Industry Background:
Incense is aromatic biotic subsatnce which releases fragrant smoke after burning. Around the globe, incense is used for aesthetic reasons, & in therapy, meditation, as well as various ceremonies. Used as a simple deodorant or insectifuge, it is widely adoted in Countries such as India, China, as well as Thailand. Incense sticks are also called as joss sticks, or Aggarbatti. Many Indian Incense Sticks manufacturers have exporting incense to The United States, United Kingdom, United Arab Emirate, Belgium, Brazil as well as Argentina among several other countries. Key manufacturers are offering variety of Incense sticks in the market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | N. Ranga Rao & Sons Pvt. Ltd. (India), Mysore Deep Perfumery House (India), Mangaldeep Agarbattis (ITC Limited) (India), Moksh Agarbatti Company (India), B.V.Aswathiah & Bros. (India), UPH Incense Co. Ltd. (Thailand), Patanjali Ayurved Limited (India), HEM CORPORATION (India), Dongguan Gaoyi Reed Diffuser Craft Co., Ltd. (China) and Shree Kalpana Perfumery Works Pvt. Ltd. (India) |
This growth is primarily driven by Increased New Fragrances & Variants and Growing Adoption in Asian Countries Such As India and Thailand.
Globally, a noticeable market trend is evident Growing Demand for Natural Fragrance Ingredients The Consumer Goods sector in the Asia Pacific region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as N. Ranga Rao & Sons Pvt. Ltd. (India), Mysore Deep Perfumery House (India), Mangaldeep Agarbattis (ITC Limited) (India), Moksh Agarbatti Company (India), B.V.Aswathiah & Bros. (India), UPH Incense Co. Ltd. (Thailand), Patanjali Ayurved Limited (India), HEM CORPORATION (India), Dongguan Gaoyi Reed Diffuser Craft Co., Ltd. (China) and Shree Kalpana Perfumery Works Pvt. Ltd. (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The Global Incense sticks market have large number of brands. For instance in India, Moksh Agarbatti, Zed Black Agarbatti, Patanjali Agarbatti, Mangaldeep Agarbatti, and Cycle Agarbatti are some of the popular brands. So, for further growth of the market share the companies in the market are offering new variants of agarbatti in terms of new fragrance to target numerous geographical regions, festivals, as well as consumer preferences to increase their sales.
In September 2022, Nirmalaya, a natural fragrance brand, raised USD 800k in its seed funding round. The round was led by Artha Venture Fund, with participation from notable investors including The DotIn Network, Shiprocket – Huddle Accelerator, Flawless Company Family office, and other prominent angel investors. The company's unique approach involves utilizing floral waste gathered from over 300 temples in the NCR region to manufacture and distribute a range of chemical-free, low-carbon, and eco-friendly incense and perfumes.
Influencing Trend:
Growing Demand for Natural Fragrance Ingredients
Market Growth Drivers:
Increased New Fragrances & Variants and Growing Adoption in Asian Countries Such As India and Thailand
Restraints:
Increasing costs of the raw materials
Opportunities:
Innovation in Packaging & Design of Incense Sticks and Growing Opportunities in Untapped Markets
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Incense sticks Market
- Analysis about New Entrants in Incense sticks Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Incense sticks Study Sheds Light on
The Incense sticks Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Incense sticks industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Incense sticks industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.