Agarwood Essential Oil Market Size worth US$ 249.5 Million by 2031 Forecast
Latest Report, titled "Agarwood Essential Oil Market" Size, Trends, Share, Growth, Opportunity and Forecast 2024-2031, by Kings Research offers a comprehensive analysis of the industry, which comprises insights on the market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
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Agarwood Essential Oil Market was valued at USD 235.9 million in 2023 and is projected to grow from USD 249.5 million in 2024 to USD 388.5 million by 2031, exhibiting a CAGR of 6.53% during the forecast period.
A project by the Department of Wildlife and Biodiversity, Forestry Administration (Cambodia) aimed at restoring native Agarwood species in Southwestern Cambodia's Community Forestry sites was implemented. The estimated duration of the project was from May 2023 to April 2026. This project focused on rehabilitating agarwood ecosystems, raising awareness about restoration efforts, and supporting family-scale and private sector plantations. It aimed to restore 28 hectares of agarwood, thereby contributing to Cambodia's National Forest Program. This initiative aligns with AFoCO’s priorities by enhancing local livelihoods through forestry-related activities and technology transfers.
