Sandalwood Oil Market Size, Share & Trends Analysis Report By Product (Natural Sandalwood Oil, Synthetic Sandalwood Oil), By Application (Personal Care & Cosmetics, Pharmaceutical, Aromatherapy), By Region, And Segment Forecasts, 2024 - 2030
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Sandalwood Oil Market Size & Trends
The global sandalwood oil market size was estimated at USD 163.0 million in 2023 and is projected tgrow at a CAGR of 7.0% from 2024 t2030. One of the primary drivers of growth in the sandalwood oil market is the increasing consumer demand for natural and organic products across various industries, including cosmetics, pharmaceuticals, and aromatherapy. As consumers become more health-conscious and environmentally aware, they seek products free from synthetic chemicals and additives. Sandalwood oil, known for its aromatic properties and therapeutic benefits, has gained traction among consumers looking for natural alternatives. This trend is further supported by the perception of sandalwood oil as a premium ingredient, leading tits incorporation intluxury brands and high-quality formulations.
The cosmetics and personal care sector is a significant contributor tthe growth of the sandalwood oil market. Sandalwood oil's unique fragrance and skin-enhancing properties make it a sought-after ingredient in perfumes, lotions, soaps, and skincare products. As the beauty industry continues tevolve with a focus on clean-label products, manufacturers are increasingly incorporating sandalwood oil inttheir offerings tmeet consumer preferences for natural ingredients. This integration enhances product appeal and drives demand for sandalwood oil as an essential component in various cosmetic formulations.
The rising popularity of aromatherapy is another key factor driving the growth of the sandalwood oil market. Sandalwood oil is widely used in aromatherapy due tits calming and relaxing properties. As more individuals seek holistic wellness and stress relief approaches, the demand for essential oils, including sandalwood, has surged. This trend is particularly pronounced in regions where traditional practices emphasize using natural remedies for health and well-being. The increasing awareness of the benefits of aromatherapy further propels the demand for sandalwood oil in this segment.
Sandalwood has deep cultural significance in many Asian countries, where it is used in religious rituals, traditional medicine, and cultural practices. This longstanding tradition contributes tsustained domestic consumption of sandalwood oil in these regions. The cultural relevance of sandalwood fosters a robust home market and encourages exports tinternational markets where consumers seek authentic and traditional products. As global interest in cultural practices grows, sdoes the demand for sandalwood oil derived from these rich traditions.
One of the most pressing challenges for the sandalwood market is illegal logging and unsustainable harvesting practices. This issue has led tsevere depletion of sandalwood trees, particularly Indian sandalwood (Santalum album), which has been overexploited due thigh demand across various industries, including cosmetics and aromatherapy. The slow growth rate of sandalwood trees, which can take 15-20 years tmature, exacerbates this problem, making them vulnerable toverharvesting. As a result, regulatory interventions have been implemented tprotect sandalwood species, but these regulations can restrict supply and increase costs for legitimate producers.
Maintaining quality control in the production of sandalwood oil is another significant challenge. The market has seen an influx of synthetic or adulterated versions of sandalwood oil tmeet rising demand at lower prices. This proliferation of inferior products raises concerns about authenticity and quality among consumers. Ensuring that products meet high-quality standards requires rigorous testing and monitoring throughout production. Implementing traceability systems and quality assurance measures is essential but can be resource-intensive for producers.
Global Sandalwood Oil Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 t2030. For this study, Grand View Research has segmented the global sandalwood oil market report based on product, application, and region:
Sandalwood Oil Market Size & Trends
The global sandalwood oil market size was estimated at USD 163.0 million in 2023 and is projected tgrow at a CAGR of 7.0% from 2024 t2030. One of the primary drivers of growth in the sandalwood oil market is the increasing consumer demand for natural and organic products across various industries, including cosmetics, pharmaceuticals, and aromatherapy. As consumers become more health-conscious and environmentally aware, they seek products free from synthetic chemicals and additives. Sandalwood oil, known for its aromatic properties and therapeutic benefits, has gained traction among consumers looking for natural alternatives. This trend is further supported by the perception of sandalwood oil as a premium ingredient, leading tits incorporation intluxury brands and high-quality formulations.
