Guaiacwood essential oil Market: Overview
Essential oils are the oils that have been extracted from a plant source, and which contain aroma compounds from the plant from which it has been extracted. Guaiacwood essential oil is derived from Bulnesia Sarmientoi plant which is found growing wild in Latin American regions. The guaiacwood essential oil is obtained from the wood of the plant, which has a strong and sensual woody fragrance with rose undertones. Guaiacwood essential oil has been a perfumer’s favorite due to its economical price point and strong performance, ever since it was brought in commercial use from the 1890’s. Guaiacwood essential oil is used in perfume manufacturing for its excellent fixative properties and a deep fragrance profile. Guaiacwood essential oil has also been reported to have multiple health benefits and is used in aromatherapy as well.
Steadily expanding global fragrance market increasing the demand for Guaiacwood essential oil
Guaiacwood essential oil is used extensively in high-quality perfumes as a base note or a heart note for its extremely soothing and woody aroma profile. The global fragrance industry is steadily increasing owing to an increased per capita income worldwide, especially in developed countries, where consumers are enabling themselves to spend more on luxury products such as perfumes and personal care products. Due to its economic nature with a strong panache to its aroma, Guaiacwood essential oil is used by high-end perfumers as well as local perfume manufacturers. This increase in global perfume market is leading to an increase in Guaiacwood essential oil demand globally. Guaiacwood essential oil is also used in cosmetics and personal care products for skin tightening properties along with the benefit or its aroma profile.
A strong inclination toward alternate therapies is anticipated to increase the demand for Guaiacwood essential oil
Apart from its aromatic profile, Guaiacwood essential oil is also known for its therapeutic properties. The Guaiacwood essential oil is used in aromatherapy extensively to relieve anxiety and tension. Guaiacwood essential oil scent is also known to be an aphrodisiac fragrance. Owing to increasing awareness about the negative effects of allopathic medicine, a large proportion of consumers are inclining towards alternative therapies such as aromatherapy and phytotherapy. This has surged the Guaiacwood essential oil demand in the market.
Guaiacwood essential oil is also known to be an anti-inflammatory agent and anti-fluid retention agent. Guaiacwood essential oil is used for its therapeutic properties to alleviate muscle and joint inflammation caused by rheumatism. Guaiacwood essential oil’s anti-fluid retention properties are used in the treatment of health conditions such as gout where fluid retention is a major issue.
Guaiacwood essential oil market: Segmentation
On the basis of type, the global guaiacwood essential oil market has been segmented as:
On the basis of application, the global guaiacwood essential oil market has been segmented as:
- Incense, candles
- Personal care products
Guaiacwood Essential Oil Market: Key Market Players
Some of the key market players in Guaiacwood essential oil market are Health and beauty natural oils, Vigon International, HYSSES, Plantlife, Inc., Ahimsa Oils., The Lebermuth Company, Beach Stone Enterprises, Lotus Garden Botanicals, Hermitage Oils., Divine Essence etc.
Opportunities For Participants In The Guaiacwood Essential Oil Market:
The opportunities for market participants in Guaiacwood essential oil market are plenty owing to the synergetic effect of multiple market drivers. In developed countries, the increasing instances of consumers opting for alternate therapies has created positive reception for the growth of Guaiacwood essential oil demand. In developing regions, the 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. Increased use of natural therapies for the treatment of chronic ailments such as rheumatism and arthritis also sets better prospects for opportunities in the Guaiacwood essential oil market for market participants or entrants
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