According to new Global Market Insights, Inc, chemical research report Vetiver Oil Market size may witness significant gains in the forecast timeframe owing to growing cosmetic industry. The product is gaining popularity owing to treat hyper-tension conditions, depression, stress, anxiety, nervousness and insomnia. It also helps to heal wounds and lift scars by replacing parched and damaged skin cells with rejuvenated healthy cells. These factors may boost market size.
Vetiver oil is derived from aromatic roots of Vetiveria zizanioides (Linn) Nash. The oil released is highly concentrated which is then skimmed off the top of the water. The extracted oil has good fragrance, with a distinctive sharp and earthy scent. It is used for scar treatment, and as a relieving ointment for treating several diseases including rheumatism, headaches, and sprains, thus stimulating vetiver oil market size.
Essential oil market is expected to surpass 370 kilo tons by 2025. Vetiver oil is extensively utilized in the perfume industry for manufacturing incense, scents and colognes. Increasing personal grooming trend owing to rising disposable incomes would propel vetiver oil market growth. The product helps to cure high blood pressure thus, finds applications in pharmaceutical sector. Increasing R & D activities in pharmaceutical sector to manufacture safe drugs will fortify product demand.
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Vetiver oil owing to its therapeutic and anti-anxiety properties is used in diffusers which helps to improve breathing problems. The product is used for treating attention deficit hyperactivity disorder in children and teenagers. Increasing investments in R&D activities leading to product innovation along with rising natural products demand will propel vetiver oil market demand.
Vetiver oil owing to its nourishing and hydrating properties is added to moisturizers in cosmetics industry. The product owing to its inflammatory and impurity removing properties is widely utilized personal care products including face cleaners, toners and hair masks. Shifting consumer preference towards organic beauty products will foster cosmetics industry growth which will in turn fortify vetiver oil market revenue.
Vetiver oil can cause feminine health related issues in expecting mothers thus, it should be utilized in limited quantity. Harvesting crop prematurely and inappropriately reduces quality and value of roots. These factors may hamper industry price trends and vetiver oil market profitability.
Vetiver oil finds its use as a flavoring and preserving agent in food and beverage industry. It is used to flavor syrups and ice creams. The product owing to antimicrobial and antioxidant properties functions as a preserving agent in food and beverage industry and is FDA compliant. The essential oils market share from food & beverage application may account for 145 kilo tons at the end of 2025 thereby, propelling vetiver oil market growth.
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Asia-Pacific led by Japan, India and China may witness substantial gains in the forecaste timeframe. The product owing to its therapeutic properties is used to treat depression and insomnia. It is also used in various skin treatments. Changing lifestyle owing to hectic work schedules will foster pharmaceutical drugs demand which will boost the market growth.
North America led by Canada, Mexico and U.S. vetiver oil market may witness significant gains owing to rising demand of fragrance ingredients. The product due to its pleasant aroma is used in the perfume industry. US perfume industry is expected to grow at 3.5% by 2024 thus, fortifying vetiver oil demand.
Global vetiver oil market share is fragmented with key players including Fleurchem, Inc, Manohar Botanical Extracts Pvt. Ltd, Unikode S.A., Vee Kay International, Kautilya Phytoextracts Pvt. Ltd., Frager S.A., Rajkeerth Aromatics, Aromatic Herbals Pvt. Ltd. and Floracopeia. The manufacturers are investing heavily in R & D activities for increasing production capacity and improving extraction techniques.
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