Sandalwood Oil Market Predicts A CAGR of Around 10.3% During The Forecast Period

Sandalwood Oil Market 2019-2024

Sandalwood, of the genus Santalum, is a genus of woody flowering trees and plants. Most species are semi-parasitic and several produce a highly aromatic wood. The most common species are Indian sandalwood Santalum album and Australian sandalwood Santalum spicatum , although other species are used for their scent as well.

The global sandalwood oil concentration rate is relatively low; the manufacturers are mainly distributed in eastern Indian Ocean and the Pacific Ocean, like Australia, India, Indonesia, Sri Lanka, Malaysia, China and Hawaii etc. Australia and India are dominating the global sandalwood oil market.

In Australia, is the largest producer of sandalwood oil, the market is dominated by few players like Quintis former TFS Corporation , Santanol Group and Essentially Australia. Quintis now is the largest producer of sandalwood oil in the world, cultivates and manages huge santalum album trees in Australia, supplies sandalwood oil for the perfume and pharmaceutical use. Quintis’s customer include Galderma, Lush Cosmetics, Young Living, Santalis Pharmaceuticals and Estee Lauder etc.

India is the second producer of sandalwood oil, the market concentration rate is low, most of the players are small, and the top players include Karnataka Soaps & Detergents Limited KS&DL , RK-Essential Oils Company, Meena Perfumery, Katyani Exports and Naresh International etc.

In China, there are only several producer located in Jiangxi and Guangdong province, like Sandalwood Forest cultivate Indian sandalwood in Guangdong , Jinagxi Xuesong and Jiangxi Jishui etc. low-yielding and low quality.

In terms of consumption of sandalwood oil, North America, Europe and India are dominating the consumption market, the sandalwood oils are mainly used in personal care products, cosmetics, perfumes, aromatherapy, Pharmaceuticals and other applications like mosquito coils and incense etc.

This industry is easily affected by the development of the sandalwood. The natural sandalwood trees are decreasing due to illegal felling and procurement of the wood. It will have to rely on the artificial cultivation in the future. And it is possible that the sandalwood oil price will keep a weak down trend in the future, thanks to the strong demand and the success of the artificial cultivation. So it’s important to put an eye to the development of natural and artificial cultivation sandalwood, especially large production country, like Australia, India and , Indonesia and the Pacific Islands.

According to this study, over the next five years the Sandalwood Oil market will register a 10.3% CAGR in terms of revenue, the global market size will reach US$ 140 million by 2024, from US$ 78 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in Sandalwood Oil business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Sandalwood Oil market by product type, application, key manufacturers and key regions and countries.

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This study considers the Sandalwood Oil value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.

Indian Sandalwood Oil
Australian Sandalwood Oil

Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.

Cosmetics Perfumes
Pharmaceuticals
Aromatherapy
Others

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.

Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The report also presents the market competitive landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in Chapter 3.

Quintis TFS Corporation Australia
Santanol Group Australia
RK-Essential Oils Company India
Meena Perfumery India
Naresh International India
Essentially Australia Australia
Katyani Exports India
KS&DL Karnataka Soaps & Detergents Limited India
Sandalwood Forest Qingyuan China
Jiangxi Jishui Natural Essential oil Factory China
Jinagxi Xuesong China

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives

To study and analyze the global Sandalwood Oil consumption value & volume by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Sandalwood Oil market by identifying its various subsegments.
Focuses on the key global Sandalwood Oil manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Sandalwood Oil with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks .
To project the consumption of Sandalwood Oil submarkets, with respect to key regions along with their respective key countries .
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

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