Vetiver Oil Market Size - Global Industry Share, Analysis, Trends and Forecast 2022 - 2030

The Global Vetiver Oil Market Size accounted for a revenue of USD 59 Million in 2021 and is expected to reach the market value of USD 126 Million by 2030 growing at a significant CAGR of 9.2% during the forecast period from 2022 to 2030.

This growth of the global vetiver oil market is expanding due to rising demand from end-use sectors such as pharmaceuticals. Furthermore, increased use of vetiver oil as a flavoring agent in the food and beverage sector, such as milkshakes, ice cream, and certain other cool drinks, is likely to support vetiver oil market growth during the projected timeframe.

Vetiver oil is an essential oil derived from the aromatic roots of the vetiver species, botanically named Vetiveriazizanioides. This oil is generally used in ayurvedic medications and aromatherapy, and it is very beneficial for treating a number of disorders such as insomnia, anxiety, tiredness, and depression, as well as effectively boosting concentration and memory. The vetiver plant's roots are unique in their capacity to grow downward, forming a deep knot of roots in the earth. Vetiver oil is extracted from the robust vetiver plant's root and has an intense and pungent perfume. This aroma is a key characteristic of Vetiver oil and is used in numerous perfume industries. Vetiver oil contains a high concentration of sesquiterpenes, which gives it a grounding effect on emotions. Vetiver oil is a popular essential oil in massage, as well as topical and aromatic uses, due to its grounding effect. Internally, vetiver oil can aid in the maintenance of a healthy immune system.

Vetiver Oil Market Drivers

• Increasing adoption of vetiver oil from the cosmetic industry
• Rising demand for vetiver oil from the food and beverages industry
• Growing application of vetiver oil from the medical industry
• Increasing consumption of flavor fragrances in the spa and relaxation

Vetiver Oil Market Restraints

• High dependency of planters on investors for financial resources
• Harvesting crops prematurely and inappropriately

Vetiver Oil Market Opportunities

• The growing influence of aromatherapy as an optimum alternative to traditional allopathic solutions

Vetiver Oil Market Report Coverage:

Vetiver Oil Market Dynamics

The modern lifestyle of the urban population, as well as the growing media effect, fuel the need for vetiver oil as an essential massage oil for aromatherapy. Likewise, the oil is used to flavor sherbets, which are chilly drinks from India. As a result of severe weather and rising humidity, consumer demand for flavored drinks is increasing. It boosts vetiver oil demand, accelerating global vetiver oil market trend. Furthermore, the increasing popularity of personal appearance and novel odors among a large customer base, as well as an increase in spending on luxury perfumes, drive up demand for vetiver oil market value.

Increased demand in the cosmetics and personal care industry is a primary driver of vetiver oil market size. Because of its cooling properties, vetiver oil is often used in the production of fragrances and scents, and it blends well with perfumes. It is the main ingredient in all scent products, especially those sold to men. As a result, the growth of the vetiver oil market is primarily driven by rising demand from the scent industry. Aromatherapy's growing appeal as a potential substitute to typical allopathic therapies is expected to drive market growth. The growing population for medicinal oils in both emerging and developed countries is expected to propel the vetiver oil industry forward. Moreover, this oil is widely used in aromatherapy due to its several medical benefits, including anti-inflammatory and antibacterial effects.

Vetiver Oil Market Segmentation

The global vetiver oil market segmentation is based on the product, application and geographical region.

Vetiver Oil Market By Product

• Organic
• Conventional

Based on the product, the market is segmented into conventional and organic. According to the vetiver oil market forecast, the organic segment will account for the majority of market revenue. Organic Vetiver Oil is a highly concentrated aromatic liquid derived by steam distillation of the roots and rhizomes. It is major oil produced by steam reforming dried rootstock followed by hydro distillation for many hours, yielding a decent yield of roughly 25% clear to pale yellow oil with a refreshing woody-earthy aroma used as a perfume ingredient.

Vetiver Oil Market By Application

• Medical
• Spa & Relaxation
• Food & Beverage
• Cleaning & Home

In terms of application, the spa and relaxation category accounted for the majority of market shares in 2021. Vetiver oil is a steam-distilled essential oil extracted from vetiver roots. The vetiver plant is frequently located in Haiti, India, and Indonesia. Consumers' health consciousnesses, as a result of their hectic schedules, have produced significant demand for stress-relieving therapies, boosting the need for spa and relaxation and, as a result, raising the market for vetiver oil. Aromatherapy is most commonly utilized in spa and leisure services, and it can also be found in personal care and cosmetics products, and it is predicted to drive the spa and relaxation segment during the forecast period. Vegetable oil is often used in the manufacturing of perfumes for body fragrances, room coolers, oils, fresheners, and cleansers due to its calming and stabilizing aroma.

Vetiver Oil Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Latin America

• Mexico
• Brazil
• Rest of Latin America

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

The Middle East & Africa (MEA)

• Gulf Cooperation Council (GCC)
• South Africa
• Rest of the Middle East & Africa