Sandalwood Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

Sandalwood Market 

The global Sandalwood revenue was US$ 265.8 million in 2022 and is forecast to a readjusted size of US$ 502.2 million by 2029 with a CAGR of 9.4% during the forecast period (2023–2029).

Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-12K16104/Global_and_India_Sandalwood_Market_Report_Forecast_2023_2029

The increased demand for sandalwood and its derivatives across a range of sectors, including as aromatherapy, cosmetics, and medicines, is driving the growth of the sandalwood market. Sandalwood is a highly prized element in fragrances, skincare products, and traditional medicines because of its fragrant qualities and medicinal effects. The demand for sandalwood on the international market is being further driven by consumers’ growing inclination for natural and organic products.

A genus of woody blooming trees and shrubs, sandalwood belongs to the family Santalum. Numerous species yield a very scented wood, and the majority are semi-parasitic. While other species are also utilized for their fragrance, Indian sandalwood (Santalum album) and Australian sandalwood (Santalum spicatum) are the most often used species. 

With a 69% market share, Australia is the largest Sandalwood market. India, with a 20 percent market share, is a follower.

Asia-Pacific is the largest sandalwood market, mostly due to the high demand for sandalwood goods in nations like Australia, China, and India. The region’s long-standing traditional and cultural applications of sandalwood, together with the rising demand for natural goods, are major drivers of market expansion. Due to the growing usage of sandalwood in high-end cosmetics and aromatherapy products, North America and Europe are also important markets.

By Type

  • Indian Sandalwood
  • Australian Sandalwood

By Application

  • Personal Care
  • Aromatherapy
  • Pharmaceuticals
  • Sculpture
  • Furniture

Key Companies

Quintis, FPC, WA Sandalwood Plantations, Australian Sandalwood, Santanol Group, KS&DL, Sandalwood Forest

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-12K16104/global-and-india-sandalwood

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