Increasing concern of skin health among the rising population is driving Sandalwood Oil Industry growth of sandalwood oil. Moreover, the historic presence of sandalwood oil in various customs where it is being used from cradle to cremation is adding fuel to the market growth of sandalwood oil. However, the availability of natural sandalwood oil has become rare and expensive which may restraint the growth of sandalwood oil market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 7.2% of sandalwood oil market during the forecast period 2020-2024.
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Based on application, sandalwood oil is segmented on the basis of personal care products, pharmaceuticals, aromatherapy and others. Among all, personal care industry is holding major share in application of sandalwood oil. Apart from the woody- floral smell, sandalwood is useful in reducing burning sensations in skin and cleansing the skin pores which has increased its popularity in personal care industry.
Based on the distribution channel, Sandalwood Oil Market is segmented as store based and non-store based. Store based distribution channel is dominating the market based on one-stop shopping experience. However, non-store-based distribution channel is witnessing a moderate growth.
The major players in the Sandalwood Oil Industry are Eden Botanicals (U.S.), Plant Therapy Essential Oils (U.S.), SANTANOL Group (Australia), SALLAMANDER Concepts Pty Ltd (South Africa), DOTERRA International LLC. (U.S.), Healing Solutions (U.S.) and Khadi Herbal (India)
The global sandalwood oil market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific is dominating the market followed by North America. China and India are dominating the sandalwood oil market in Asia Pacific based on the historic presence of sandalwood oil in the customs and traditions of this region.
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