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Sandarac Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3707

Global sandarac market share is expected to record substantial growth over 2022-2028, given the rapid shift in consumer preference towards natural ingredients. Sandarac refers to a faintly aromatic, brittle, translucent resin, obtained from a cypress family tree found in northern Africa. Considered as a folk medicine in regions like Morocco, sandarac is used for myriad applications, including as incense, for varnish making as well as for medical purposes like relieving cramps and creating calmness during childbirth.

The growing adoption of used and antique furniture pieces as an essential part of the circular economy is a major factor driving sandarac market trends over 2022-2028. With an increasing number of younger generations like millennials becoming homeowners, the demand for unique, sustainable, and stylish home décor and furniture products has surged considerably. According to a consumer study conducted by Chairish over 61% of the millennial population has expressed a heightened interest in vintage, used, or antique home furnishings due to stylish and unique inventory. This has, in turn, created a surge in interest in sandarac as a key ingredient for making varnish, which is mainly used as a protective coating to create a hard, shiny, and durable layer on painting and antiques. Sandarac is used as a base material for many traditional varnishes, used in fine woodworking applications, as well as for finishing handcrafted musical instruments.

Fragrance is poised to emerge as a prominent application segment for the sandarac market by 2028, on account of its unique aroma, and its subsequent use as a popular aromatherapy solution. Sandarac is known for its sweet, light and balsamic aroma, similar to Frankincense, which is known to calm, relax and uplift users, induce peaceful states and ensure proper sleep, making it a popular choice for aromatherapy fragrances.

From a regional standpoint, the Middle East and Africa is set to emerge as a major revenue pocket for the sandarac market by 2028. This growth is driven mainly by the strong position of countries like Tunisia and Morocco and major producers of sandarac gum and increasing export of the product to industries worldwide. Furthermore, the extensive usage of the product in Morocco, for various purposes, like as a remedy for challenging childbirth, roundworm, cramps, and insomnia, will further drive regional industry growth.

The Good Scents Company, Scents of Earth, Mangalam Organics, and Pangaea Sciences are among the major contenders operating in the global sandarac market. These companies are focusing on various strategies such as production expansions and collaborations to sustain a strong position in the global business landscape.

Impact of COVID-19 on Sandarac Market Trends

With the novel coronavirus pandemic sweeping rapidly across the world, there has been an unprecedented rise in stress levels among the population in general, as well as among certain groups such as healthcare providers, older individuals, and people with underlying ailments. For instance, according to a new Stress in America survey by the APA (American Psychological Association), nearly 84% of adults claimed to experience at least one emotion related to prolonged stress in a two-week period, with anxiety being the most common at 47%. In this scenario, aromatherapy is emerging as a sought-after solution to alleviate feelings of anxiety, stress, and exhaustion on-the-job, especially among nurses during the COVID-19 pandemic, which could boost demand for sandarac as an incense product, given its calming and stress-relieving properties.

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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