Vetiver Oil Market in Asia-Pacific to majorly drive the regional growth by 2025 | By Key Players Rajkeerth Aromatics, Aromatic Herbals Pvt. Ltd., Floracopeia
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North America led by Canada, Mexico, and the U.S. vetiver oil market may witness significant gains owing to the rising demand for 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.
Europe led by UK, France and Germany Vetiver Oil Market size is expected to grow in the estimated timeframe. An increase in preference of aromatherapy as a natural healing treatment and inclination of consumer towards home care and organic personal products may promote regional industry growth.
Brazil should register significant gains over the projected time period owing to a growing consumer base for the cologne market. The Brazilian fragrance market is anticipated to witness strong gains over 3.0% by 2023. The product is utilized in manufacturing aromatic wax, kaolin, potpourri, and soaps. These factors are likely to escalate vetiver oil market growth.
Vetiver Oil Market By Product, 2014-2025 (Kilo Tons) (USD Million)
Vetiver Oil Market By Application, 2014-2025 (Kilo Tons) (USD Million)
2. Personal Care & Cosmetics
3. Food & Beverages
6. Cleaning & Homecare
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Global fragrance and perfume market is expected to surpass USD 50 billion over the projected time period. The essential oil of Haitian vetiver exhibits roseate odor while Indian vetiver has balsamic woody scent which is used in fragrance industry. Expanding retail chain networks and advertising activities by perfume manufacturers will enhance the market size.
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.
Browse Related Report: https://www.marketwatch.com/press-release/acrylamide-market-regional-landscape-production-sales-consumption-status-and-prospects-2019-2025-2019-09-09
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