The global vetiver oil market was valued at US$ 56.3 million in 2016 and is projected to reach US$ 172.2 million by 2025, exhibiting a CAGR of 13.71% during the forecast period, Vetiver oil is a type of essential oil, which has soothing and healing properties. The oil is utilized in applications such as fragrances, flavoring in food & beverages, and pharmaceuticals among others. The oil is produced by distillation of vetiver roots, majorly in countries such as Haiti, Indonesia, India, Reunion (France), and Brazil. The medicinal properties of the oil are well documented and it is widely used as a traditional medicine for the treatment of boils, burns, insect bites, and stings. Increasing demand for vetiver oil in fragrances and pharmaceuticals applications has fueled the market growth. Moreover, the oil reduces inflammation, anxiety, nervousness, and is also used in medicines to eliminate scars and heal wounds.
Market Dynamics:
North America and Europe are lucrative regions for the vetiver oil, owing to increasing demand of oil in natural fragrances. Europe held the largest market share in the global vetiver oil during 2016, with US$ 20.9 million and projected to witness a CAGR of 13.34% over the forecast period (2017-2025). Germany, U.K., France, and Italy offer significant opportunities for growth of vetiver oil market in Western Europe. Asia Pacific is accounted to be the fastest growing region in the global vetiver oil market, owing to the increasing population and growing awareness regarding the health benefits of vetiver oil. Asia Pacific is estimated to exhibit a CAGR of 16.45% during the forecast period, to reach US$ 34.2 million by 2025.
Key features of the study:
This report provides in-depth analysis of vetiver oil market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2016 – 2024), considering 2015 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
It profiles leading players in the global vetiver oil market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered as a part of this study include International Fragrance and Flavor Inc., Lluch Essence SL, UniKode S.A., Frager S.A., Robertet Group, Ernesto Ventos S.A., Floracopeia Inc., Fleurchem Inc., and Haiti Essential Oil Co. S.A.
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
The global vetiver oil market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the vetiver oil market
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