder is used in the face packs, and its paste can be applied on the skin providing acne-free skin, removing tanning, protecting skin, and providing glowing skin. The powder or sandalwood stick’s paste is mixed with saffron to apply on the face or skin. It has cooling or soothing properties, a relaxant, used in other beauty soaps.
The heartwood of the sandalwood tree retains aroma flavor, due to this benefit, it is used in perfumery, and aroma therapy, the aroma present in sandalwood absorbs through the skin and is useful in controlling emotions, helps in relieving mental stress, and sleep disorders.
Sandalwood is used in the healthcare sector due to its beneficial properties such as anti-inflammatory, treating dermatological conditions, including eczema, psoriasis, acne, anti-microbial, anti-proliferative agent, antiseptic, astringent, anticancer properties, diuretic, treats urinary infection, useful in the treatment of stomach, headache, the bark of wood is used to treat dandruff, skin inflammation. In Ayurvedic medicine, sandalwood is used for mental and physical disorders such as anxiety, fatigue, insomnia, diarrhea, gallbladder, high blood pressure, etc.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Sandalwood market report 2024 Edition by contacting our team.
The sandalwood market key players focused on sustainable supply or distribution of sandalwood. In this direct channel of distribution, key players of the market sell sandalwood directly to the consumers through their website, where consumers are aware of the benefits of products and physical shops. This channel of distribution is an expensive process and key players have their own supply chain network, which supplies directly to the consumers and provides quick, efficient delivery of the product. The manufacturer manages the distribution, and no third-party selling system is involved in the process.
Indirect distribution channel involves third-party selling services. Products are provided to consumers through distribution channels. The third-party service providers shipping services to deliver a product to the consumers. The key players such as Eden Botanicals, and Khadi Natural provides their product to a third-party company and they sell their products to consumers through E-commerce, hypermarkets, pharmacies, and specialty stores.
Research Analyst at Cognitive Market Research
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Sandalwood Market is witnessing significant growth in the near future.
In 2023, the Australian Sandalwood segment accounted for noticeable share of global Sandalwood Market and is projected to experience significant growth in the near future.
The Personal Care segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Quintis Ltd , WA Sandalwood Plantations Pty Ltd and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Type | Australian Sandalwood, Indian Sandalwood |
Application | Personal Care, Aromatherapy, Pharmaceuticals, Others |
Distribution channel | Direct Distribution Channel, Indirect Distribution Channel |
List of Competitors | Quintis Ltd, Forest Products Commission of Western Australia (FPC), WA Sandalwood Plantations Pty Ltd, Santanol Group, Karnataka Soaps and Detergents Limited, Mukinbudin Sandalwood Factory, Others |
This chapter will help you gain GLOBAL Market Analysis of Sandalwood. Further deep in this chapter, you will be able to review Global Sandalwood Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Sandalwood Market Trends North America Sandalwood Technological Road Map North America Sandalwood Market Drivers North America Sandalwood Market Restraints North America Sandalwood Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Distribution channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Sandalwood market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Australian Sandalwood have a significant impact on Sandalwood market? |
What are the key factors affecting the Australian Sandalwood and Indian Sandalwood of Sandalwood Market? |
What is the CAGR/Growth Rate of Personal Care during the forecast period? |
By type, which segment accounted for largest share of the global Sandalwood Market? |
Which region is expected to dominate the global Sandalwood Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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