Sandalwood Oil Market Research Report - Forecast till 2027

Sandalwood Oil Market Research Report: By Type (Natural and Synthetic), Application (Personal Care, Pharmaceuticals, Aromatherapy, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2027

ID: MRFR/F-B & N/3205-HCR | February 2021 | Region: Global | 110 pages

Sandalwood Oil Market Overview


Sandalwood Oil Market is expected to register a CAGR of 6.99% from 2020 to 2027 and reach USD 165.5 Million by the end of 2027.


Manufacturers produce sandalwood oil when they subject sandalwood chips to immense steam and distill the steam. Sandalwood oil has many useful applications. Some of these include healing external wounds. These tend to heal faster when sandalwood oil is used because it’s a natural antiseptic. However, many people either drink sandalwood oil or put it in their food and beverages. They report many health benefits including infections that clear faster and the healing and prevention of a variety of ulcers.


COVID-19 Analysis of Sandalwood Oil Market


COVID-19 was more than just a nuisance virus when it first made major world headlines in March of 2020. It was a virus that could have dangerous consequences in the people who got it (though this was rare!) Governments around the world sought to contain its spread through temporary lockdowns and quarantines.


Many industries and markets were adversely affected. The sandalwood oil market was one of these. Sandalwood oil manufacturers were considered to be nonessential and were forced to either dramatically scale back operations or cease operating entirely. The end consumer was affected since the price of sandalwood oil and related products began to skyrocket.


Sandalwood Oil Market Dynamics


Drivers


Some studies suggest that sandalwood oil can prevent the development of some types of melanomas (skin cancers) when applied topically. This, along with its many other health benefits is what’s driving growth. Sandalwood oil also smells nice. This is what is making it increasingly popular in aromatherapy around the world. This is also a major factor driving growth.


Opportunities


The respectable CAGR in the sandalwood oil market and the many increasingly useful and diverse applications for the product are creating many opportunities for making money in the industry. Manufacturers are responding by investing heavily in research and development. The result is a new generation of products with far many more innovative uses than the previous generations of sandalwood oil products.


Restraints


Sandalwood oil is difficult to make and has a higher pricing point. This is restraining growth.


Challenges


sandalwood oil market manufacturers will have to find ways of coming up with better products with more diverse applications while keeping the price in a reasonable and affordable range for the masses around the world.


Cumulative Growth Analysis


The CAGR for the sandalwood oil market is expected to be 6.99% from 2020 to 2027.


Technology Analysis


Plant Therapy Essential Oils is a major American player in the sandalwood oil market. It has managed to become and retain its position as a renowned and respectable industry leader by investing heavily in research and development. This has allowed it to develop and market a new generation of sandalwood oil products with more innovative and useful applications and health benefits.


Segment Overview


By Type


The sandalwood oil market can be grouped into the following based on type:



  • Natural sandalwood oil

  • Lab-created sandalwood oil


By Application


The sandalwood oil market can be grouped into the following based on application:



  • Personal care

  • Pharmaceuticals

  • Aromatherapy

  • Others


By Region


The sandalwood oil market can be grouped into the following areas based on region:


North America



  • The European Union

  • The Asia-Pacific region

  • The rest of the world


The North American region can be separated further into three large markets: Canada, Mexico, and the United States. The sandalwood oil market in the European Union can be divided into the following national markets:  the United Kingdom, Germany, France, Italy, Spain, and the rest of the European Union. In the Asia-Pacific region, the regional sandalwood oil market can be separated into the following national markets:  India, China, Japan, New Zealand, Australia, and the rest of the Asia-Pacific region.


Regional Analysis


The Asia-Pacific region is expected to enjoy the lion’s share of the sandalwood oil market share. Part of the reason for this is because India is a major nation in the Asia-Pacific region, and it is a key producer and consumer of sandalwood oil. But people in neighboring countries like Thailand are increasingly buying sandalwood oil. What is attracting them is the fact that this oil is affordable (in relation to other medicines) natural and has many great health benefits.


