The market for Vetiver oil is growing with the expansion of this Industry Sector Worldwide. Fact.MR has added a new report titled “Vetiver Oil Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022” which offer details about the current trends as well as scope for the Vetiver oil in the near future. This research study also covers information about the production and market share based on different active regions. Furthermore, an anticipated growth at a double-digit CAGR for the concerned sector is highlighted in the report which indicates a prosperous future.
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Vetiver oil is obtained from the vetiver plant and is also referred to as “khus”. It emits a heavy fragrance, more likely an earthy one and has several advantages. It belongs to the poaceae family and is a perennial plant. Typically it is cultivated in all tropical regions on a wide scale.
The global vetiver oil market is expected to reflect a CAGR of 4.0% during the period of forecast, 2017-2022. The growth of the vetiver oil market is impacted by many factors. To name a few, the rising pharmaceutical industry, food and beverage industry, cosmetic industry, perfume industry, growing awareness of the benefits of using vetiver oil, higher disposable income of people who can afford to use spend on cosmetics and on organic or natural medications and so on. The Asia-Pacific excluding Japan (APEJ) region shows average growth considering the global vetiver oil market. However, Europe seems to be the most lucrative region among other regions.
Following extracts on global vetiver oil market will be ardent to the future prospects in the market:
1- Organic seems to be growing at a faster rate within the source type segment in the global vetiver oil market. The natural sub segment is expected to represent approximately 78% of the market by 2022 with a moderate growth rate. Per year, the growth of the natural source type reaches a value more than US$ 20 Mn
2- European region favors the vetiver oil market. it is expected to dominate the global vetiver oil market and grow at a moderate pace during the forecast period of 2017 to 2022. It is the most lucrative region for vetiver oil and reflects higher market attractiveness, followed by Japan
3- Within the form type segment, the blend sub segment is poised to show a higher growth rate throughout the forecast period followed by absolute and blends sub segment of the vetiver oil market. For all the three form types, Europe stays the most lucrative region exhibiting a higher revenue market share compared to other regions.
4- Food and beverages remains the largest application segment in the period of forecast. Towards the end of the forecasted period, that is by 2022, this segment is expected to show a revenue of almost US$ 200 Mn.
5- The online sub segment of the distribution channel is expected to grow at a higher rate in the forecasted period. In 2017, the online sub segment reflected a revenue of approximately US$ 74 Mn and is poised to reach more than US$ 90 Mn.
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Competition Tracking
The report has projected that companies such as Citrus and Allied Essences Ltd., Bontoux S.A.S, Mountain Rose Herbs, Inc., Aromaaz International, Biolandes, Greenleaf Extractions Private Limited, Plant Therapy Essential Oils, Synthite Industries Ltd, Young Living Essential Oils LC, Green Fields Oil Factory, and IL Health and Beauty Natural Oils Co., Inc will remain active in global expansion of vetiver oil market through 2022.
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