Known as the "national incense", agarwood, in recent years, has been favored by many parties because of its outstanding performance in the investment collection market and the mass consumer market, and industry experts generally believe that the domestic agarwood industry will usher in a new round of market growth in the future.
The trading market is growing rapidly.
Judging from the transaction situation of the domestic agarwood market, both the number of transactions and the amount of transactions are maintaining steady growth. Combined with the 2023 agarwood industry data report, the domestic agarwood transaction volume continues to maintain an average annual growth rate of more than 20%.
Some analysts have pointed out that the potential demand of the domestic art auction market is about 7 trillion yuan, but there are only hundreds of billions of moving funds at present. This means that the art investment market will usher in a new round of expansion in the future, and the recovery of art investment is also bound to revitalize the capital of the high-end agarwood market. At present, there are more and more players collecting agarwood, coupled with the insufficient supply of wild agarwood resources, the ** of high-end agarwood will still be bullish in 2024. The traditional high-end agarwood brands represented by incense supreme agarwood in China are also attracting the attention of all parties, and have maintained market growth for seven consecutive quarters.
Guide the positive development of the industry.
With the continuous change of the current economic structure, the domestic agarwood market is becoming more and more concerned, especially the investment market has attracted a large amount of private capital. But I have to admit that behind the hot market, some industry problems have gradually emerged.
The most serious problem is the problem of fake agarwood. Since China is not a major producer of agarwood, the vast majority of wild agarwood resources need to rely on imports, according to industry insiders, this part accounts for more than 80%. The problem of insufficient market resources has also given a lot of unscrupulous businesses an opportunity to take advantage of, and many of them are fake and true, shoddy, and artificial planting materials are passed off as wild Shen spices.
Industry insiders call for the domestic agarwood market to be in a critical period of development, and it is necessary for multiple parties to jointly initiate the formulation of long-term industry planning, establish and improve the relevant regulatory mechanism at the national level, and the brand side abides by professional norms to deliver high-quality agarwood resources to the market.
Comprehensive analysis of the current domestic agarwood market, the overall development trend of stability and upward development, the industry brand scale has gradually formed, and the overall business situation is also satisfactory. With the advent of the traffic era, many new agarwood brands have entered the market, injecting new vitality into the industry and giving the majority of fragrance friends a wider choice. The time-honored brands in the industry represented by Xiang Supreme Agarwood are more rooted in the market and have been supported and trusted by more and more consumers.