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Vetiver Oil Market Growth Rate, Key Application, Industry Demand, Trends, New Technology Analysis and Segments, Forecast 2030
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Factors Influencing the Market
Growing demand for vetiver oil from end-use industries such as pharmaceuticals are driving the growth of the global vetiver oil market. In addition, the increasing awareness about the benefits of natural oil is driving the growth of the global vetiver oil market.
Changing lifestyles and growing urbanization will surge the growth of the global vetiver oil market. Vetiver oil is used as a massage oil to relax stress and help people overcome anger, irritability, and hysteria issues. Moreover, the growing urban population will ultimately surge the market growth.
Vetiver oil is widely used as a flavoring agent in the food and beverage segment to develop khus syrups, ice creams, yogurts, and preparing milkshakes in the region. Changing climatic conditions and growing humidity will fuel the demand for such beverages, thereby fueling the growth of the global vetiver oil market.
Vetiver oil is used in the medical industry for treating skin and hair-related diseases. Moreover, it also helps in preventing stretch marks and strengthens the central nervous system. Thus, the growing demand for beauty products will ultimately fuel the growth of the global vetiver market during the study period. Moreover, vetiver oil is being used to develop homemade cleaners and sprays due to their antimicrobial properties. Thus, it will boost the growth of the global vetiver oil market during the forecast period from 2022 to 2030.
The high cost of vetiver oil may limit the growth of the global market.
Regional Analysis
The European market for vetiver oil market is forecast to grow at a rapid pace during the study period. The growth of the region is associated with the increasing demand for aromatherapy among customers. In addition, the Asia-Pacific vetiver oil market is forecast to hold dominance during the study period. The growth of the region is attributed to the presence of emerging countries, such as India, China, and Japan. The demand for fragrances, cosmetics, and pharmaceuticals is growing in these regions, thereby fueling the demand for vetiver oil.
The demand for cosmetics is highest in China. In addition, Thailand's beauty and personal care market is also growing rapidly. Furthermore, the rapidly growing number of salons, spas, parlors, barbershops, and clinics in India are forecast to benefit the global vetiver oil market during the forecast period.
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Asia-Pacific is home to some of the prominent vetiver oil market players, such as Aromatic Herbals Private Limited, Green Essence Extraction Private Limited, and UniKode S.A. All of these factors will contribute to the growth of the market.
COVID-19 Impact Analysis
The demand for vetiver oil reduced drastically. Due to lockdown restrictions and employment problems, the demand for spas and cosmetics reduced dramatically. Thus, it hampered the growth of the market for vetiver oil.
Market Segmentation
The global vetiver oil market segmentation focuses on Type, Application, and Region.
By Type
Organic
Conventional
By Application
Perfumery
Toiletries
Air Fresheners
Cosmetics
Food and Beverages
Others
By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
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Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Competitors in the Market
UniKode S.A.
Fleurchem, Inc.
Aromatic Herbals Private Ltd.
Frager S.A.
Manohar Botanical Extracts Pvt. Ltd.
Imperial Extracts
Falcon
Van Aroma
Other Prominent Players
Key questions answered in the Market report are:
How does a global company acquire markets?
What are its core strategies and policies?
What factors will influence the market over the forecast period?
What are the factors driving and restraining the market?
What are the leading competitors in the global market?
Which region is growing at a higher pace in the global market?
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