Product ID: SQMIG30A2006
Report ID: SQMIG30A2006 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 116 | Figures: 61
Global Cedarwood Market size was valued at USD 309.95 million in 2021 and is poised to grow from USD 330.41 million in 2022 to USD 587.3 million by 2030, growing at a CAGR of 6.6% in the forecast period (2023-2030).
Used in aromatherapy applications, Cedarwood Essential Oil is known for its sweet and woody fragrance, which has been characterized as warm, comforting, and sedative, thus naturally promoting stress relief. Cedarwood Oil’s energizing scent helps to deodorize and freshen indoor environments, while also helping to repel insects. At the same time, its anti-fungal properties help prevent the development of mildew. Its invigorating quality is known to improve cerebral activity, while its calming property is known to relax the body, and the combination of these properties helps to enhance concentration while decreasing hyperactivity. The soothing scent of Cedarwood is reputed to reduce harmful stress and ease tension, which in turn promotes the body’s rest, helps to clear the mind, and subsequently encourages the onset of quality sleep that is both restorative and reparative.
When used topically to the skin, cedarwood can ease skin dryness that causes cracking, peeling, or blistering as well as irritation, inflammation, redness, and itching. Cedarwood is thought to protect the skin from environmental toxins and pollutants by controlling sebum production, eradicating acne-causing bacteria, and demonstrating a protective astringent characteristic. This may help prevent or lessen the likelihood of further breakouts. Its antiseptic and antibacterial qualities make it an efficient deodorizer that also helps to eliminate undesirable odors. Additionally, due to its firming effects, it helps to hide age symptoms like loose and wrinkled skin.
When applied to hair, cedarwood is renowned for purifying the scalp by eradicating surplus oil, debris, and dandruff. It improves blood flow to the scalp and tightens the follicles, which encourages healthy development and, by reducing hair loss, helps minimize thinning.
The antiseptic properties of cedarwood are said to defend the body against dangerous germs that are known to cause fungal infections, which can be damaging to the skin and general health when used medicinally. Because of its innate ability to heal wounds, cedarwood oil is perfect for use on cuts, scrapes, and other abrasions that need to be cleaned and disinfected. Its anti-inflammatory qualities make it a good choice for treating the discomforts of muscle soreness, joint pain, and stiffness, and its antispasmodic qualities aid to relieve coughs as well as spasms brought on by digestion, respiratory conditions, nerves, and menstrual cramps. The health and function of the organs, particularly the brain, liver, and kidneys, are known to be supported by cedarwood, which is used as a tonic for overall well being
US Cedarwood Market is poised to grow at a sustainable CAGR for the next forecast year.
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Cedarwood Market is segmented based on nature, extract type, application, distribution channel and region. Based on nature, the Cedarwood Market is segmented into organic and conventional. Based on extract type, the Cedarwood Market is segmented into oil, powder, and others. Based on application, the Cedarwood Market is segmented into medical and pharmaceutical, cosmetics & personal care, and others. Based on distribution channel, the Cedarwood Market is segmented into online and offline. Based on the region Cedarwood Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Cedarwood Market Analysis by Application
Based on application, the market is segmented into medical and pharmaceutical, cosmetics & personal care, and others. Among these, the medical and pharmaceutical segment of the market is projected to hold a significant share in the market. The many therapeutic properties of cedarwood oil, including its antibacterial, anti-inflammatory, diuretic, anti-fungal, and antispasmodic properties, are anticipated to increase its use in the creation of numerous medicines in the near future. People can utilize cedarwood oil as the ideal natural item to receive a variety of advantages. These include increased focus, greater hair growth, the treatment of oily skin and acne, and the elimination of stress and anxiety. Additionally, it aids in the treatment of sleep disorders. In addition to its health advantages, this oil may be used to create potent insect repellents, fight microorganisms, create cosmetics, beauty soaps, and perfumes. It is also helpful in aromatherapy, which is employed to encourage mental tranquilly, which is calming to the soul. All of these advantages gained from using cedarwood are helping to increase demand in the market.
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In 2021, North America is expected to have the biggest market share. The main drivers of the market expansion for cedarwood oil in the region include rising consumer knowledge of the product's availability, rising spending on health and wellbeing, and rising rates of various skin and mental problems. The Texas cedar, Juniperus ashei or mexicana, Eastern red cedar or Virginia cedar, and Thuja plicata are the sources of cedarwood oil in this region (Western red cedar). There are several uses for Virginia cedarwood oil, including preparing shampoos for people and animals, repelling insects, and more. The demand for cedarwood oil is boosted by each of these advantages. Hence, this is likely to contributed to the regional growth of the market.
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Cedarwood Market Driver
Cedarwood Market Restraint
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The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Cedarwood Market Top Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global cedarwood market is segmented based on nature, extract type, application, distribution channel and region. Based on nature, the organic segment of the market is projected to hold the substantial share in the market. Based on extract type, the oil segment of the market is projected to hold the substantial share in the market. Based on application, the cosmetic and personal care segment of the market is projected to hold the substantial share in the market. Based on the distribution channel, the online segment of the market is projected to hold the substantial share in the market. Whereas, based on the region, the North American region of the market is projected to hold the substantial share in the market.
|Market size value in 2021||USD 309.95 million|
|Market size value in 2030||USD 330.41 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
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For the Global Cedarwood Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cedarwood Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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