Global VetiverOil Market is expected to reach 169.5 USD million by 2022. Vetiver Oil is also termed as khus oil is obtained through the steam distillation of the plant’s roots. The oil has a strong initial aroma, which may be spicy, woody, herbaceous, smoky, and earthy. It is mainly used to create body perfumes, oils, room coolers and fresheners, and soap. The oil has soothing and calming properties as it reduces neurotic behavior, dispels anger, and irritability and hysteria. The vetiver oil market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.
High
demand in fragrance industry and in aromatherapy and rising disposable income
are documented as major factors of vetiver oil market that are estimated to
enhance the growth in the years to come. Vetiver oil industry is segmented
based on form type, application, distribution, and region. Blends, absolute,
concentrates are the form types that could be explored in Vetiver Oil in the
forecast period.
The
market may be categorized based on applications like perfumery, pharmaceutical,
therapeutics, toiletries, cosmetics, aromatherapy, air fresheners, food &
beverages, and others that may be explored in the forecast period.
Pharmaceutical sector accounted for the substantial market share of Vetiver Oil
and is estimated to lead the overall market in the coming years.In addition,
perfume sector is estimated to grow at fastest pace in the coming years. Online
stores, modern trade, specialty stores, and franchise outlets are the distribution
channels that could be explored in the forecast period.
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Globally,
Europe accounted for the largest market share of Vetiver Oil and is estimated
to lead the overall market in the coming years. The reason behind the overall
market growth could be presence of key manufacturers like perfume and
pharmaceutical industry in this region, changing lifestyle, and rising
disposable income.
Instead,
North America and the Asia Pacific are also estimated to have a positive
influence on the future growth. North America is the second largest region with
significant market share. However, Asia Pacific is estimated to grow at fastest
pace with the highest CAGR in the foremost period. The developing countries
like India and China are the major consumers of Vetiver Oil in this region.
The
key players of Vetiver Oil Market are Rajkeerth Aromatics, Unikode S.A., Vee
Kay International, Frager S.A., Fleurchem, Inc., Floracopeia, Manohar Botanical
Extracts Pvt. Ltd., and KautilyaPhytoextracts Pvt. Ltd. These players are concentrating
on inorganic growth to sustain themselves amongst fierce competition. As
companies all over the world have to believe that alliance with a market would
permit them proportional market existence and authority to declare the
leadership position.
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Vetiver Oil Market Application
Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
• Fragrance
• Pharmaceutical
• Food & Beverage
Vetiver
Oil Market Regional Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
• North America
• U.S.
• Europe
• France
• UK
• Asia Pacific
• India
• China
• Rest of the World (RoW)
• Brazil
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