The global spikenard essential oil market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). An essential oil is a liquid containing aroma or fragrance compound taken from different parts of plants. They are also called as ethereal oils, volatile oils, or aetherolea. An oil is considered to be essential as it contains the essence of plants. Essential oils are mainly used in cosmetics, soaps, perfumes and other personal care products. Nowdays essential oils are being used in the food and beverage industry in order to increase the aroma of the food product. It is used during the aromatherapy, as it induces relaxation for the body. There is various type of oils available in the market out of which spikenard is the oil that is also availbale in the market. Spikenard essential oil is made from spikenard tree. It is also called nard, nardin, and muskroot. It is a class of aromatic amber-colored essential oil which is derived from Nardostachys jatamansi.
Spikenard essential oil is extracted by a process known as steam distillation of the spikenard resins obtained. Spikenard essential oil is widely used as an herbal medicine in places such as India and Nepal. It supports to cure ailments which are caused by fungal infections such as food poisoning, itching, psoriasis, dermatitis, and other fungal infections. Spikenard essential oil supports eliminating odor as it carries a pleasant smell, which can also be used as a deodorant. Some of the major players in the market include Aos Products Pvt Ltd., and Aromaaz International, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Function
- By End-use
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Aos Products Pvt Ltd., and Aromaaz International, among others.
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Global Spikenard Essential Oil Market Report by Segment
By Function
- Antibacterial
- Antifungal
- Anti-Inflammatory
By End- Use
- Household Care
- Healthcare
- Cosmetics
- Personal Care
By Distribution Channel
- Supermarkets
- Convenience Stores
- Specialty Stores
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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