An agarbatti is an incense stick manufactured from natural substances, is burnt to release fragrance and aromatic smoke. In a culture-based country such as India, religious festivals are a significant part. The practice of burning incense sticks in religious festivals and social functions has been practiced since early times. One of the most necessary referred to as the base matter for incense stick is the bamboo stick which account for one-third of its heaviness. The other raw materials include charcoal powder, sawdust powder, Jiggat powder, and other fragrance oils.
Related Projects- Agarbatti (Incense Sticks) Manufacturing
MARKET OVERVIEW
Though India is the second-largest bamboo producer globally, a large part of the agarbatti industry runs on imports. 70% of the bamboo need of the agarbatti industry are fulfilled by the incense sticks imported from China and Vietnam. Based on the contrast, the imported bamboo sticks are better relating to the consistency of dimensions and excellence since large-scale mechanization. As compared to manual sticks formed in India, import these sticks are mainly favoured Stick making process in India is forwarding to industrialization.
Business Ideas with Low, Medium & High Investment, Click Here
Looking for Most Demandable Business Ideas for Startups, Click Here
Agarbatti industries two types of bamboo sticks – square and round. Manually, only the square shapes are possible to make. However, due to rising exports, the demand for round sticks has increased. India is now working on the increased production of mechanized round bamboo sticks. Bamboo Mission focuses on the development of the bamboo sector by encouraging bamboo plantations and introducing and promoting mechanization. Primarily, cooperative society members were manually producing incense sticks. Recently due to the involvement and focus of government on this sector, the industry is forwarding into better and mechanized stick production. It is helping this sector to establish a full-fledged business.
Related Book- Perfumes, Flavours, Flavors, Aromatic Chemicals and Essential Oils Formulation and Technology
MARKET GROWTH
Agarbatti sector in India is the largest in the world. Agarbatti sticks production is a well-established cottage business and is five crores value growing market in India. The market has observed a steady growth rate in the last five years and is forecasted to reach market size by a volume of more than 34000 sticks of agarbatti in 2022-2023. The main consuming states of agarbatti in India are Tamil Nadu, Karnataka, Uttar Pradesh, Maharashtra, and West Bengal. The spread of coronavirus and nationwide lockdown affected the market growth hugely. The production rate improved recommends that by the end of 2021, the incense market is likely to reach Rs. 7,500-8,000 crore, from the present Rs 7000. The Indian incense sticks market is currently witnessing substantial growth, which is expected to multiply in the coming years. This section of the market has shown an increase of above 10% CAGR in the last couple of years.
Related Videos- Incense Sticks Production. Agarbatti Manufacturing Business Plan
MARKET TRENDS
The market is mostly driven by the increasing customer favourite for incense-based products for a variety of spiritual and therapeutic purposes. The presence of temples all around the country is an essential factor that promotes growth and contributes to the increasing demand for these products. The introduction of innovative fruity and floral fragrances boosts the market growth. In addition, low operational cost, simple accessibility of raw materials, and development of low smoke alternative are accepted to drive the market further.
Start a Business in Africa, Click Here
Start a Business in India, Click Here
Start a Business in Middle East, Click Here
Start a Business in Asia, Click Here
Conclusion:
This project report by Niir Project Consultancy Services (NPCS) focuses on the Agarbatti bamboo sticks industry. It highlights the following points:
- The market overview.
- The overall growth in the market.
- The trends influencing the market.
This industrial report has been made after studying and research in-depth. It is verified by experts and professionals and is completely reliable. No matter if you are a supplier, investor, or manufacturer, you can easily trust this report and seek the benefits from studying it.
Start a Business in Potential Countries for Doing Business, Click Here
Best Industry for Doing Business, Click Here
EVA_Art2021
#DetailedProjectReport #BusinessIdeas #StartupBusinessIdea #EntrepreneurIndia #NPCSProjects #Startup #Business #BusinessConsultant #ProjectReport #BusinessOpportunity #BusinessPlan #NPCS #Agarbatti #AgarbattiManufacturing #MakeInIndia #AgarbattiManufacturers #IncenseStick #Scents #Frangance
