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Vetiver Oil Market Size
Vetiver Oil Market size is poised to witness substantial growth from 2024 to 2032 driven by increasing application potential in the field of aromatherapy to impart antioxidant properties. The growing incorporation of preservatives in food and pharmaceutical products will elevate the preference for vetiver oil.
Moreover, the antimicrobial characteristics of vetiver oil makes it suitable in cleaning and homecare products. The emerging trend of personal grooming as well as exotic fragrances among the vast consumer base has led to the surging expenditure capacities on luxury fragrances. Robust ability to alleviate breathing problems during sleep, protect from ticks, and reduce the symptoms of ADHD are other factors influencing the product demand.
Vetiver Oil Market Trends
Rapid innovations in extraction methods and cultivation techniques have improved the quality and yield of vetiver oil. Moreover, the rising awareness of the therapeutic benefits, including stress-relieving and skincare properties, has expanded the application of vetiver oil in wellness products, contributing to the industry expansion. Furthermore, with the trend of clean label and natural ingredients continuing to grow, vetiver oil is expected to help in meeting consumer preferences.
On the other side, the ongoing Russia-Ukraine war and its ramifications will negatively sway the intake of vetiver oil on account of the disrupted supply chain and manufacturing operations, making way for hampered import and exports.
Vetiver Oil Market Analysis
Based on application, the vetiver oil industry from the aromatherapy segment is slated to generate notable revenues by 2032, driven by extensive research activities over the years. As consumers seek natural remedies for stress relief, relaxation, and mood enhancement, vetiver oil has emerged as a popular choice among aromatherapists and wellness enthusiasts. With its earthy and grounding aroma that promotes calmness and emotional balance, this oil is ideal for use in diffusers, massage oils, and bath products. Moreover, the growing interest in mindfulness and self-care has also propelled the demand for aromatherapy products.
Regionally, the Europe vetiver oil industry will experience commendable growth from 2024 to 2032 due to increasing utilization in cosmetics, pharmaceuticals, and fragrances. As per the United Nations (UN) COMTRADE database on international trade, the imports of essential oils, perfumes, cosmetics, and toiletries in the U.K reached USD 6.8 billion during 2022. The rising adoption of aromatherapy among consumers will further amplify the demand for vetiver oil with growing consumption for its pleasant scent and antioxidant properties.
Vetiver Oil Market Share
Prominent vetiver oil market key players are:
- Aromatic Herbals Pvt Ltd.
- Manohar Botanical Extracts Pvt. Ltd
- Frager S.A.
- Fleurchem, Inc.
- Unikode S.A.
- Floracopeia
- Kautilya Phytoextracts Pvt. Ltd.
- Rajkeerth Aromatics
- Vee Kay International.
As a response to the surging demand and popularity of vetiver oil, these companies are ramping up their manufacturing capacities and setting up new production facilities to meet the growing end-user and consumer requirements. They are also relying on strategies partnerships, mergers, and acquisitions to consolidate their market position.
Vetiver Oil Industry News
- In September 2022, Robertette introduced a fresh online sales platform for catering to essential oils. The platform provided an extensive selection of essential oils, vegetable oils, and floral waters, with plans to include absolute CO2 extracts and additional offerings.