03/09/2026
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The agarwood-chips market has experienced noteworthy growth recently, driven by several factors linked to cultural and commercial demand. As consumer preferences evolve and cultivation techniques improve, this market is set to expand further in the coming years. Below, we explore the market's size, growth drivers, key players, and important segments shaping its development.
The agarwood-chips market size has shown strong momentum, with expectations to increase from $40.06 billion in 2025 to $43.29 billion in 2026, reflecting a compound annual growth rate (CAGR) of 8.1%. This past expansion can be credited to the rising cultural and religious use of incense products, growing worldwide demand for oud fragrances, expansion of agarwood cultivation across Asia, increased trade of natural aromatic wood, and consumer preference for traditional wellness and meditation items.
Looking ahead, the agarwood-chips market is projected to reach $59.53 billion by 2030, growing at a CAGR of 8.3%. This anticipated rise is fueled by increasing demand for sustainable, luxury fragrance ingredients, wider adoption of organic incense products, growth in premium perfume manufacturing, significant investments in cultivated agarwood plantations, and heightened consumer interest in unique aromatic experiences. Key trends include the growing popularity of premium resin-rich agarwood chips for luxury incense applications, continued use in traditional religious and spiritual ceremonies, and strengthening demand for natural and organic fragrance components. Additionally, sustainable cultivation practices and the global popularity of oud-based perfumes are expected to stimulate market growth further.
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https://www.thebusinessresearchcompany.com/report/agarwood-chips-market-report