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Agarwood Chips Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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    Report

  • 257 Pages
  • December 2023
  • Region: Global
  • Fairfield Market Research
  • ID: 5918240
Description Jump to:
The global agarwood chips market, characterized by the exotic and fragrant resin-suffused wood known as agarwood, oud, or aloeswood, is on a fragrant growth trajectory. The market has witnessed a remarkable growth, culminating in a valuation of US$ 45 billion in 2024. According to a study, the global sales of agarwood chips are estimated to continue their aromatic journey, the market is expected to reach a mesmerizing size of approximately US$ 80 billion by the end of 2031.

Cultural Significance in UAE Drives Demand

Agarwood holds deep cultural significance in the United Arab Emirates (UAE) and Arabic culture. High-grade agarwood chips are used in traditional practices such as honoring guests and perfuming garments before special occasions and prayers. The preciousness and luxury associated with agarwood contribute to its high price, making it a symbol of status and prestige. As a part of the heritage and cultural identity of the UAE, the continuous demand for agarwood chips in the region is bolstering market growth.

Rising Demand in the Fragrance Industry

Agarwood is a key ingredient in the production of high-end perfumes and incense. The global supply of agarwood meets only a fraction of the demand, with bulk supply coming from Southeast Asian countries. Manufacturers are introducing innovative agarwood-based products in their portfolios, catering to the high-end fragrance market.

Hurdles in Agarwood Adoption

Price fluctuations and trade restrictions are impacting the adoption of agarwood chips. Fluctuations in import prices directly affect retail prices, leading to instability in the market. Trade restrictions in countries like India contribute to rising prices.

UAE: A Lucrative Market

The Middle East's deep cultural integration of agarwood and its products, coupled with rapid development in the region, makes the UAE a lucrative market for agarwood chip manufacturers.

Competitive Landscape

Market players are emphasizing advanced manufacturing techniques to offer high-quality agarwood chips. Some are diversifying their product offerings to include innovative agarwood-based products such as jewelry and accessories, agarwood soap bars, and agarwood-infused teas and biscuits.

Key Companies in the Agarwood Chips Market

  • Grandawood Agarwood Australia
  • Binh Nghia Agarwood Co., Ltd
  • Hoang Giang Agarwood Ltd.
  • Aalam Ul Oud
  • KAB Industries
  • Duy Hai AGARWOOD
  • Thien Phu Agarwood Co., Ltd
  • Asia Plantation Capital Pte Ltd.
  • Ori Oud Asia
  • ASSAM AROMAS
  • Sadaharitha Plantations Limited
  • Green Agro
  • Thai Borai Agarwood Co., Ltd.
  • KANHA AROMA
  • Homegrown Concept Sdn Bhd (HGC)
  • THE MJI GROUP
  • Sai Export India
  • Kamil Swarga Woods Ltd
  • THE WESTWOOD GROUP
The global agarwood chips market is poised to continue its fragrant journey, driven by cultural significance, demand in the fragrance industry, and innovative product offerings.

Market Segmentation

By Nature:

  • Organic
  • Conventional

By End Use:

  • Incense Sticks
  • Fragrances (Perfumes)
  • Retail/ Household

By Distribution Channel:

  • Business to Business (B2B)
  • Business to Consumers (B2C)
  • Hypermarket/Supermarket
  • Specialty Stores
  • Online Retail

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

This product will be delivered within 1-3 business days.