The cosmetics and personal care sector is a significant contributor tthe growth of the sandalwood oil market. Sandalwood oil's unique fragrance and skin-enhancing properties make it a sought-after ingredient in perfumes, lotions, soaps, and skincare products. As the beauty industry continues tevolve with a focus on clean-label products, manufacturers are increasingly incorporating sandalwood oil inttheir offerings tmeet consumer preferences for natural ingredients. This integration enhances product appeal and drives demand for sandalwood oil as an essential component in various cosmetic formulations.
The rising popularity of aromatherapy is another key factor driving the growth of the sandalwood oil market. Sandalwood oil is widely used in aromatherapy due tits calming and relaxing properties. As more individuals seek holistic wellness and stress relief approaches, the demand for essential oils, including sandalwood, has surged. This trend is particularly pronounced in regions where traditional practices emphasize using natural remedies for health and well-being. The increasing awareness of the benefits of aromatherapy further propels the demand for sandalwood oil in this segment.
Sandalwood has deep cultural significance in many Asian countries, where it is used in religious rituals, traditional medicine, and cultural practices. This longstanding tradition contributes tsustained domestic consumption of sandalwood oil in these regions. The cultural relevance of sandalwood fosters a robust home market and encourages exports tinternational markets where consumers seek authentic and traditional products. As global interest in cultural practices grows, sdoes the demand for sandalwood oil derived from these rich traditions.
One of the most pressing challenges for the sandalwood market is illegal logging and unsustainable harvesting practices. This issue has led tsevere depletion of sandalwood trees, particularly Indian sandalwood (Santalum album), which has been overexploited due thigh demand across various industries, including cosmetics and aromatherapy. The slow growth rate of sandalwood trees, which can take 15-20 years tmature, exacerbates this problem, making them vulnerable toverharvesting. As a result, regulatory interventions have been implemented tprotect sandalwood species, but these regulations can restrict supply and increase costs for legitimate producers.
Maintaining quality control in the production of sandalwood oil is another significant challenge. The market has seen an influx of synthetic or adulterated versions of sandalwood oil tmeet rising demand at lower prices. This proliferation of inferior products raises concerns about authenticity and quality among consumers. Ensuring that products meet high-quality standards requires rigorous testing and monitoring throughout production. Implementing traceability systems and quality assurance measures is essential but can be resource-intensive for producers.
Global Sandalwood Oil Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 t2030. For this study, Grand View Research has segmented the global sandalwood oil market report based on product, application, and region:
- Product Outlook (Revenue, USD Million, 2018 - 2030)
- Natural Sandalwood Oil
- Synthetic Sandalwood Oil
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Personal Care & Cosmetics
- Pharmaceutical
- Aromatherapy
- Others
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Australia & New Zealand
- South Korea
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
CHAPTER 1. METHODOLOGY AND SCOPE
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Outlook
2.2. Product Outlook
2.3. Application Outlook
2.4. Competitive Landscape Outlook
CHAPTER 3. SANDALWOOD OIL MARKET VARIABLES, TRENDS & SCOPE
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Outlooks
3.3.2. Manufacturing and Technology Trends
3.3.3. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Market Opportunities
3.4.4. Market Challenges
3.5. Industry Analysis - Porter’s Five Forces Analysis
3.6. Market Entry Strategies
CHAPTER 4. SANDALWOOD OIL MARKET: PRODUCT ESTIMATES & TREND ANALYSIS
4.1. Sandalwood Oil Market, by Product: Key Takeaways
4.2. Product Movement Analysis & Market Share, 2023 & 2030
4.3. Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
4.3.1. Natural Sandalwood Oil
4.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
4.3.2. Synthetic Sandalwood Oil
4.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
CHAPTER 5. SANDALWOOD OIL MARKET: APPLICATION ESTIMATES & TREND ANALYSIS
5.1. Sandalwood Oil Market, by Application Channel: Key Takeaways
5.2. Application Movement Analysis & Market Share, 2023 & 2030
5.3. Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
5.3.1. Personal Care & Cosmetics
5.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
5.3.2. Pharmaceuticals
5.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
5.3.3. Aromatherapy
5.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
5.3.4. Others
5.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
CHAPTER 6. SANDALWOOD OIL MARKET: REGIONAL ESTIMATES & TREND ANALYSIS
6.1. Sandalwood Oil Market: Regional Outlook
6.2. Regional Movement Analysis & Market Share, 2023 & 2030
6.3. Market Estimates & Forecasts, by Region & Country, 2018 - 2030 (USD Million)
6.3.1. North America
6.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.1.2. U.S.
