Vetiver Oil Market Scenario Highlighting Major Drivers & Trends, 2017 to 2022

Posted on 2019-08-22 by Mark Hub in Food & Beverage // 0 Comments

Rise in demand of the vetiver oils can be attributed towards its vast benefits, not only in the cosmetic field or in perfume industry but also in the pharmaceutical sector where it is used in concoctions in order to treat several skin diseases, stretch marks, reinforcing the CNS (Central Nervous System) as well as used to treat conditions such as anxiety, depression, insomnia, stress, tension, nervousness etc.

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The major producers of vetiver oils are situated in Japan, China, Brazil and India making these regions as prime manufacturing areas for vetiver oil. The regions of US and Europe are considered to be the largest consumers for vetiver oils. This list also includes Japan and India. The increased awareness of natural remedies, benefits of vetiver oil and increasing adoption in different end use industries has spurred the growth of the vetiver oil market from a global standpoint. However, certain limitations such as vetiver oil cannot be consumed by pregnant women as it can cause problems or miscarriage challenge the growth of the vetiver oil market. Fact.MR’s recent research publication on vetiver oil market reveals that the global market for vetiver oil is expected to register a CAGR of 4.0% during the forecast period of 2017 to 2022 to reach a value of US$ 834.7 Mn.

Following extracts from FACT.MR’s global vetiver oil market will be ardent to the future prospects in the market

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.

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.

Vetiver Oil Source Type, Organic to Show Higher Growth Rate

The organic sub segment of the source type in vetiver oil market shows a higher growth rate throughout the forecasted period and gains high Base Point Share (BPS) value during the period of forecast whereas the natural sub segment loses Base Point Share during this period. However, the absolute dollar opportunity of natural sub segment is comparatively higher than the organic sub segment, and so is the overall revenue market share. Europe is the most lucrative region for the vetiver oil by form type and is expected to grow at a higher pace till 2022.

The growth of vetiver oil market is influenced by several factors. Mainly the benefits of vetiver oil have increased the diameter of the awareness of the product and is becoming famous globally. Vetiver oil is highly found in end use applications such as perfumes, toiletries, cosmetics, and many more. Moreover, they have their use in the pharmaceutical industry wherein they are used in production of several medicines to cure skin diseases, treat insomnia, sleep disorders etc. The growth in adoption of vetiver oil has been on the rise owing to these end user sectors and their significant growth in the recent years. According to expert opinions and market observers, this growth will further increase in the forecasted period. The supply and demand side sectors also affect the growth of the vetiver oil. Tropical regions show higher cultivation of the vetiver plant and higher production of vetiver oil.

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.

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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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