A research on the market for agarwood chips was released by Persistence Market Research. The agarwood chips market is predicted to reach a value of more than US$ 32 Bn by the end of 2019, according to this market report, which covers the historical period of 2014–2018 and the assessment period of 2019–2029. By the end of 2029, the market for agarwood chips is anticipated to be worth close to US$ 64 billion.
Request for Free Sample Copy@ https://www.persistencemarketresearch.com/samples/29233
Agarwood Chips Market faces its biggest challenge because of a lack of natural supply.
Due to its uncontrolled felling, agarwood is an endangered plant that is protected globally under CITES conservation. At best, the supply from agarwood forests is constrained. Agarwood trees mature fully in between 50 and 100 years. This causes agarwood to become scarcer naturally, which has an impact on how agarwood chips are made. Agarwood chips are in high demand worldwide, however there is a limited supply due to the depletion of natural resources.
Key Producers of Agarwood Chips
Some of the key players involved in the agarwood chips market are Hoang Giang Agarwood Ltd, Lao Agar International Development Co. Ltd., Asia Plantation Capital Pte Ltd., Nagaland Agarwood Company, WEFIVE group, K.A.B. Industries, Agarvina Co. Ltd., Green Agro Agarwood Products Sdn. Bhd., Sadaharitha Plantations Limited, Assam Aromas, Binh Nghia Agarwood Co. Ltd., Po Luo Senko Agarwood, OudAsia, Myanma Treasure Co-op., Ltd., and Homegrown Concept Sdn Bhd.
Get up to 20% discount on Full Report Purchase @ https://www.persistencemarketresearch.com/checkout/29233
Agarwood Chips Market: Segmentation
PMR’s study assesses the agarwood chips market on the basis of nature, end use, distribution channel, and region. It includes a segmental analysis of the these chips market, and offer in-depth insights on how the various dynamics and trends associated with each segment will impact the growth of this market.
Nature
- Organic
- Conventional
End Use
- Retail
- Industrial
- Ayurveda Medicines
- Incense Sticks
- Personal Care & Cosmetics
Distribution Channel
- Business to Business
- Business to Consumer
- Hypermarkets/Supermarkets
- Specialty Stores
- Online
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Cultural Demand from the UAE Boosting Agarwood Chips Market Growth
Agarwood is an important part of Arabic culture in general. In Arabic countries, people use high-grade these chips and burn them to honor guests. They also have a tradition of using it’s perfumes for special occasions and while preparing for prayers. The high price of this is considered an indicator of its preciousness and luxury. The quality of the aroma can be viewed as an indication of status and prestige.
Agarwood is seen as a part of the heritage and cultural identity of the UAE. Thus, the continuous cultural demand for these chips in the UAE is boosting the market for these chips in the UAE.
Request For Customization @ https://www.persistencemarketresearch.com/request-customization/29233
FAQ’s:
- How is the legal framework governing the trade of agarwood and its products?
- How is the agarwood chips market predicted to develop in the future?
- What are key opportunities and challenges faced by these chips market players?
- Which approaches and constraints are holding these chips market tight?
About Us
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
Contact Us
Persistence market research
Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com