Table of Contents

1. Executive Summary
1.1. Global Agarwood Chips Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Global Agarwood Chips Market Outlook, 2018 - 2031
3.1. Global Agarwood Chips Market Outlook, by Nature, Value (US$ Bn), 2018 - 2031
3.1.1. Key Highlights
3.1.1.1. Organic
3.1.1.2. Conventional
3.2. Global Agarwood Chips Market Outlook, by End Use, Value (US$ Bn), 2018 - 2031
3.2.1. Key Highlights
3.2.1.1. Incense Sticks
3.2.1.2. Fragrances (Perfumes)
3.2.1.3. Retail/ Household
3.3. Global Agarwood Chips Market Outlook, by Distribution Channel, Value (US$ Bn), 2018 - 2031
3.3.1. Key Highlights
3.3.1.1. Business to Business (B2B)
3.3.1.2. Business to Consumers (B2C)
3.3.1.2.1. Hypermarket/Supermarket
3.3.1.2.2. Specialty Stores
3.3.1.2.3. Online Retail
3.4. Global Agarwood Chips Market Outlook, by Region, Value (US$ Bn), 2018 - 2031
3.4.1. Key Highlights
3.4.1.1. North America
3.4.1.2. Europe
3.4.1.3. Asia Pacific
3.4.1.4. Latin America
3.4.1.5. Middle East & Africa
4. North America Agarwood Chips Market Outlook, 2018 - 2031
4.1. North America Agarwood Chips Market Outlook, by Nature, Value (US$ Bn), 2018 - 2031
4.1.1. Key Highlights
4.1.1.1. Organic
4.1.1.2. Conventional
4.2. North America Agarwood Chips Market Outlook, by End Use, Value (US$ Bn), 2018 - 2031
4.2.1. Key Highlights
4.2.1.1. Incense Sticks
4.2.1.2. Fragrances (Perfumes)
4.2.1.3. Retail/ Household
4.3. North America Agarwood Chips Market Outlook, by Distribution Channel, Value (US$ Bn), 2018 - 2031
4.3.1. Key Highlights
4.3.1.1. Business to Business (B2B)
4.3.1.2. Business to Consumers (B2C)
4.3.1.2.1. Hypermarket/Supermarket
4.3.1.2.2. Specialty Stores
4.3.1.2.3. Online Retail
4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America Agarwood Chips Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
4.4.1. Key Highlights
4.4.1.1. U.S. Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
4.4.1.2. U.S. Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
4.4.1.3. U.S. Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
4.4.1.4. Canada Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
4.4.1.5. Canada Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
4.4.1.6. Canada Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
4.4.2. BPS Analysis/Market Attractiveness Analysis
5. Europe Agarwood Chips Market Outlook, 2018 - 2031
5.1. Europe Agarwood Chips Market Outlook, by Nature, Value (US$ Bn), 2018 - 2031
5.1.1. Key Highlights
5.1.1.1. Organic
5.1.1.2. Conventional
5.2. Europe Agarwood Chips Market Outlook, by End Use, Value (US$ Bn), 2018 - 2031
5.2.1. Key Highlights
5.2.1.1. Incense Sticks
5.2.1.2. Fragrances (Perfumes)
5.2.1.3. Retail/ Household
5.3. Europe Agarwood Chips Market Outlook, by Distribution Channel, Value (US$ Bn), 2018 - 2031
5.3.1. Key Highlights
5.3.1.1. Business to Business (B2B)
5.3.1.2. Business to Consumers (B2C)
5.3.1.2.1. Hypermarket/Supermarket
5.3.1.2.2. Specialty Stores
5.3.1.2.3. Online Retail
5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Agarwood Chips Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
5.4.1. Key Highlights
5.4.1.1. Germany Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
5.4.1.2. Germany Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
5.4.1.3. Germany Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
5.4.1.4. U.K. Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
5.4.1.5. U.K. Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
5.4.1.6. U.K. Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
5.4.1.7. France Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
5.4.1.8. France Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
5.4.1.9. France Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
5.4.1.10. Italy Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
5.4.1.11. Italy Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
5.4.1.12. Italy Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
5.4.1.13. Turkey Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
5.4.1.14. Turkey Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
5.4.1.15. Turkey Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
5.4.1.16. Russia Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
5.4.1.17. Russia Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
5.4.1.18. Russia Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
5.4.1.19. Rest of Europe Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
5.4.1.20. Rest of Europe Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
5.4.1.21. Rest of Europe Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
5.4.2. BPS Analysis/Market Attractiveness Analysis
6. Asia Pacific Agarwood Chips Market Outlook, 2018 - 2031
