Report Ocean introduces a fresh report examining the ‘Global Cedarwood Oil Market’, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Global Cedarwood Oil Market is valued at approximately USD 0.32 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.6% over the forecast period 2022-2029.
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Cedarwood Oil refers to an essential oil which is derived from the leaves, berries, needles, and barks of cedar trees. There are different types of Cedarwood oil categorized based on the type of Cedar including Atlas cedarwood (also known as Cedrus atlantica), Chinese cedarwood (known as Chamaecyparis funebris or Cupressus funebris), Himalyan cedarwood, Port Orford cedarwood, Chamaecyparis lawsoniana, Texas cedarwood, (also known as Juniperus) and Virginian Cedarwood also called red cedar or Eastern red cedar among others. It is widely used as an ingredient in deodorants, shampoos, colognes, and insect-repellent products. Moreover, due to its soothing scent, it is also utilized in aromatherapy applications to reduce stress and ease tension. Cedarwood Oil has anti-inflammatory and antimicrobial properties which makes it ideal for treating different skin conditions including acne, hair care, and facial treatment applications. The increasing expansion of cosmetics & personal care sector and rising utilization in FMCG products due to healthcare properties associated with cedarwood oil as well as recent strategic initiatives from leading market players are accelerating the market growth.
The rapid expansion of cosmetics & personal care market is contributing to the growth of the Global Cedarwood Oil Market. For instance, according to Statista – in 2020, the global skincare market was valued at USD 136.4 billion, and the market is projected to grow to USD 187.68 billion by 2026. Moreover, as per Statista – as of 2022, the revenue in the Personal Care segment is estimated at USD 238.90 billion, and the global revenue is expected to show an annual growth rate of 10.77% in 2022 -2025 period to reach a market volume of USD 324.7 billion by 2025. Also, increasing incidences of depression and anxiety disorder and growing popularity of wellness tourism in countries such as China and India would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Cedarwood Oil and associated side effects of prolonged exposure to Cedarwood Oil such as liver and pulmonary toxicity stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cedarwood Oil Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the increasing utilization of Virginian Cedarwood Oil and growing preference towards plant-based personal care products in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising popularity of aromatherapy for the treatment of chronic pain and anxiety disorders as well as growing expansion of e-commerce industry in the region.
Major market players included in this report are:
- Grayden Cedar Works
- Henan Allgreen Chemical Co. Ltd
- ORCHID Chemical Supplies Ltd
- Finetech Industry Limited
- Shanghai Eykits
- Foreverest Resources Ltd
- SSS biotic.com
- Texarome
- Venus Enterprise Limited
- Wuhan Shenqu Biological Chemical Co. Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Application
Aromatherapy
Cosmetics and skincare products
Toiletries
By Industrial Use
Pharmaceuticals
Spa & Relaxation
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
The following are significant aspects of the industry that may be relevant:
Market Size and Growth: The size of the market and its projected growth rate are essential factors that can provide valuable insights into the industry’s potential.
Competition: The level of competition in the market is a significant factor that can impact the pricing and profitability of companies operating in the industry.
Technology: Technology plays a critical role in the industry as search algorithms and consumer behavior continue to evolve rapidly.
Consumer Behavior: Understanding consumer behavior, such as search habits and preferences, can help companies optimize their marketing strategies and drive sales.
Regulatory Environment: The industry is subject to various regulatory requirements, including data protection and privacy laws, which can impact the way companies operate in the market.
Economic Factors: Economic factors, such as GDP, inflation, and consumer spending, can affect the growth and profitability of the industry.
Emerging Trends: Staying updated with emerging trends, such as voice search and artificial intelligence, can help companies stay ahead of the curve in the industry.
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