Overview of Vetiver Oil Size, Trends, Share and Growth Forecast till 2022
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Vetiver oil is obtained from the vetiver plant and is also referred to as “khus”. It emits a heavy fragrance, more likely an earthy one and has several advantages. It belongs to the poaceae family and is a perennial plant. Typically it is cultivated in all tropical regions on a wide scale.
The global vetiver oil market is expected to reflect a CAGR of 4.0% during the period of forecast, 2017-2022. The growth of the vetiver oil market is impacted by many factors. To name a few, the rising pharmaceutical industry, food and beverage industry, cosmetic industry, perfume industry, growing awareness of the benefits of using vetiver oil, higher disposable income of people who can afford to use spend on cosmetics and on organic or natural medications and so on. The Asia-Pacific excluding Japan (APEJ) region shows average growth considering the global vetiver oil market. However, Europe seems to be the most lucrative region among other regions.
The global vetiver oil market is segmented into source type, form type, application and distribution channel. The research report by Fact.MR on global vetiver oil focuses on these segments and their sub segments and their growth and adoption in different regions of North America, Europe, Latin America, Asia Pacific excluding Japan (APEJ), Middle and Africa (MEA) and Japan.
The prime focus of Fact.MR’s report is to provide readers with an unbiased and accurate analysis of current market status of vetiver oil, along with future growth estimations. Vetiver oil producers, suppliers, and distributors in the global market will benefit from the insights offered in this report. A detailed discussion guide has been formulated in this report, which can attract the interest of top trade magazines and journals related to vetiver oil.
Consumption of Vetiver Oil to Rise in Consumer Market, Especially in Europe
Europe remains the benchmark of consumption of vetiver oil owing to the growth of pharmaceutical industry and perfume industry in this region. Moreover, higher disposable income and luxury lifestyle in the developed regions in Europe contribute to the higher adoption of cosmetic products and medical products in which vetiver oil is used. The end use industry grows strong in Europe thereby increasing the use of vetiver oil in different applications. The European region seems to be lucrative considering all the segments and sub segments in the global vetiver oil market. Even though the adoption rate of vetiver oil in APEJ region is growing at good pace, Europe stays the most dominating region throughout the forecasted period.
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Online Sub Segment Out Paces all Other Distribution Channel Sub Segments
Modern trade, franchise outlets and specialty stores are outpaced by the online sub segment in the distribution channel segment of the global vetiver oil market. The online segment, however, has comparatively lower absolute dollar opportunity as compared to other sub segments. The modern trade sub segment reflects a moderate CAGR, close to yet lower than the online sub segment, but shows a relatively higher absolute dollar opportunity and a higher revenue share among the other sub segments. The online distribution channel is upcoming and in the coming years it is more likely to get a grip in the global vetiver oil market.
The report has projected that companies such as Citrus and Allied Essences Ltd., Bontoux S.A.S, Mountain Rose Herbs, Inc., Aromaaz International, Biolandes, Greenleaf Extractions Private Limited, Plant Therapy Essential Oils, Synthite Industries Ltd, Young Living Essential Oils LC, Green Fields Oil Factory, and IL Health and Beauty Natural Oils Co., Inc will remain active in global expansion of vetiver oil market through 2022.
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