6.1. Asia Pacific Agarwood Chips Market Outlook, by Nature, Value (US$ Bn), 2018 - 2031
6.1.1. Key Highlights
6.1.1.1. Organic
6.1.1.2. Conventional
6.2. Asia Pacific Agarwood Chips Market Outlook, by End Use, Value (US$ Bn), 2018 - 2031
6.2.1. Key Highlights
6.2.1.1. Incense Sticks
6.2.1.2. Fragrances (Perfumes)
6.2.1.3. Retail/ Household
6.3. Asia Pacific Agarwood Chips Market Outlook, by Distribution Channel, Value (US$ Bn), 2018 - 2031
6.3.1. Key Highlights
6.3.1.1. Business to Business (B2B)
6.3.1.2. Business to Consumers (B2C)
6.3.1.2.1. Hypermarket/Supermarket
6.3.1.2.2. Specialty Stores
6.3.1.2.3. Online Retail
6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Agarwood Chips Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
6.4.1. Key Highlights
6.4.1.1. China Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
6.4.1.2. China Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
6.4.1.3. China Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
6.4.1.4. Japan Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
6.4.1.5. Japan Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
6.4.1.6. Japan Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
6.4.1.7. South Korea Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
6.4.1.8. South Korea Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
6.4.1.9. South Korea Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
6.4.1.10. India Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
6.4.1.11. India Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
6.4.1.12. India Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
6.4.1.13. Southeast Asia Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
6.4.1.14. Southeast Asia Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
6.4.1.15. Southeast Asia Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
6.4.1.16. Rest of Asia Pacific Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
6.4.1.17. Rest of Asia Pacific Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
6.4.1.18. Rest of Asia Pacific Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
6.4.2. BPS Analysis/Market Attractiveness Analysis
7. Latin America Agarwood Chips Market Outlook, 2018 - 2031
7.1. Latin America Agarwood Chips Market Outlook, by Nature, Value (US$ Bn), 2018 - 2031
7.1.1. Key Highlights
7.1.1.1. Organic
7.1.1.2. Conventional
7.2. Latin America Agarwood Chips Market Outlook, by End Use, Value (US$ Bn), 2018 - 2031
7.2.1.1. Incense Sticks
7.2.1.2. Fragrances (Perfumes)
7.2.1.3. Retail/ Household
7.3. Latin America Agarwood Chips Market Outlook, by Distribution Channel, Value (US$ Bn), 2018 - 2031
7.3.1. Key Highlights
7.3.1.1. Business to Business (B2B)
7.3.1.2. Business to Consumers (B2C)
7.3.1.2.1. Hypermarket/Supermarket
7.3.1.2.2. Specialty Stores
7.3.1.2.3. Online Retail
7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Agarwood Chips Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
7.4.1. Key Highlights
7.4.1.1. Brazil Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
7.4.1.2. Brazil Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
7.4.1.3. Brazil Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
7.4.1.4. Mexico Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
7.4.1.5. Mexico Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
7.4.1.6. Mexico Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
7.4.1.7. Argentina Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
7.4.1.8. Argentina Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
7.4.1.9. Argentina Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
7.4.1.10. Rest of Latin America Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
7.4.1.11. Rest of Latin America Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
7.4.1.12. Rest of Latin America Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
7.4.2. BPS Analysis/Market Attractiveness Analysis
8. Middle East & Africa Agarwood Chips Market Outlook, 2018 - 2031
8.1. Middle East & Africa Agarwood Chips Market Outlook, by Nature, Value (US$ Bn), 2018 - 2031
8.1.1. Key Highlights
8.1.1.1. Organic
8.1.1.2. Conventional
8.2. Middle East & Africa Agarwood Chips Market Outlook, by End Use, Value (US$ Bn), 2018 - 2031
8.2.1. Key Highlights
8.2.1.1. Incense Sticks
8.2.1.2. Fragrances (Perfumes)
8.2.1.3. Retail/ Household
8.3. Middle East & Africa Agarwood Chips Market Outlook, by Distribution Channel, Value (US$ Bn), 2018 - 2031
8.3.1. Key Highlights
8.3.1.1. Business to Business (B2B)
8.3.1.2. Business to Consumers (B2C)
8.3.1.2.1. Hypermarket/Supermarket
8.3.1.2.2. Specialty Stores
8.3.1.2.3. Online Retail
8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Agarwood Chips Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
