Essential oils are basically the oils that are extracted from a plant source and is having aroma compounds from the plant from which it has been extracted. The guaiacwood oil essential oil, which is also known as guatacan, is obtained from the wood of Bulnesia Sarmientoi plant, which is found in the Latin American regions. This essential oil has a very strong woody and sensual fragrance. Because of these properties, it is widely used in soap, perfumes, incense, and candle manufacturing processes. Adding to that, this guaiacwood oil also imparts several health benefits such as reducing stress and anxiety, anti-inflammatory properties, and lymphatic decongestant. Also, this oil is used in aromatherapy process in order to relieve anxiety and tension. However, the high cost associated with this oil and a high doze leading to several health issues like diarrhea, intestinal problems, and others hinder the growth of this market.
Covid-19 Impact Analysis
- The coronavirus's unfavorable global effects are already evident, and they will have a big impact on the guaiacwood oil in 2020.
- The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
- The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
- Since the pandemic, the restriction of imports and exports has affected the market to a great extent as the consumers are having difficult time attending the therapeutic sessions. However, an upsurge is expected once the market resumes as the sessions help in releasing stress, which will be in demand.
Top Impacting Factors
Increasing demand for guaiacwood essential oil in developed and developing countries due to rising use of oil in several applications is a key factor expected to fuel the growth of guaiacwood essential oil in the upcoming years. Also, the rise in per-capita income of individual in developing country along with the expansion of perfume industry across the globe are some of the major factors that anticipate the growth of global market of this essential oil in upcoming years. Also, the focus on personal care in the recent era has led to demand for the essential oil in the cosmetic industries, which also is coupled with healthy and tightening skin benefits. Also, for the getaway from hectic lifestyle across the globe this oil is in great demand as it is used in therapeutic sessions. Because of its economical price point of view and strong fragrance profile, the perfume containing this oil has a very high demand in the market.
Market trends
- Slow and steady expansion of local fragrance market is increasing the demand for guaiacwood essential oil.
- The essential oil is used extensively in high quality perfume because of its extremely soothing and woody aroma profile. In developed countries in Europe and North America, where the per capita income is high, the consumers are enabling themselves to spend more on luxury products such as perfumes and personal care product and in this case also essential oil is having a great demand
- A strong inclination toward alternative therapies is anticipated to increase the demand for guaiacwood essential oil in recent times.
- Since guaiacwood Oil has several properties and one among them is an excellent therapeutic property. This property is used in aromatherapy extensively to release tension and anxiety. And owing to such increased awareness about negative effect of allopathic and Ayurvedic medicine, a large proportion of consumers are inclining toward therapies such as aromatherapy, mainly in North America, Europe and Asia-Pacific regions. This has resulted in rise of the essential oil demand in the market.
- Due to advanced medicinal properties and the rising prices of medicines, guaiacwood Oil is a cost-effective alternative.
- Guaiacwood essential oil is also known to be anti-inflammatory agent and anti-fluid retention agent. This essential oil is used for its therapeutic properties to elevate muscles and joint inflammation caused by rheumatism. Due to this essential oil's anti-fluid retention properties, it is used in treatment of health conditions such as gout where fluid retention is a major issue.
Key Benefits of the Report
This study presents the analytical depiction of the guaiacwood oil industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the guaiacwood oil market share.
- The current market is quantitatively analyzed to highlight the guaiacwood oil market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed G guaiacwood oil market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Guaiacwood Oil Market Report
- Who are the leading market players active in the Guaiacwood Oil market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is “Guaiacwood Oil “?
- What does “Guaiacwood Oil " allow organizations to achieve?
- Which technologies combine to make “Guaiacwood Oil “a critical organizational asset?
- What is " Guaiacwood Oil” Market prediction in the future?
- Who are the leading global players in the “Guaiacwood Oil” market?
- What are the current trends and predicted trends?
- What are the challenges faced in the “Guaiacwood Oil” Market?
- What are the key benefits of the “Guaiacwood Oil “Market report?
- What will be the anticipated growth rates for your own Guaiacwood Oil Market economy altogether and for every segment inside?
- What are the driving factors and opportunities in the market?
Guaiacwood Oil Market Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By Region |
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 Key Market Players | Ernesto Ventos S.A., Vigon International Inc, Ultra International Limited, Plantlife Inc, Divine Essence, The Lebermuth Co Inc, Albert Vieille SAS, Venkatramna Industries, Health and Beauty Natural Oils, HYSSES |
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