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Posted in Chemicals by Adolf on Dec 12,2022 1084
The vetiver oil market is an important oil derived from the vetiver plant. The material has a strong fragrance and is extensively used in perfumes and colognes. It is broadly used in aromatherapy due to its strong antioxidant properties. These properties also make it useful as a preservative for food and pharmaceutical products. Furthermore, the antimicrobial feature of vetiver oil makes it appropriate in cleaning and homecare products. The all-natural essential oil is known to improve breathing problems during sleep, protection from ticks, among countless other health benefits.
The components responsible for the growth of this market include growing demand from major end-use industries such as pharmaceuticals in the US and Canada. The increasing consumer awareness related to natural products coupled with the growing trend towards organic food is expected to create new opportunities for market players operating in Vetiver Oil Market. Moreover, the change in lifestyle among urban population and growth of media influence is driving the demand for vetiver oil as an essential massage oil for aromatherapy. Additionally, the oil is used for flavouring sherbets (Indian cool drinks). With extreme climatic circumstances and a rise in humidity, the demand by consumers for flavoured beverages is on a rise. This mainly favours the demand for vetiver oil, thus driving the growth of the global market.
Besides the conventional type, the organic vetiver oil is an extremely concentrated aromatic liquid which is obtained through the steam distillation of roots and rhizomes. It is an important oil produced by steam distillation from dried rootstock followed by hydro distillation for several hours, which results in a good yield (approximately 25%) of clear to pale yellow coloured oil with a fresh woody-earthy smell used as a perfume ingredient.
Due to its increasing applications in pharmaceutical, food and beverage, and fragrance, the product is expected to drive market growth over the forecast years. It also has widespread application in several fragrance products including perfumes, deodorants, cosmetics, lotions, soaps, and scented toiletries. The pharmaceutical industry uses vetiver oil for formulating concoctions aimed at treating skin diseases, averting stretch marks, firming up the central nervous system, and overcoming conditions such as depression, anxiety, stress, insomnia, nervousness, and tension. It is also used as an aphrodisiac, as a cicatrizant (for the eradication of scars) and as a relieving embrocation for rheumatism, lumbago, sprains, and headaches.
Robust changes brought in by the pandemic COVID-19 in the Vetiver Oil supply chain and shifts in consumer behaviour are necessitating the business players to be more vigilant and forward-looking to stay ahead in the competition. The Vetiver Oil Market Revenue is expected to grow at a healthy CAGR propelled by staggering demand from millennials and emerging markets. Technological advances in the Vetiver Oil market enabling efficient production, expanding product portfolio, sophisticated design and packaging, effective operational maintenance and sales monitoring are the key growth drivers. However, complying with stringent regulations and varying standards around the world, growing competition, inflation estimated to remain above the upper band during the short term in key nations, and fluctuating raw material prices are some of the Vetiver Oil market restraints over the forecast period.
The research analyses various direct and indirect forces that can potentially impact the Vetiver Oil market supply and demand conditions. Parent market, derived market, intermediaries’ market, raw material market and substitute market are evaluated. Geopolitical analysis, demographic analysis, and porters’ five forces analysis are prudently assessed to estimate the best Vetiver Oil market projections.
Recent deals and developments are considered for their potential impact on Vetiver Oil's future business. Other metrics analysed include threat of new entrants, threat of new substitutes, product differentiation, degree of competition, number of suppliers, distribution channel, capital needed, entry barriers, govt. regulations, beneficial alternative, and cost of substitute in vetiver oil market. Vetiver oil trade and price analysis helps comprehend Vetiver Oil's international market scenario with top exporters/suppliers and top importers/customer information.
Moreover, the data and analysis assist the clients to plan procurement, identifying potential vendors/clients to associate with, understanding Vetiver Oil price trends and patterns, and exploring new Vetiver Oil sales channels. UniKode S.A., Fleurchem Inc., Aromatic Herbals Private Ltd., Frager S.A., Manohar Botanical Extracts Pvt. Ltd., Imperial Extracts, Falcon and Van Aroma are some of the prominent players of the market.