Acumen Research and Consulting recently published report titled “Vetiver Oil Market Size, Share, Analysis Report and Region Forecast, 2022 - 2030”
BEIJING, Aug. 11, 2022 (GLOBE NEWSWIRE) -- The Global Vetiver Oil Market Size accounted for a revenue of USD 59 Million in 2021 and is expected to reach the market value of USD 126 Million by 2030 growing at a significant CAGR of 9.2% during the forecast period from 2022 to 2030.
The growing media influence and expanding urbanization are the primary drivers driving the vetiver oil market's growth. Furthermore, the rising use of vetiver oil in the healthcare and personal care sectors will boost the market growth. Additionally, the increased expenditure on premium fragrances and the spike in demand from the fragrance industry would boost the vetiver oil market ahead.
Vetiver oil is extracted from the vetiver herb. They are commonly utilized in the production of fragrances, soaps, cosmetics, and other items. They usually have a unique, earthy scent. They offer a wide variety of medical properties, such as anti-detoxifying, inflammatory, and anti-septic properties. These fragrances can also be very effective in aromatherapy. They are commonly used in personal care and cosmetics, cleaning and homecare, fragrances, and other applications. They are also useful in treating children and teenagers with attention deficit hyperactivity disorder.
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Report Coverage:
| Market | Vetiver Oil Market | |
| Vetiver Oil Market Size 2021 | USD 59 Million | |
| Vetiver Oil Market Forecast 2030 | USD 126 Million | |
| Vetiver Oil Market CAGR During 2022 - 2030 | 9.2% |
|
| Vetiver Oil Market Analysis Period | 2018 - 2030 | |
| Vetiver Oil Market Base Year | 2021 | |
| Vetiver Oil Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Product, By Application, And By Region |
|
| Vetiver Oil Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Aromatic Herbals Private Limited, Citrus and Allied Essences Ltd., UniKode S.A., Bontoux S.A.S, Greenleaf Extractions Private Limited, Rajkeerth Aromatics and Biotech Pvt Ltd., Young Living Essential Oils LLC, Imperial Extracts, Synthite Industries Ltd, Mountain Rose Herbs Inc., Albert Vieille, and Plant Therapy Essential Oils. | |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Vetiver Oil Market Growth Aspects
The demand for vetiver oil as an essential massage oil for aromatherapy is being driven by changes in the urban environment and pervasive media effects. Due to the extreme weather conditions and an increase in humidity, consumer demand for flavored refreshments is increasing. This significantly increases the need for vetiver oil, moving the global market forward. Furthermore, the growing popularity of personal cleanliness and exotic smells among a broad customer base, as well as an increase in spending on luxury perfumes, and fuel demand for the oil. However, vetiver oil is expensive and has a large number of competitors as an essential oil, so market growth is projected to be slow.
Aside from that, it is often utilized in aromatherapy due to its potent antioxidant qualities. Because of these characteristics, it is also useful as a preservative in pharmaceutical and food products. Furthermore, the antibacterial qualities of vetiver oil make it ideal for disinfectants and home healthcare products. Among numerous other health benefits, the all-natural essential oil is thought to improve sleep and respiratory troubles, protect against ticks and reduce ADHD symptoms.
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Increased Demand for Vetiver Oil in a Variety of Industries
Vegetable oil is utilized in many industries, including perfumes, cosmetics, air fresheners, pharmaceuticals, and food and beverages, where it is used as a flavoring agent as well as to preserve food and medications. The pharmaceutical industry utilizes vetiver oil to make mixtures for treating skin ailments, strengthening the central nervous system, minimizing stretch marks, and treating melancholy, anxiety, stress, insomnia, nervousness, and tension.
Impact of COVID-19 on Vetiver Oil Market
The COVID-19 outbreak has had a significant impact on the vetiver oil industry's trends. To begin with, because vetiver oil is often used in spas and wellness centers, the abrupt closure of existing infrastructure has resulted in a significant fall in demand. However, in the aftermath of COVID-19, safety, health, and sanitation have emerged as important consumer concerns. As a result, the need for antimicrobial cleansing and home healthcare solutions has increased. The vast majority of people have started utilizing aromatherapy to boost their wellness and immunity. Furthermore, throughout the epidemic time, pharmaceutical items were in high demand, improving the vetiver oil market prospects significantly.
Vetiver Oil Market Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global vetiver oil market. The Asia-Pacific region is expected to lead the vetiver oil market during the forecast period. As a result of significant expansion in end-use industries such as perfumes, skincare, and medications, demand for vetiver oil has risen in nations such as India, China, and Japan. Vetiver oil is frequently used in aromatherapy to relieve stress due to properties such as lowering neurotic behavior and dissolving rage, impatience, and hysteria. In the region, vetiver oil is frequently utilized as a flavoring factor in ice creams, khus syrups, yogurts, and smoothies; hence the demand for vetiver oil is likely to rise over the forecast period. Furthermore, the rising demand for vetiver oil in the healthcare industry for curing skin problems, strengthening the nervous system, removing stretch marks, and curing ailments such as stress, insomnia, and tension is expected to drive the regional vetiver oil market.
Vetiver Oil Market Segmentation
The global vetiver oil market has been segmented by Acumen Research and Consulting based on product, and application. Based on the product, the market is divided into organic, and conventional. Based on the application, the market is categorized into medical, spa & relaxation, food & beverage, and cleaning & home.
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Vetiver Oil Market Players
Some key players covered globally in the vetiver oil industry are Aromatic Herbals Private Limited, Citrus and Allied Essences Ltd., UniKode S.A., Bontoux S.A.S, Greenleaf Extractions Private Limited, Rajkeerth Aromatics and Biotech Pvt Ltd., Young Living Essential Oils LLC, Imperial Extracts, Synthite Industries Ltd, Mountain Rose Herbs Inc., Albert Vieille, and Plant Therapy Essential Oils.
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