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Agarwood-Chips Market Size Forecast: How Large Could The Market Become By 2030?
The agarwood-chips market size has experienced robust growth in recent years. It is anticipated to increase from $40.06 billion in 2025 to $43.29 billion in 2026, progressing at a compound annual growth rate (CAGR) of 8.1%. This historical expansion can be attributed to factors such as the increasing cultural and religious utilization of incense products, a growing global appetite for oud fragrances, the broadening of agarwood cultivation activities throughout Asia, an uplift in the trade of natural aromatic wood products, and a rising preference for traditional wellness and meditation items.
The agarwood-chips market is set for substantial expansion over the coming years. It is projected to reach $59.53 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 8.3%. This projected growth is driven by factors such as an escalating demand for sustainable luxury fragrance ingredients, increased adoption of organic incense products, the broadening scope of premium perfume manufacturing applications, rising investments in cultivated agarwood plantations, and a growing consumer interest in exotic aromatic experiences. Significant trends for the forecast period include a heightened demand for premium resin-rich agarwood chips in luxury incense, the expanding use of agarwood chips in traditional religious and spiritual ceremonies, a noticeable shift in consumer preference towards natural and organic fragrance ingredients, the spread of cultivated agarwood plantation practices for sustainable supply, and the increasing popularity of oud-based perfumes in global luxury fragrance markets.
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Agarwood-Chips Market Development Factors: Which Trends Are Supporting Demand?
The market for agarwood chips is projected to advance with the increasing use of cosmetic and personal care products. This refers to the growing inclusion of natural and high-quality components in skincare, haircare, and various beauty items to improve their value and effectiveness. The surge in these applications is driven by consumers increasingly favoring organic, natural, and luxury beauty items, alongside a greater understanding of the advantages offered by plant-derived ingredients. Agarwood chips are processed to yield oud oil, a highly prized ingredient widely incorporated into exclusive perfumes, skincare recipes, and personal care goods, valued for its distinct aroma and beneficial attributes. For instance, data from June 2025, provided by the Cosmetic, Toiletry and Perfumery Association, a UK trade body, indicated that in 2024, the toiletries and beauty industry recorded sales of approximately $13.0 billion (£10.3 billion), demonstrating a strong year-on-year increase of 8.4%. Consequently, the expansion of cosmetics and personal care applications is a key factor propelling the growth of the agarwood chips market.
Agarwood-Chips Market Segment Landscape: Which Areas Lead Market Development?
The agarwood-chips market covered in this report is segmented –
1) By Type: Super-Prime Or Ultra-Premium Chips, Prime Or High-Grade Chips, Standard-Grade Chips
2) By Nature: Organic, Conventional
3) By Distribution: Direct Channel, Indirect Channel
4) By Application: Oil Production, Incense And Fragrance, Other Applications
Subsegments:
1) By Super-Prime Or Ultra Premium Chips: Wild Natural Resin Rich Chips, Hand Selected Aged Agarwood Chips, High Density Dark Resin Chips
2) By Prime Or High Grade Chips: Cultivated Resin Infused Chips, Semi Natural Agarwood Chips, Medium Resin Content Chips
3) By Standard Grade Chips: Low Resin Content Chips, Artificially Induced Agarwood Chips, Commercial Grade Agarwood Chips
Agarwood-Chips Market Industry Leaders And Market Competition
Major companies operating in the agarwood-chips market are Ajmal Perfumes, Arabian Oud, Al Haramain Perfumes, Rasasi Perfumes Industry LLC, Abdul Samad Al Qurashi, Oudh Al Anfar, Asia Plantation Capital Pte. Ltd., Fragrance Du Bois, Treedom Group, Lifa Fragrance Co. Ltd., Sadaharitha Plantations Limited, Hoang Giang Agarwood Company Limited, Nhang Thien Joint Stock Company, Agarvina Co. Ltd., Binh Nghia Agarwood Co. Ltd., Oud Du Bois, Golden Sheaf Industries Private Limited, Lao Agar International Development Co. Ltd., Thien Phu Agarwood Co. Ltd., Thai Borai Agarwood Co. Ltd., Po Luo Senko Agarwood Company Limited, Ensar Oud, Sai Export India Private Limited, Assam Aromas Private Limited, Nagaland Agarwood Private Limited, Duy Hai Agarwood Co. Ltd., Green Agro Agarwood Products Co. Ltd., Grandawood Agarwood Australia Pty Ltd., Myanma Treasure Co-operative Limited
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Agarwood-Chips Market Leading Geography: Which Region Generates The Most Revenue?
North America was the largest region in the agarwood-chips market in 2025. Asia-Pacific is expected to be the fastest-growing region during the forecast period.The regions covered in the agarwood-chips market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.