The same is true in Singapore. The Indians have been producers and consumers of sandalwood oil for thousands of years. However, the products have become very popular in recent years largely because many more Indians in the rapidly growing middle classes are becoming aware of the major health benefits that sandalwood oil offers. They also like the fact that it’s easy on the body and digestive system because it’s natural.


The middle classes are growing in most countries in the Asia-Pacific region. This is especially true of the economic heavyweights India and China. This means that disposable income is rising rapidly and most people in the nations in the Asia-Pacific region are wealthier than their parents ever were. India and China are good examples of this. The result is rapidly growing regional demand for sandalwood oil and a high regional CAGR until at least 2024.


Many people in the Asia-Pacific region are much more likely to buy personal care products that contain sandalwood oil than their parents were. This is also a key driver of growth in the region. This will be normal for the next few years.


The North American market is expected to see significant growth in terms of sandalwood oil market share at the regional level. What is driving this growth is the fact that the masses are increasingly demanding to buy and use products that are organic and contain mostly natural ingredients. This is especially true in the United States of America but it’s also true in Canada.


The regional sandalwood oil market is growing rapidly in the United States and Canada. It is due to the demand for oils that are used in aromatherapy is increasing rapidly. Aromatherapy is fast becoming popular in the United States of America and Canada.


The global sandalwood oil market is expected to grow rapidly as well because of the increasing demand for aromatherapy and personal care items and goods that contain mostly natural ingredients.


Competitive Landscape


The global sandalwood oil market remains very competitive, one of the main reasons why is because the market is very lucrative. However, another key reason for this is because there are relatively few barriers to entry in comparison with other markets. It’s the heavy competition in the market that is forcing many companies to invest heavily in research and development to try to develop and market an entirely new generation of sandalwood oil products with more useful and innovative applications, It should also be noted that this new generation of sandalwood oil products has many more health benefits than the previous generations did.


Companies are also finding that they can continue to remain competitive by entering into joint ventures. Also called strategic partnerships, these alliances allow the resulting group of companies to have access to many more resources than the companies did separately. They can concentrate more of their efforts on research and development. The objective is to try to solidify their positions in existing markets. This move also helps them guarantee successful entry into newer markets..the resulting group of companies also has more access to monetary resources that are needed for successful advertising and marketing budgets.


Mergers and acquisitions accomplish the same goal that joint ventures do for companies that want to remain financially viable in the hypercompetitive sandalwood oil market.


Plant Therapy Essential Oils is a successful American company. It has created and maintained a superior market position by investing heavily in research and development. This has allowed it to come up with more effective sandalwood oil products with more innovative and useful applications. These products also have more health benefits.


List of Companies



  • Albert Vieille SAS (France),

  • Doterra International LLC (Utah),

  • Eden botanicals (US),

  • Santanol Group (Australia),

  • Plant Therapy Essential Oils (US),

  • Aditi Essentials (India),

  • Haldin International (Indonesia),

  • Iangyin Healthway (Japan),

  • Kanta Enterprises (India),

  • PerfumersWorld Ltd. (Thailand),

  • Ancient Healer (US),

  • Khadi Natural (India),

  • Vedic Vaani (India),

  • Cliara Essential Oils (Sri Lanka), and

  • Sallamander Concepts Pty Ltd (South Africa)


Recent Developments


Plant Therapy launches a new generation of sandalwood oils for use


Report Overview


The global sandalwood oil market is expected to have a cagr of 6.99% for the near term. The largest consumers of sandalwood oil are the middle classes in the Asia-Pacific region. Regional growth is expected to be high there. There is a growing demand for sandalwood oil in the North American and European markets as well



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Frequently Asked Questions (FAQ) :


sandalwood oil market is expected to reach a valuation of USD 165.5 million by 2027.

sandalwood oil market is expected to exhibit a strong 6.99% CAGR over the forecast period from 2020 to 2027.

The growing demand for sandalwood oil in cosmetics and aromatherapy is the major driver for the market.

Asia Pacific dominates the global sandalwood oil market.

Leading players in the sandalwood oil market include Albert Vieille, Doterra International, and Eden Botanicals, among others.

