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Agarbatti industry's export nears Rs 1,000 crore in FY18.

Date: 07-06-2018
Subject: Agarbatti industry's export nears Rs 1,000 crore in FY18
The Indian Agarbatti industry has been growing manyfold since the past few years and it has touched a revenue of Rs 965 Crore in FYI 18 in exports, up from Rs 798 Crore in FY 15. Gulf, Europe and Africa are the top three leading markets for Indian Agarbattis. The driving force for this growth has been an increased inclination in these regions towards meditation, which has made usage of agarbatti an important aspect of their daily lives. 

In the 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, the African market too demands for stronger fragrances like lemongrass and citronella grass. In India, Sandalwood, Rose, Mogra, Champa and Jasmine continue to be the dominant consumer choice. 

Sarath Babu, President AIAMA said, "Indian Agarbatti industry is one of the most vibrant cottage industries that employees up to 20 lakh people in the country. In the past four years, Agarbatti export industry has grown at a CAGR of 15% and is expected to grow exponentially and reach Rs 12,000 crore in the next five years. The domestic market at present is pegged at Rs 7,000 Crore with Tamil Nadu, Maharashtra, Karnataka, UP and West Bengal driving the major demand of Agarbatti and its allied product in India.

Source: economictimes.indiatimes.com

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