8.4.1. Key Highlights
8.4.1.1. GCC Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
8.4.1.2. GCC Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
8.4.1.3. GCC Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
8.4.1.4. South Africa Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
8.4.1.5. South Africa Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
8.4.1.6. South Africa Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
8.4.1.7. Egypt Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
8.4.1.8. Egypt Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
8.4.1.9. Egypt Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
8.4.1.10. Nigeria Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
8.4.1.11. Nigeria Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
8.4.1.12. Nigeria Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
8.4.1.13. Rest of Middle East & Africa Agarwood Chips Market by Nature, Value (US$ Bn), 2018 - 2031
8.4.1.14. Rest of Middle East & Africa Agarwood Chips Market by End Use, Value (US$ Bn), 2018 - 2031
8.4.1.15. Rest of Middle East & Africa Agarwood Chips Market by Distribution Channel, Value (US$ Bn), 2018 - 2031
8.4.2. BPS Analysis/Market Attractiveness Analysis
9. Competitive Landscape
9.1. By Distribution Channel vs by End Use Heat map
9.2. Manufacturer vs by End Use Heat map
9.3. Company Market Share Analysis, 2023
9.4. Competitive Dashboard
9.5. Company Profiles
9.5.1. Grandawood Agarwood Australia
9.5.1.1. Company Overview
9.5.1.2. Product Portfolio
9.5.1.3. Financial Overview
9.5.1.4. Business Strategies and Development
9.5.2. Binh Nghia Agarwood Co.
9.5.2.1. Company Overview
9.5.2.2. Product Portfolio
9.5.2.3. Financial Overview
9.5.2.4. Business Strategies and Development
9.5.3. Hoang Giang Agarwood Ltd.
9.5.3.1. Company Overview
9.5.3.2. Product Portfolio
9.5.3.3. Financial Overview
9.5.3.4. Business Strategies and Development
9.5.4. Aalam Ul
9.5.4.1. Company Overview
9.5.4.2. Product Portfolio
9.5.4.3. Financial Overview
9.5.4.4. Business Strategies and Development
9.5.5. Thien Phu agarwood Co.
9.5.5.1. Company Overview
9.5.5.2. Product Portfolio
9.5.5.3. Financial Overview
9.5.5.4. Business Strategies and Development
9.5.6. Duy Hai AGARWOOD.
9.5.6.1. Company Overview
9.5.6.2. Product Portfolio
9.5.6.3. Financial Overview
9.5.6.4. Business Strategies and Development
9.5.7. Asia Plantation Capital Pte Ltd.
9.5.7.1. Company Overview
9.5.7.2. Product Portfolio
9.5.7.3. Financial Overview
9.5.7.4. Business Strategies and Development
9.5.8. Ori Oud Asia
9.5.8.1. Company Overview
9.5.8.2. Product Portfolio
9.5.8.3. Financial Overview
9.5.8.4. Business Strategies and Development
9.5.9. ASSAM AROMAS
9.5.9.1. Company Overview
9.5.9.2. Product Portfolio
9.5.9.3. Financial Overview
9.5.9.4. Business Strategies and Development
9.5.10. Sadaharitha plantations limited
9.5.10.1. Company Overview
9.5.10.2. Product Portfolio
9.5.10.3. Financial Overview
9.5.10.4. Business Strategies and Development
9.5.11. Green Agro
9.5.11.1. Company Overview
9.5.11.2. Product Portfolio
9.5.11.3. Financial Overview
9.5.11.4. Business Strategies and Development
9.5.12. Thai Borai Agarwood Co.
9.5.12.1. Company Overview
9.5.12.2. Product Portfolio
9.5.12.3. Financial Overview
9.5.12.4. Business Strategies and Development
9.5.13. Homegrown Concept Sdn Bhd (HGC)
9.5.13.1. Company Overview
9.5.13.2. Product Portfolio
9.5.13.3. Financial Overview
9.5.13.4. Business Strategies and Development
9.5.14. THE MJI GROUP
9.5.14.1. Company Overview
9.5.14.2. Product Portfolio
9.5.14.3. Financial Overview
9.5.14.4. Business Strategies and Development
9.5.15. Sai Export India
9.5.15.1. Company Overview
9.5.15.2. Product Portfolio
9.5.15.3. Financial Overview
9.5.15.4. Business Strategies and Development
9.5.16. Kamil Swarga Woods Ltd
9.5.16.1. Company Overview
9.5.16.2. Product Portfolio
9.5.16.3. Financial Overview
9.5.16.4. Business Strategies and Development
9.5.17. THE WESTWOOD GROUP.
9.5.17.1. Company Overview
9.5.17.2. Product Portfolio
9.5.17.3. Financial Overview
9.5.17.4. Business Strategies and Development
10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations

Companies Mentioned

  • Grandawood Agarwood Australia
  • Binh Nghia Agarwood Co., Ltd
  • Hoang Giang Agarwood Ltd.
  • Aalam Ul Oud
  • KAB Industries
  • Duy Hai AGARWOOD.
  • Thien Phu agarwood Co.,Ltd
  • Asia Plantation Capital Pte Ltd.
  • Ori Oud Asia
  • ASSAM AROMAS
  • Sadaharitha plantations limited
  • Green Agro
  • Thai Borai Agarwood Co.,Ltd.
  • KANHA AROMA
  • Homegrown Concept Sdn Bhd (HGC)
  • THE MJI GROUP,
  • Sai Export India
  • Kamil Swarga Woods Ltd
  • THE WESTWOOD GROUP.

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