TABLE OF CONTENTS

1. 1 EXECUTIVE SUMMARY

1.1. Market Attractiveness Analysis

1.1.1. Global Sandalwood Oil Market, by Type

1.1.2. Global Sandalwood Oil Market, by Application

1.1.3. Global Sandalwood Oil Market, by Region

2. MARKET INTRODUCTION

2.1. Definition

2.2. Scope of the Study

2.3. Market Structure

2.4. Key Buying Criteria

2.5. Macro Factor Indicator Analysis

3. RESEARCH METHODOLOGY

3.1. Research Application

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

3.5. Forecast Model

3.6. List of Assumptions

4. MARKET DYNAMICS

4.1. Introduction

4.2. Drivers

4.3. Restraints

4.4. Opportunities

4.5. Challenges

5. MARKET FACTOR ANALYSIS

5.1. Value Chain Analysis

5.2. Supply Chain Analysis

5.3. Porter’s Five Forces Model

5.3.1. Bargaining Power of Suppliers

5.3.2. Bargaining Power of Buyers

5.3.3. Threat of New Entrants

5.3.4. Threat of Substitutes

5.3.5. Intensity of Rivalry

6. GLOBAL SANDALWOOD OIL MARKET, BY TYPE

6.1. Introduction

6.2. Natural

6.2.1. Natural: Market Estimates & Forecast by Region/Country, 2020–2027

6.3. Synthetic

6.3.1. Synthetic: Market Estimates & Forecast by Region/Country, 2020–2027

7. GLOBAL SANDALWOOD OIL MARKET, BY APPLICATION

7.1. Introduction

7.2. Personal Care

7.2.1. Personal Care: Market Estimates & Forecast by Region/Country, 2020–2027

7.3. Pharmaceuticals

7.3.1. Pharmaceuticals: Market Estimates & Forecast by Region/Country, 2020–2027

7.4. Aromatherapy

7.4.1. Aromatherapy: Market Estimates & Forecast by Region/Country, 2020–2027

7.5. Others

7.5.1. Others: Market Estimates & Forecast by Region/Country, 2020–2027

8. GLOBAL SANDALWOOD OIL MARKET, BY REGION

8.1. Introduction

8.2. North America

8.2.1. Market Estimates & Forecast by Type, 2020–2027

8.2.2. Market Estimates & Forecast by Application, 2020–2027

8.2.3. Market Estimates & Forecast by Country, 2020–2027

8.2.4. US

8.2.4.1. Market Estimates & Forecast by Type, 2020–2027

8.2.4.2. Market Estimates & Forecast by Application, 2020–2027

8.2.5. Canada

8.2.5.1. Market Estimates & Forecast by Type, 2020–2027

8.2.5.2. Market Estimates & Forecast by Application, 2020–2027

8.2.6. Mexico

8.2.6.1. Market Estimates & Forecast by Type, 2020–2027

8.2.6.2. Market Estimates & Forecast by Application, 2020–2027

8.3. Europe

8.3.1. Market Estimates & Forecast by Type, 2020–2027

8.3.2. Market Estimates & Forecast by Application, 2020–2027

8.3.3. Market Estimates & Forecast by Country, 2020–2027

8.3.4. Germany

8.3.4.1. Market Estimates & Forecast by Type, 2020–2027

8.3.4.2. Market Estimates & Forecast by Application, 2020–2027

8.3.5. UK

8.3.5.1. Market Estimates & Forecast by Type, 2020–2027

8.3.5.2. Market Estimates & Forecast by Application, 2020–2027

8.3.6. France

8.3.6.1. Market Estimates & Forecast by Type, 2020–2027

8.3.6.2. Market Estimates & Forecast by Application, 2020–2027

8.3.7. Spain

8.3.7.1. Market Estimates & Forecast by Type, 2020–2027

8.3.7.2. Market Estimates & Forecast by Application, 2020–2027

8.3.8. Italy

8.3.8.1. Market Estimates & Forecast by Type, 2020–2027

8.3.8.2. Market Estimates & Forecast by Application, 2020–2027

8.3.9. Rest of Europe

8.3.9.1. Market Estimates & Forecast by Type, 2020–2027

8.3.9.2. Market Estimates & Forecast by Application, 2020–2027

8.4. Asia-Pacific

8.4.1. Market Estimates & Forecast by Type, 2020–2027

8.4.2. Market Estimates & Forecast by Application, 2020–2027

8.4.3. Market Estimates & Forecast by Country, 2020–2027

8.4.4. China

8.4.4.1. Market Estimates & Forecast by Type, 2020–2027

8.4.4.2. Market Estimates & Forecast by Application, 2020–2027

8.4.5. Japan

8.4.5.1. Market Estimates & Forecast by Type, 2020–2027

8.4.5.2. Market Estimates & Forecast by Application, 2020–2027

8.4.6. India

8.4.6.1. Market Estimates & Forecast by Type, 2020–2027

8.4.6.2. Market Estimates & Forecast by Application, 2020–2027

8.4.7. Australia & New Zealand

8.4.7.1. Market Estimates & Forecast by Type, 2020–2027

