Vetiver Oil Market Size, Segmentation, Parameters, and Forecast by 2030

Vetiver oil Market Size in 2021 was USD 59 Million, Market Value set to reach USD 126 Million at 9.2% CAGR by 2030

Vetiver oil Market Research Report Highlights and Statistics

● The global Vetiver oil market size in 2021 stood at USD 59 Million and is set to reach USD 126 Million by 2030, growing at a CAGR of 9.2%
● Demand for natural and organic personal care and aromatherapy products is driving the market growth for vetiver oil.
● Ayurvedic and traditional medicine have gained tremendous popularity over the years which is also helping the market for vetiver oil to grow.
● Europe has the largest vetiver oil market share, due to a high demand for the product in the region and a high number of pharma companies.
● Key players in the market include doTerra, Young Living Essential Oils, The Lebermuth Company, Inc., Floracopeia, Inc., and Mountain Rose Herbs.
● The medical application segment is expected to hold the largest share of the global vetiver oil market during the forecast period.
● The online distribution channel is expected to grow at the fastest CAGR during the forecast period, due to the increasing penetration of the internet and the growing preference for online shopping.

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Vetiver oil Market Overview

Vetiver oil is an essential oil extracted from the roots of the vetiver plant, also known as khus grass. It has a strong, earthy, and grounding aroma and is known for its soothing and calming properties. It is used in perfumes, soaps, candles etc. It is also used in aromatherapy to help with anxiety and stress, and is believed to have anti-inflammatory and pain-relieving properties. It is also used in traditional Ayurvedic medicine to help with skin problems, such as eczema and acne. It can also be used as an insect repellent and as a fixative to help other fragrances last longer. Vetiver is primarily grown in tropical and subtropical regions, including countries such as India, Haiti, Indonesia, and Sri Lanka. It is mainly planted during the rainy season, when the soil is moist and the temperature is warm. However in some regions, it is planted during the dry season, as long as there is sufficient irrigation available.

The vetiver oil market has been growing at a good pace, it is part of the larger essential oils industry. The market for vetiver oil is being propelled by increasing demand for natural and organic personal care and aromatherapy products. Vetiver oil, also known as khus oil, is extracted from the roots of the Vetiveria zizanioides plant through steam distillation.

The global vetiver oil market share is set to experience robust growth in the years to come
and is primarily driven by the rising awareness of the benefits of natural and organic personal care products. The increasing consumer demand for natural and organic products, along with the growing awareness of the benefits of aromatherapy, is expected to fuel the growth of the vetiver oil market. Furthermore, the rising popularity of ayurvedic and traditional medicine is expected to boost the demand for vetiver oil.

We can segment the vetiver oil market based on the application, distribution channel, and region. In terms of region, the global vetiver oil market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Key players operating in the global vetiver oil market include doTerra, Young Living Essential Oils, The Lebermuth Company, Inc., Floracopeia, Inc., and Mountain Rose Herbs, among others. These players are focusing on strategic partnerships and collaborations to expand their market presence and strengthen their position in the global market.

Trends in the Vetiver Oil Market

● Increasing Demand for Natural and Organic Personal Care and Aromatherapy Products: With the growing awareness of the benefits of natural and organic products, consumers are increasingly looking for natural and organic personal care and aromatherapy products, which is driving the demand for vetiver oil.
● Rising Popularity of Ayurvedic and Traditional Medicine: Vetiver oil is traditionally used in ayurvedic medicine for its calming and grounding properties. Some people believe it can also relieve pain in different muscles, even knee joint pain.
● Expansion of E-commerce Platforms: With the increasing penetration of the internet and the growing preference for online shopping, the online distribution channel is expected to grow at a higher CAGR during the forecast period.
● Strategic Partnerships and Collaborations: Key players in the vetiver oil market are focusing on strategic partnerships and collaborations to expand their market presence and strengthen their position in the global market.
● Development of Innovative Products: Companies are investing in research and development activities to develop new and innovative products to meet the changing consumer preferences and demands.
● Growing consumption of Perfumes, Soaps and Cosmetics: The perfumes, soaps and cosmetics application segment is expected to hold the largest share of the global vetiver oil market during the forecast period due to its wide range of applications in these segments.

