Global Cedarwood Oil Market is valued at approximately USD 0.32 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.6% over the forecast period 2022-2029. Cedarwood Oil refers to an essential oil which is derived from the leaves, berries, needles, and barks of cedar trees. There are different types of Cedarwood oil categorized based on the type of Cedar including Atlas cedarwood (also known as Cedrus atlantica), Chinese cedarwood (known as Chamaecyparis funebris or Cupressus funebris), Himalyan cedarwood, Port Orford cedarwood, Chamaecyparis lawsoniana, Texas cedarwood, (also known as Juniperus) and Virginian Cedarwood also called red cedar or Eastern red cedar among others. It is widely used as an ingredient in deodorants, shampoos, colognes, and insect-repellent products. Moreover, due to its soothing scent, it is also utilized in aromatherapy applications to reduce stress and ease tension. Cedarwood Oil has anti-inflammatory and antimicrobial properties which makes it ideal for treating different skin conditions including acne, hair care, and facial treatment applications. The increasing expansion of cosmetics & personal care sector and rising utilization in FMCG products due to healthcare properties associated with cedarwood oil as well as recent strategic initiatives from leading market players are accelerating the market growth.

The rapid expansion of cosmetics & personal care market is contributing to the growth of the Global Cedarwood Oil Market. For instance, according to Statista - in 2020, the global skincare market was valued at USD 136.4 billion, and the market is projected to grow to USD 187.68 billion by 2026. Moreover, as per Statista - as of 2022, the revenue in the Personal Care segment is estimated at USD 238.90 billion, and the global revenue is expected to show an annual growth rate of 10.77% in 2022 -2025 period to reach a market volume of USD 324.7 billion by 2025. Also, increasing incidences of depression and anxiety disorder and growing popularity of wellness tourism in countries such as China and India would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Cedarwood Oil and associated side effects of prolonged exposure to Cedarwood Oil such as liver and pulmonary toxicity stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Cedarwood Oil Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the increasing utilization of Virginian Cedarwood Oil and growing preference towards plant-based personal care products in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising popularity of aromatherapy for the treatment of chronic pain and anxiety disorders as well as growing expansion of e-commerce industry in the region.

Major market players included in this report are:

Grayden Cedar Works

Henan Allgreen Chemical Co. Ltd

ORCHID Chemical Supplies Ltd

Finetech Industry Limited

Shanghai Eykits

Foreverest Resources Ltd

SSS biotic.com

Texarome

Venus Enterprise Limited

Wuhan Shenqu Biological Chemical Co. Ltd.

Recent Developments in the Market:

In December 2020, New Wave Holdings Corporation completed the acquisition of Way of Will Inc. Way of Will is a leading provider of Aromatherapy products that use natural aromatic plant extracts and essential oils.
Global Cedarwood Oil Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Application, Industrial Use, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application

Aromatherapy

Cosmetics and skincare products

Toiletries

By Industrial Use

Pharmaceuticals

Spa & Relaxation

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

RoLA

Rest of the World