The global Agarwood Essential Oil market was valued at US$ 136.3 million in 2022 and is projected to reach US$ 170.6 million by 2029, at a CAGR of 3.3% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

Agarwood, also known as Aloeswood is one of the most precious, rare and most expensive Essential Oil in existence today. The production of resin can take many years in the wild, like a good wine. Due to its huge cost and extreme rarity in the wild, trees are now cultivated and the resin is actually created artificially and then extracted by water distillation. Agarwood plantations have been developed in a number of countries, such as Sri Lanka and Malyasia as commercial crops specially to produce agar wood essential oils. Agarwood essential oil has a religious, traditional as well as cultural uses in many parts of the world. Superior quality agar wood is one of the most costly raw material in the world which makes agar wood essential oils among the expensive essential oil available commercially.

This report aims to provide a comprehensive presentation of the global market for Agarwood Essential Oil, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the