Vetiver Oil Market Dynamics

● Rising Awareness of the benefits of Aromatherapy: The increasing awareness of the benefits of aromatherapy is expected to boost the demand for vetiver oil, as it is known for its grounding, calming, and stabilizing properties.
● Since these have natural ingredients, many people prefer them over chemical induced fragrances and oil, as they can be harmful and can cause skin irritations.
● It can also help some people with migraine problems.
● Increasing consumer awareness of the benefits of natural products: Consumers are becoming more aware of the benefits of using natural products, which is contributing to the growth of the vetiver oil market.
● Growing necessity of using sustainable and eco-friendly products: Consumers are becoming more environmentally conscious and are looking for sustainable and eco-friendly products, which is contributing to the growth of the vetiver oil market.
● Increasing penetration of the internet and the growing preference for online shopping: The increasing penetration of the internet and the growing preference for online shopping are driving the growth of the vetiver oil market, as more and more consumers are turning to online platforms to purchase natural and organic products.
● Rising demand for personal care products: The increasing demand for personal care products is driving the growth of the vetiver oil market, as the oil is used in a variety of personal care products such as perfumes, soaps, and cosmetics.

Vetiver Oil Market Growth Hampering Factors

● High cost of production: The process of extracting vetiver oil from the roots of the Vetiveria zizanioides plant is a complex and costly process. This high cost of production may hamper the growth of the vetiver oil market.
● Limited availability of raw materials: The Vetiveria zizanioides plant is not widely cultivated, which may lead to limited availability of raw materials for the production of vetiver oil, and thus can be limiting the market growth.
● Strict regulations: The essential oil industry is subject to strict regulations, which may make it difficult for companies to comply and may hamper the growth of the market.
● Low awareness: Despite the many benefits, vetiver oil is not well-known among consumers, which can limit the growth of the market.
● Substitute products: There are other essential oils that can provide similar benefits to vetiver oil, such as lavender and peppermint, which may act as a substitute and hamper the growth of the market.
● Competition from synthetic oils: Synthetic oils are cheaper and more easily available than natural oils. This competition may hamper the growth of the market.
● Lack of standardization: Lack of standardization in the production and labeling of vetiver oil may create confusion among consumers and may hamper the growth of the market.

Market Segmentation

● Product Type
○ Conventional
○ Organic

● By Application
○ Medical
○ Food and beverages
○ Spa and relaxation
○ Cleaning home

● By Distribution channel
○ Online stores
○ Offline stores

Vetiver Oil Market Key Players

Givaudan, Firmenich, International Flavors & Fragrances (IFF), Robertet, Plant Therapy Essential Oils, Symrise AG, Synthite Industries Ltd, Berjé Inc., S. C. Johnson & Son, Young Living Essential Oils, doTerra International LLC, Eden Botanicals, UniKode S.A., Floracopeia, GreenHealth Essential Oils, The Lebermuth Co., Inc., The Essential Oil Company, Citrus and Allied Essences Ltd., Aromatherapy Associates, Robertet Group, Natural Sourcing LLC, Albert Vieille, Moksha Lifestyle Products, S S Essential Oils, Kanta Enterprises, V.R. Aromatics Private Limited, Aromatic Natural Oils, Vigon International Inc., Aromatic Herbals Private Limited, AOS Products Pvt Ltd, Kanta Enterprises, Pacific Oleochemicals Sdn Bhd, J.K. Aromas & Perfumes, Rajkeerth Aromatics and Biotech Pvt Ltd, N. K. Industries, Aromatic Natural Oils, Aromatic Oleoresins & Natural Extracts, Bontoux S.A.S, Biolandes and Imperial Extracts

Vetiver Oil Market Overview by Region

● As per our report, the European region holds a significant share of the global Vetiver Oil market, due to the rising awareness of the benefits of natural and organic personal care products.
● The market in North America is also expected to grow at a significant pace, driven by the increasing demand for perfumes and other cosmetics containing Vetiver Oil.
● The Asia Pacific region is expected to have the fastest-growing vetiver oil market share, due to the high influence of ayurveda and traditional medicine in countries such as India, China, and Japan. The presence of a large number of manufacturers and suppliers of Vetiver Oil in this region is also expected to drive market growth.
● The vetiver oil market size in Latin America and MEA region is expected to witness moderate growth due to the limited awareness of the benefits of Vetiver Oil among consumers in this region. Countries such as Brazil and Argentina have seen a good amount of demand for the said product.

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