6.3.1.2.1. Key country dynamics
6.3.1.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.1.3. Canada
6.3.1.3.1. Key country dynamics
6.3.1.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.1.4. Mexico
6.3.1.4.1. Key country dynamics
6.3.1.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2. Europe
6.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.2. Germany
6.3.2.2.1. Key country dynamics
6.3.2.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.3. U.K.
6.3.2.3.1. Key country dynamics
6.3.2.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.4. France
6.3.2.4.1. Key country dynamics
6.3.2.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.5. Italy
6.3.2.5.1. Key country dynamics
6.3.2.5.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.6. Spain
6.3.2.6.1. Key country dynamics
6.3.2.6.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.3. Asia Pacific
6.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.3.2. China
6.3.3.2.1. Key country dynamics
6.3.3.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.3.3. Japan
6.3.3.3.1. Key country dynamics
6.3.3.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.3.4. India
6.3.3.4.1. Key country dynamics
6.3.3.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.3.5. Australia & New Zealand
6.3.3.5.1. Key country dynamics
6.3.3.5.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.3.6. South Korea
6.3.3.6.1. Key country dynamics
6.3.3.6.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.4. Central & South America
6.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.4.2. Brazil
6.3.4.2.1. Key country dynamics
6.3.4.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.5. Middle East & Africa
