Project Report For Agarbatti
Project report for Agarbatti is as follows.
The Indian agarbatti and dhoop market is important for the growth of India’s rural economy since it provides many job possibilities for rural women. Because there are almost no entry obstacles, the industry is dominated by unorganised businesses. In 2011-12, the India Agarbatti and Dhoop market was worth more than INR 3000 crores.
Since the previous five years, the market has grown rapidly and is expected to achieve a volume of more than 34000 sticks of agarbatti and dhoop in 2022-23. The states included in The North and South regions of India account for around two-thirds of agarbatti and dhoop sales in India.
Tamil Nadu, Maharashtra, Karnataka, Uttar Pradesh, and West Bengal are the states that consume the most agarbatti. The agarbatti and dhoop business is a gold mine that will always thrive in both domestic and international markets.
Though demand varies by location and occasion, it never falls below a certain level due to the large number of religious people who never skip their prayers and poojas.
Market potential & Strategy
Agarbatti and dhoop are scented smoke-emitting items made from natural ingredients that may be burnt to produce fragrant and aromatic smoke. An agarbatti is a thin reed stick containing a powdered mixture of wood sawdust, aroma oils, and water. A dhoop, or dhoopbatti, on the other hand, is made from extracts of Commiphora wightii trees combined with different herbs, ghee, and other fragrant goods and is usually available in the shape of cones and thick sticks.
The growing consumer desire for incense-based goods for religious, spiritual, activities in the area, and medicinal purposes is driving the industry. Another key growth-inducing element is the widespread presence of temples around the country that host numerous religious festivals and ceremonies. These temples and other religious institutions use agarbatti and dhoop in their daily spiritual and religious rituals, which contributes to the rising demand for these items.
Moreover, producers are releasing novel fruity and flowery scents such as cinnamon, lemongrass, strawberry, and green apple, which is boosting the market growth. Other factors such as cheap operational costs, simple availability of raw materials, and the development of low-smoke product variations are expected to propel the market even further centuries, the method of burning agarbatti has been practised throughout India. Incense sticks have been used by Indians since ancient times to commemorate anything from religious rites to family gatherings. It was also the focal point that drew foreign armies. Agarbatti and dhoop are now utilised as air fresheners in homes and other public areas. Because of the development in the quality and increased availability of various items, the never-ending demand for agarbatti and dhoop is rising in both local and global markets. This study gives comprehensive information on each sector of the Indian agarbatti market. her. & dhoop market, as well as the top listed businesses,
Because India has a diverse religious population, agarbatti and dhoop items are frequently utilised to follow each of their ceremonies. These items have a significant position in the Indian market and are in high demand. The market has been primarily generated from the widespread use of agarbatti products. In recent years, the agarbatti segment of the market has grown at a CAGR of more than 10%.
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