Agarbathi industry to achieve last year’s export revenue in 10 months this year with modest 5% growth: Forecasts AIAMA
New Delhi: The Indian Agarbathi industry has been witnessing a steady increase in demand in the domestic market for the past couple of years, it is also seeing positive momentum in the export market states the All India Agarbathi Manufacturers’ Association (AIAMA). According to AIAMA, the industry has crossed an exported revenue of INR 34,652 lakhs during the period April to September, 2020 and it is expected to achieve last year’s revenue in just 10 months this year. United States of America, United Kingdom, Malaysia and Nigeria are the top markets driving the demand for Agarbathi and related products.
Commenting on exports market, Mr. Arjun Ranga, President, AIAMA, said, “Indian Agarbathi is exported to over 150 countries and has no competition in the global marketplace. The unique fragrances, exceptional quality and packaging have helped Indian Agarbathi carve a niche for itself. With CAGR of around 3.6%, Indian Agarbathi is the fragrant ambassador of our Nation. With the advent of Yoga and Ayurveda there is an increasing preference of Indian Agarbathi for meditation and Well-being, thus spurring demand in Exports. Consumers are experimenting with fragrances like Coffee, Chocolate, Green Tea, a flurry of fruity fragrances are increasingly gaining traction as well alongside the traditional favourites like Sandalwood and the Indian Jasmine.”
The focus on products that create an ambience ideal for well-being and tranquillity are driving demand. While oriental and blended fragrances are the preferred choices in Middle East, South America is more inclined towards fun fragrances like Vanilla and Orange. In Europe, the demand is for floral fragrances like Lavender and Jasmine. The different traditional forms of Agarbathi like Sambrani, Cones and Dry Dhoop are also gaining traction in the export market, especially in the United States and South East Asia.