6.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.5.2. South Africa
6.3.5.2.1. Key country dynamics
CHAPTER 7. COMPETITIVE ANALYSIS
7.1. Recent Developments & Impact Analysis, by Key Market Participants
7.2. Company Categorization
7.3. Participant’s Overview
7.4. Financial Performance
7.5. Source Benchmarking
7.6. Company Market Share Analysis, 2023 (%)
7.7. Company Heat Map Analysis
7.8. Strategy Mapping
7.9. Company Profiles
7.9.1. Quintis
7.9.2. Meena Perfumery
7.9.3. RK-Essential Oils
7.9.4. Santanol Group
7.9.5. KS&DL (Karnataka Soaps and Detergents Limited)
7.9.6. Shiva Exports India
7.9.7. Eden Botanicals
7.9.8. Plant Therapy Essential Oils
7.9.9. Haldin International
7.9.10. Aroma Magic
7.9.11. Doterra International LLC
7.9.12. CLIARA ESSENTIAL OILS
7.9.13. Shubham Natural Fragrances
7.9.14. Sunrise Agriland Development & Research Pvt. Ltd.
7.9.15. Herbo Nutra Extract Private Limited
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Outlook
2.2. Product Outlook
2.3. Application Outlook
2.4. Competitive Landscape Outlook
CHAPTER 3. SANDALWOOD OIL MARKET VARIABLES, TRENDS & SCOPE
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Outlooks
3.3.2. Manufacturing and Technology Trends
3.3.3. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Market Opportunities
3.4.4. Market Challenges
3.5. Industry Analysis - Porter’s Five Forces Analysis
3.6. Market Entry Strategies
CHAPTER 4. SANDALWOOD OIL MARKET: PRODUCT ESTIMATES & TREND ANALYSIS
4.1. Sandalwood Oil Market, by Product: Key Takeaways
4.2. Product Movement Analysis & Market Share, 2023 & 2030
4.3. Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Million)
4.3.1. Natural Sandalwood Oil
4.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
4.3.2. Synthetic Sandalwood Oil
4.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
CHAPTER 5. SANDALWOOD OIL MARKET: APPLICATION ESTIMATES & TREND ANALYSIS
5.1. Sandalwood Oil Market, by Application Channel: Key Takeaways
5.2. Application Movement Analysis & Market Share, 2023 & 2030
5.3. Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Million)
5.3.1. Personal Care & Cosmetics
5.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
5.3.2. Pharmaceuticals
5.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
5.3.3. Aromatherapy
5.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
5.3.4. Others
5.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
CHAPTER 6. SANDALWOOD OIL MARKET: REGIONAL ESTIMATES & TREND ANALYSIS
6.1. Sandalwood Oil Market: Regional Outlook
6.2. Regional Movement Analysis & Market Share, 2023 & 2030
6.3. Market Estimates & Forecasts, by Region & Country, 2018 - 2030 (USD Million)
6.3.1. North America
6.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.1.2. U.S.
6.3.1.2.1. Key country dynamics
6.3.1.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.1.3. Canada
6.3.1.3.1. Key country dynamics
6.3.1.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.1.4. Mexico
6.3.1.4.1. Key country dynamics
6.3.1.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2. Europe
6.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.2. Germany
6.3.2.2.1. Key country dynamics
6.3.2.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.3. U.K.
6.3.2.3.1. Key country dynamics
6.3.2.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.4. France
6.3.2.4.1. Key country dynamics
6.3.2.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.5. Italy
6.3.2.5.1. Key country dynamics
6.3.2.5.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2.6. Spain
6.3.2.6.1. Key country dynamics
6.3.2.6.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.3. Asia Pacific
6.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.3.2. China
6.3.3.2.1. Key country dynamics
6.3.3.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.3.3. Japan
6.3.3.3.1. Key country dynamics
6.3.3.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.3.4. India
6.3.3.4.1. Key country dynamics
6.3.3.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.3.5. Australia & New Zealand
6.3.3.5.1. Key country dynamics
6.3.3.5.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.3.6. South Korea
6.3.3.6.1. Key country dynamics
6.3.3.6.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.4. Central & South America
6.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.4.2. Brazil
6.3.4.2.1. Key country dynamics
6.3.4.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.5. Middle East & Africa
6.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.5.2. South Africa
6.3.5.2.1. Key country dynamics
CHAPTER 7. COMPETITIVE ANALYSIS
7.1. Recent Developments & Impact Analysis, by Key Market Participants
7.2. Company Categorization
7.3. Participant’s Overview
7.4. Financial Performance
7.5. Source Benchmarking
7.6. Company Market Share Analysis, 2023 (%)
7.7. Company Heat Map Analysis
7.8. Strategy Mapping
7.9. Company Profiles
7.9.1. Quintis
7.9.2. Meena Perfumery
7.9.3. RK-Essential Oils
7.9.4. Santanol Group
7.9.5. KS&DL (Karnataka Soaps and Detergents Limited)
7.9.6. Shiva Exports India
7.9.7. Eden Botanicals
7.9.8. Plant Therapy Essential Oils
7.9.9. Haldin International
7.9.10. Aroma Magic
7.9.11. Doterra International LLC
7.9.12. CLIARA ESSENTIAL OILS
7.9.13. Shubham Natural Fragrances
7.9.14. Sunrise Agriland Development & Research Pvt. Ltd.
7.9.15. Herbo Nutra Extract Private Limited
