According to a new market report published by Lucintel, the future of the guaiacwood oil market looks promising with opportunities in personal care products, fragrances, and aromatherapy. The global guaiacwood oil market is expected to grow with a CAGR of XX% from 2020 to 2025. The major drivers for this market are increasing demand for guaiacwood oil in the cosmetics industry, healthcare therapies, increase in per capita income has led to consumers spending more on luxury goods and items such as high-end personal care products as well as fragrances, this is anticipated to surge the demand of guaiacwood essential oil in the market.
In this market, blend, and pure are the major product types. Lucintel forecasts that pure will remain the largest segment over the forecast period because of increasing demand for several industries such as cosmetics, fragrance, and others.
Within this market, personal care products, fragrances, and aromatherapy are the major applications of guaiacwood oil. Fragrances will remain the largest segment by application type over the forecast period due to increasing demand for the production of several personal care products coupled with healthy and tightening skin benefits, which is another factor expected to support growth of the global market.
Asia-Pacific is expected to witness the highest growth over the forecast period due to due to the high production of guaiacwood oil in countries such as India and China in the Asia Pacific region; the rising popularity of aromatherapy products also boost growth of the global market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global guaiacwood oil market by product type, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Guaiacwood Oil Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global guaiacwood oil market by product type, application, and region as follows:
By Product Type [Value ($ Million) shipment analysis for 2014 – 2025]:
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Personal Care Products
Fragrances
Aromatherapy
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
Germany
United Kingdom
France
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
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