Indian Agarbathi Industry Touched INR 965 Crore Revenues from Exports
In the past four years, agarbathi export industry has grown at a CAGR of 15% and is expected to grow exponentially and reach INR 12,000 crore in the next five years. The domestic market at present is pegged at INR 7000 Crore with Tamil Nadu, Maharashtra, Karnataka, UP and West Bengal driving the major demand of Agarbathi and its allied products in India.
Indian Agarbathi industry has been growing many folds since the past few years and it has touched revenues of INR 965 Crore in FYI 18 in exports, up from INR 798 Crore in FY 15. Gulf, Europe, and Africa are the top three leading markets for Indian Agarbathies. The driving force for this growth has been an increased inclination in these regions towards meditation, which has made usage of agarbathi an important aspect of their daily lives.
Mr. Sarath Babu, President AIAMA, said, ‘Indian Agarbathi industry is one of the most vibrant cottage industries that employees up to 20 Lakhs people in the country. In the past four years, agarbathi export industry has grown at a CAGR of 15% and is expected to grow exponentially and reach INR 12,000 crore in the next five years. The domestic market at present is pegged at INR 7000 Crore with Tamil Nadu, Maharashtra, Karnataka, UP and West Bengal driving the major demand of Agarbathi and its allied products in India.’
In Gulf region, there is an increased demand for strong fragrances like Oudh and Orientals, while in Europe preference is more towards fruity and mild fragrances like cinnamon, green apple, and strawberry. On the other hand, Africa market too demands stronger fragrances like lemongrass and citronella grass. In India, Sandalwood, Rose, Mogra, Champa, and Jasmine continue to be the dominant consumer choice.
Established in the year 1949 as MOMA (Mysore Oodabathi Manufacturers’ Association) by seven founding members, AIAMA has been working tirelessly towards encouraging the growth of Agarbathi industry and allied products in India. In 1982, with increased interest and participation of manufacturers from other Indian states, MOMA was renamed to ‘All India Agarbathi Manufacturers Association’ (AIAMA). With head office in Bengaluru, at present more than 700 Agarbathi manufacturers across India are life members with AIAMA. The association has been aggressively working with the industry peers, policymakers and government bodies to address various issues of the Agarbathi and allied industries. Association’s efforts are not only restricted to the support and growth of Agarbathi industry in the domestic market but also to drive for demand growth in the international markets.