Vetiver Oil Market Size - Global Industry Share, Analysis, Trends and Forecast 2022 - 2030
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.
This growth of the global vetiver oil market is expanding due to rising demand from end-use sectors such as pharmaceuticals. Furthermore, increased use of vetiver oil as a flavoring agent in the food and beverage sector, such as milkshakes, ice cream, and certain other cool drinks, is likely to support vetiver oil market growth during the projected timeframe.
Vetiver oil is an essential oil derived from the aromatic roots of the vetiver species, botanically named Vetiveriazizanioides. This oil is generally used in ayurvedic medications and aromatherapy, and it is very beneficial for treating a number of disorders such as insomnia, anxiety, tiredness, and depression, as well as effectively boosting concentration and memory. The vetiver plant's roots are unique in their capacity to grow downward, forming a deep knot of roots in the earth. Vetiver oil is extracted from the robust vetiver plant's root and has an intense and pungent perfume. This aroma is a key characteristic of Vetiver oil and is used in numerous perfume industries. Vetiver oil contains a high concentration of sesquiterpenes, which gives it a grounding effect on emotions. Vetiver oil is a popular essential oil in massage, as well as topical and aromatic uses, due to its grounding effect. Internally, vetiver oil can aid in the maintenance of a healthy immune system.
Vetiver Oil Market Drivers
- Increasing adoption of vetiver oil from the cosmetic industry
- Rising demand for vetiver oil from the food and beverages industry
- Growing application of vetiver oil from the medical industry
- Increasing consumption of flavor fragrances in the spa and relaxation
Vetiver Oil Market Restraints
- High dependency of planters on investors for financial resources
- Harvesting crops prematurely and inappropriately
Vetiver Oil Market Opportunities
- The growing influence of aromatherapy as an optimum alternative to traditional allopathic solutions
Vetiver Oil Market 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 Dynamics
The modern lifestyle of the urban population, as well as the growing media effect, fuel the need for vetiver oil as an essential massage oil for aromatherapy. Likewise, the oil is used to flavor sherbets, which are chilly drinks from India. As a result of severe weather and rising humidity, consumer demand for flavored drinks is increasing. It boosts vetiver oil demand, accelerating global vetiver oil market trend. Furthermore, the increasing popularity of personal appearance and novel odors among a large customer base, as well as an increase in spending on luxury perfumes, drive up demand for vetiver oil market value.
Increased demand in the cosmetics and personal care industry is a primary driver of vetiver oil market size. Because of its cooling properties, vetiver oil is often used in the production of fragrances and scents, and it blends well with perfumes. It is the main ingredient in all scent products, especially those sold to men. As a result, the growth of the vetiver oil market is primarily driven by rising demand from the scent industry. Aromatherapy's growing appeal as a potential substitute to typical allopathic therapies is expected to drive market growth. The growing population for medicinal oils in both emerging and developed countries is expected to propel the vetiver oil industry forward. Moreover, this oil is widely used in aromatherapy due to its several medical benefits, including anti-inflammatory and antibacterial effects.
Vetiver Oil Market Segmentation
The global vetiver oil market segmentation is based on the product, application and geographical region.
Vetiver Oil Market By Product
- Organic
- Conventional
Based on the product, the market is segmented into conventional and organic. According to the vetiver oil market forecast, the organic segment will account for the majority of market revenue. Organic Vetiver Oil is a highly concentrated aromatic liquid derived by steam distillation of the roots and rhizomes. It is major oil produced by steam reforming dried rootstock followed by hydro distillation for many hours, yielding a decent yield of roughly 25% clear to pale yellow oil with a refreshing woody-earthy aroma used as a perfume ingredient.
Vetiver Oil Market By Application
- Medical
- Spa & Relaxation
- Food & Beverage
- Cleaning & Home
In terms of application, the spa and relaxation category accounted for the majority of market shares in 2021. Vetiver oil is a steam-distilled essential oil extracted from vetiver roots. The vetiver plant is frequently located in Haiti, India, and Indonesia. Consumers' health consciousnesses, as a result of their hectic schedules, have produced significant demand for stress-relieving therapies, boosting the need for spa and relaxation and, as a result, raising the market for vetiver oil. Aromatherapy is most commonly utilized in spa and leisure services, and it can also be found in personal care and cosmetics products, and it is predicted to drive the spa and relaxation segment during the forecast period. Vegetable oil is often used in the manufacturing of perfumes for body fragrances, room coolers, oils, fresheners, and cleansers due to its calming and stabilizing aroma.
Vetiver Oil Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Latin America
- Mexico
- Brazil
- Rest of Latin America
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
The Middle East & Africa (MEA)
- Gulf Cooperation Council (GCC)
- South Africa
- Rest of the Middle East & Africa
Europe is expected to be a significant region in the worldwide market. The market is likely to grow positively over the forecast period due to the development of the fragrance and pharmaceutical industries in Europe. Europe has been highlighted as having a higher rate of use of vetiver oil-infused medical and cosmetic items. Vetiver oil is utilized in the region to cure a number of health issues, including respiratory problems, rheumatism, arthritis, and cramps. The United Kingdom, the Netherlands, France, Germany, and Spain are important essential oil markets and importers in Europe. Regional demand can be attributable to the growing product use in pharmaceuticals, cosmetics, and perfumes. Customers' increased interest in aromatherapy will drive up demand for vetiver oil, which is recognized for its appealing scent and antioxidant properties. Throughout Europe, there was a rise in demand for antimicrobial cleansing and household cleaning solutions during the COVID-19 epidemic.
Vetiver Oil Market Players
Some of the prominent global vetiver oil market companies 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.
Frequently Asked Questions
What was the market size of global vetiver oil market in 2021?
The global vetiver oil market size accounted for a revenue of USD 59 Million in 2021.
What will be the projected CAGR for global vetiver oil market during forecast period of 2022 to 2030?
The projected CAGR of vetiver oil during the analysis period of 2022 to 2030 is 9.2%.
Which are the prominent competitors operating in the market?
The prominent players of the global vetiver oil market involve 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.
Which region held the dominating position in the global vetiver oil market?
Europe held the dominating share for vetiver oil during the analysis period of 2022 to 2030.
Which region exhibited the fastest growing CAGR for the forecast period of 2022 to 2030?
Asia-Pacific region exhibited fastest growing CAGR for vetiver oil during the analysis period of 2022 to 2030.
What are the current trends and dynamics in the global vetiver oil market?
Growing application of vetiver oil from the medical, pharmaceutical and food and beverages industry are the prominent factors that fuel the growth of global vetiver oil market.
By segment application, which sub-segment held the maximum share?
Based on application, spa & relaxation segment held the maximum share for vetiver oil market in 2021.
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