8.4.7.2. Market Estimates & Forecast by Application, 2020–2027

8.4.8. Rest of Asia-Pacific

8.4.8.1. Market Estimates & Forecast by Type, 2020–2027

8.4.8.2. Market Estimates & Forecast by Application, 2020–2027

8.5. Rest of the World

8.5.1. Market Estimates & Forecast by Type, 2020–2027

8.5.2. Market Estimates & Forecast by Application, 2020–2027

8.5.3. Market Estimates & Forecast by Region, 2020–2027

8.5.4. South America

8.5.4.1. Market Estimates & Forecast by Type, 2020–2027

8.5.4.2. Market Estimates & Forecast by Application, 2020–2027

8.5.5. Middle East

8.5.5.1. Market Estimates & Forecast by Type, 2020–2027

8.5.5.2. Market Estimates & Forecast by Application, 2020–2027

8.5.6. Africa

8.5.6.1. Market Estimates & Forecast by Type, 2020–2027

8.5.6.2. Market Estimates & Forecast by Application, 2020–2027

9. COMPETITIVE LANDSCAPE

9.1. Introduction

9.2. Competitive Benchmarking

9.3. Development Share Analysis

9.4. Key Developments & Growth Strategies

10. COMPANY PROFILES

10.1. Albert Vieille SAS

10.1.1. Company Overview

10.1.2. Financial Overview

10.1.3. Products Offered

10.1.4. Key Developments

10.1.5. SWOT Analysis

10.1.6. Key Strategies

10.2. Doterra International LLC

10.2.1. Company Overview

10.2.2. Financial Overview

10.2.3. Products Offered

10.2.4. Key Developments

10.2.5. SWOT Analysis

10.2.6. Key Strategies

10.3. Eden botanicals

10.3.1. Company Overview

10.3.2. Financial Overview

10.3.3. Products Offered

10.3.4. Key Developments

10.3.5. SWOT Analysis

10.3.6. Key Strategies

10.4. Santanol Group

10.4.1. Company Overview

10.4.2. Financial Overview

10.4.3. Products Offered

10.4.4. Key Developments

10.4.5. SWOT Analysis

10.4.6. Key Strategies

10.5. Plant Therapy Essential Oils

10.5.1. Company Overview

10.5.2. Financial Overview

10.5.3. Products Offered

10.5.4. Key Developments

10.5.5. SWOT Analysis

10.5.6. Key Strategies

10.6. Aditi Essentials

10.6.1. Company Overview

10.6.2. Financial Overview

10.6.3. Products Offered

10.6.4. Key Developments

10.6.5. SWOT Analysis

10.6.6. Key Strategies

10.7. Haldin International

10.7.1. Company Overview

10.7.2. Financial Overview

10.7.3. Products Offered

10.7.4. Key Developments

10.7.5. SWOT Analysis

10.7.6. Key Strategies

10.8. Jiangyin Healthway

10.8.1. Company Overview

10.8.2. Financial Overview

10.8.3. Products Offered

10.8.4. Key Developments

10.8.5. SWOT Analysis

10.8.6. Key Strategies

10.9. Kanta Enterprises

10.9.1. Company Overview

10.9.2. Financial Overview

10.9.3. Products Offered

10.9.4. Key Developments

10.9.5. SWOT Analysis

10.9.6. Key Strategies

10.10. PerfumersWorld Ltd.

10.10.1. Company Overview

10.10.2. Financial Overview

10.10.3. Products Offered

10.10.4. Key Developments

10.10.5. SWOT Analysis

10.10.6. Key Strategies

10.11. Ancient Healer

10.11.1. Company Overview

10.11.2. Financial Overview

10.11.3. Products Offered

10.11.4. Key Developments

10.11.5. SWOT Analysis

10.11.6. Key Strategies

10.12. Khadi Natural

10.12.1. Company Overview

10.12.2. Financial Overview

10.12.3. Products Offered

10.12.4. Key Developments

10.12.5. SWOT Analysis

10.12.6. Key Strategies

10.13. Vedic Vaani

10.13.1. Company Overview

10.13.2. Financial Overview

10.13.3. Products Offered

10.13.4. Key Developments

10.13.5. SWOT Analysis

10.13.6. Key Strategies

10.14. Cliara Essential Oils

10.14.1. Company Overview

10.14.2. Financial Overview

10.14.3. Products Offered

10.14.4. Key Developments

10.14.5. SWOT Analysis

10.14.6. Key Strategies

10.15. Sallamander Concepts Pty Ltd

10.15.1. Company Overview

10.15.2. Financial Overview

10.15.3. Products Offered

10.15.4. Key Developments

10.15.5. SWOT Analysis

10.15.6. Key Strategies

11. APPENDIX

11.1. General Sources & References

11.2. List of Abbreviation


List of Tables

TABLE 1 Global Sandalwood Oil Market, by Region, 2020–2027 (USD Million)

