India is world’s number one manufacturer and exporter
Incense sticks and cones is the next big thing in the luxury world. Brands such as Gucci, UK are selling a set of 25 incense sticks for INR 5500. In India, a set of 40 incense sticks & incense cones (agarbatti & dhoop in Hindi) retail for about INR 20.
European markets have upmarket brands such as L’Object, Fornasetti, Buly and Haeckels. Brands have tied up with master perfumers to create products. About 1300 years ago incense sticks came to Japan from Egypt.
As per Franchise India, India is world’s biggest exporter of incense products. India exports to more than 90 countries. The market in India is about INR 1000cr. It employs more than 20 lakh people. Top most Indian brands are Hari Darshan, ITC’s Mangaldeep and Cycle.
To manufacture incense products one requires about INR 1 lakh for the machine, INR 3 lakh to 4 lakh for raw material, and a manufacturing facility. Incense sticks are manufactured in six steps. The key raw materials are bamboo sticks, charcoal powder, Kuppam dust, and perfumes. The profit margin is INR 10 for each kilogram. The incense industry is projected to grow at 15% CAGR.