DUBLIN--(BUSINESS WIRE)--The "Vetiver Oil Market Size, Share & Trends Analysis Report by Application (Medical, Food & Beverage, Spa & Relaxation), by Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global vetiver oil market size is expected to reach USD 88.0 million by 2027, expanding at a revenue-based CAGR of 9.4%.
The market is expected to witness surging product demand owing to its increasing applications in pharmaceutical, food and beverage, and fragrance. Growing use of the product in the fragrance industry is expected to boost market growth over the forecast period. It also has widespread usage in varied fragrance products including perfumes, deodorants, cosmetics, lotions, soaps, and scented toiletries. R&D related to synthesis of the molecules present in the product, particularly is expected to provide unique odor to this product and thereby increase its usage in the fragrance industry.
Vetiver oil has widespread usage in medical applications such as treatment of gout, arthritis, muscle aches, cramps, and rheumatism, which is further expected to favorably impact market growth. Furthermore, this essential oil sedates nervous irritations, convulsions and emotional outbursts such as epileptic, restlessness, and hysteric attacks. The product is also used to ease inflammation of the nervous as well as circulatory systems.
Increasing use of vetiver oil as a flavoring agent in the food and beverage segment including ice creams, milkshakes, and several other cool drinks is expected to favorably impact market growth over the forecast period. Furthermore, vetiver oil is also used in certain canned foods such as asparagus as well as peas, wherein the product is used to reinforce natural odor as well as taste.
Further key findings from the report suggest:
- The vetiver oil market is anticipated to reach 748.4 tons by 2027 in terms of volume, at a volume-based CAGR of 7.8% from 2020 to 2027
- In terms of revenue, the food and beverages application segment is projected to ascend at a CAGR of 9.8% over the forecast period
- In terms of volume, spa and relaxation emerged as the largest application segment in 2019 owing to increasing consumption of personal care and cosmetics products in developing economies
Asia Pacific is projected to witness a remarkable growth rate of 8.9%, in terms of volume, in the near future, owing to the increasing consumption of personal care and cosmetic products in the region
Key Topics Covered:
1 Methodology and Scope
2 Executive Summary
2.1 Market Snapshot
2.2 Segment Outlook
3 Industry Outlook Analysis
3.1 Market Lineage Outlook: Essential Oils
3.2 Penetration & Growth Prospect Mapping
3.3 Value Chain Analysis
3.3.1 List Of Key End-Users
3.4 Price Trend Analysis
3.5 Technology Outlook
3.5.1 Solvent Extraction
3.5.2 Steam Distillation
3.5.3 Co2 Extraction Process
3.6 Regulatory Framework
3.7 Market Dynamics
3.7.1 Market Driver Analysis
3.7.2 Growing Use Of Vetiver Oil In Medical Industry
3.7.3 Increasing Demand For Flavors & Fragrances From Key End-User Industries
3.7.4 Market Restraint Analysis
3.7.5 Availability Of Raw Materials
3.8 Industry Challenges
3.9 Business Environment Analysis
3.9.1 Porter Analysis
3.9.2 Pestel Analysis
4 Application Estimates & Trend Analysis
4.1 Global vetiver oil application movement analysis & market share, 2019 & 2027 (Tons) (USD Thousand)
4.2 Global vetiver oil market size & forecasts and trend analysis, by application, 2016 - 2027 (Tons) (USD Thousand)
4.2.2 Food & Beverages
4.2.3 Spa & Relaxation
4.2.4 Cleaning & Home
5 Regional Estimates & Trend Analysis
5.1 Vetiver oil regional movement analysis & market share, 2019 & 2027 (Tons) (USD Thousand)
5.1.1 North America
5.1.3 Asia Pacific
5.1.4 Central America
5.1.5 South America
5.1.6 Middle East & Africa
6 Competitive Analysis
6.1 Vendor Landscape
6.2 Company Market Positioning
6.2.1 Competitive Environment
6.2.2 Strategy Framework
7 Company Profiles
7.1 UniKode S.A.
7.2 Fleurchem, Inc.
7.3 Aromatic Herbals Private Limited
7.4 FRAGER S.A.
7.5 Manohar Botanical Extracts Pvt. Ltd.
7.6 Imperial Extracts
7.8 LLUCH ESSENCE, S.L.
7.9 Van Aroma
7.10 Vigon International, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/tews2p