TABLE 2 Global Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 3 Global Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 4 North America: Sandalwood Oil Market, by Country, 2020–2027 (USD Million)

TABLE 5 North America: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 6 North America: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 7 US: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 8 US: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 9 Canada: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 10 Canada: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 11 Mexico: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 12 Mexico: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 13 Europe: Sandalwood Oil Market, by Country, 2020–2027 (USD Million)

TABLE 14 Europe: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 15 Europe: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 16 Germany: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 17 Germany: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 18 France: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 19 France: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 20 Italy: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 21 Italy: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 22 Spain: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 23 Spain: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 24 UK: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 25 UK: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 26 Rest of Europe: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 27 Rest of Europe: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 28 Asia-Pacific: Sandalwood Oil Market, by Country, 2020–2027 (USD Million)

TABLE 29 Asia-Pacific: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 30 Asia-Pacific: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 31 China: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 32 China: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 33 India: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 34 India: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 35 Japan: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 36 Japan: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 37 Australia & New Zealand: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 38 Australia & New Zealand: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 39 Rest of Asia-Pacific: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 40 Rest of Asia-Pacific: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 41 Rest of the World (RoW): Sandalwood Oil Market, by Country, 2020–2027 (USD Million)

TABLE 42 Rest of the World (RoW): Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 43 Rest of the World (RoW): Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 44 South America: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 45 South America: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 46 Middle East: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 47 Middle East: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)

TABLE 48 Africa: Sandalwood Oil Market, by Type, 2020–2027 (USD Million)

TABLE 49 Africa: Sandalwood Oil Market, by Application, 2020–2027 (USD Million)


LIST OF FIGURES

FIGURE 1 Global Sandalwood Oil Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Five Forces Analysis of the Global Sandalwood Oil Market

FIGURE 4 Value Chain of the Global Sandalwood Oil Market

FIGURE 5 Share of the Global Sandalwood Oil Market in 2020, by Country (%)

FIGURE 6 Global Sandalwood Oil Market, by Region, 2020–2027,

FIGURE 7 Global Sandalwood Oil Market Size, by Type, 2020

FIGURE 8 Share of the Global Sandalwood Oil Market, by Type, 2020–2027 (%)

FIGURE 9 Global Sandalwood Oil Market Size, by Application, 2020

FIGURE 10 Share of the Global Sandalwood Oil Market, by Application, 2020–2027 (%)