Report Ocean recently released a research report on the Vetiver Oil Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global vetiver oil market size was US$ 0.6 billion in 2021. The global vetiver oil market is forecast to grow to US$ 1.2 billion by 2030, registering a compound annual growth rate (CAGR) of 7.9% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
Growing demand for vetiver oil from end-use industries such as pharmaceuticals are driving the growth of the global vetiver oil market. In addition, the increasing awareness about the benefits of natural oil is driving the growth of the global vetiver oil market.
Changing lifestyles and growing urbanization will surge the growth of the global vetiver oil market. Vetiver oil is used as a massage oil to relax stress and help people overcome anger, irritability, and hysteria issues. Moreover, the growing urban population will ultimately surge the market growth.
Vetiver oil is widely used as a flavoring agent in the food and beverage segment to develop khus syrups, ice creams, yogurts, and preparing milkshakes in the region. Changing climatic conditions and growing humidity will fuel the demand for such beverages, thereby fueling the growth of the global vetiver oil market.
Vetiver oil is used in the medical industry for treating skin and hair-related diseases. Moreover, it also helps in preventing stretch marks and strengthens the central nervous system. Thus, the growing demand for beauty products will ultimately fuel the growth of the global vetiver market during the study period. Moreover, vetiver oil is being used to develop homemade cleaners and sprays due to their antimicrobial properties. Thus, it will boost the growth of the global vetiver oil market during the forecast period from 2022 to 2030.
The high cost of vetiver oil may limit the growth of the global market.
Regional Analysis
The European market for vetiver oil market is forecast to grow at a rapid pace during the study period. The growth of the region is associated with the increasing demand for aromatherapy among customers. In addition, the Asia-Pacific vetiver oil market is forecast to hold dominance during the study period. The growth of the region is attributed to the presence of emerging countries, such as India, China, and Japan. The demand for fragrances, cosmetics, and pharmaceuticals is growing in these regions, thereby fueling the demand for vetiver oil.
The demand for cosmetics is highest in China. In addition, Thailand’s beauty and personal care market is also growing rapidly. Furthermore, the rapidly growing number of salons, spas, parlors, barbershops, and clinics in India are forecast to benefit the global vetiver oil market during the forecast period.
Asia-Pacific is home to some of the prominent vetiver oil market players, such as Aromatic Herbals Private Limited, Green Essence Extraction Private Limited, and UniKode S.A. All of these factors will contribute to the growth of the market.
COVID-19 Impact Analysis
The demand for vetiver oil reduced drastically. Due to lockdown restrictions and employment problems, the demand for spas and cosmetics reduced dramatically. Thus, it hampered the growth of the market for vetiver oil.
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Market Segmentation
The global vetiver oil market segmentation focuses on Type, Application, and Region.
By Type
- Organic
- Conventional
By Application
- Perfumery
- Toiletries
- Air Fresheners
- Cosmetics
- Food and Beverages
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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Competitors in the Market
- UniKode S.A.
- Fleurchem, Inc.
- Aromatic Herbals Private Ltd.
- Frager S.A.
- Manohar Botanical Extracts Pvt. Ltd.
- Imperial Extracts
- Falcon
- Van Aroma
- Other Prominent Players
Table of Content
Chapter 1: Global Vetiver Oil Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Vetiver Oil market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Vetiver Oil Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Vetiver Oil market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Vetiver Oil market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Vetiver Oil market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Vetiver Oil market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Vetiver Oil business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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