Rose Oil Market Overview
The rose oil market growth will be at a rate of 8.19% during the evaluation period (2020 to 2030), says Market Research Future (MRFR). The market value by the end of 2030 should be around worth USD 620.5 million, expects MRFR.
Market Drivers and Key Restraints
Consumers mounting interest in personal grooming and their willingness to explore new brands has resulted in booming sales of products infused with rose oil. Moreover, the soaring demand for beauty and cosmetic products containing natural ingredients like rose oil benefits the global industry as well. The business value is further augmented by the rising prominence of e-retailing. E-retailing plays a significant role in the booming sales of foreign and local brands through online portals.
Attractive packaging has emerged as a significant trend, with many manufacturers using sustainable and aesthetic packaging to gain the attention of more consumers. Manufacturers are introducing new products like perfumes and personal care products infused with rose oil in appealing packaging. The soaring number of perfume users worldwide should enhance the rose oil market share in the years to come.
Most of the contenders are joining hands with popular e-commerce companies to establish their own e-commerce sites. This helps them have a higher consumer reach, particularly in emerging nations where online shopping has picked up significant pace in recent years. Surge in the economic standards of developing regions and the escalating preference for luxury items among consumers will be a striking opportunity for the global vendors as well.
Leading Contenders
Sigma-Aldrich, Inc., Ernesto Ventos SA, Alteya Organics, LLC, Givaudan SA, irmenich International SA, Symrise AG V, MANE FILS SA, Robertet SA, International Flavors Fragrances Inc and BERJ INC are the top rose oil developers in the worldwide market.
Market Segmentation
The rose oil market research has been classified with respect to type, category, and application.
Rose absolute, rose otto, and others are the primary types of rose oils in the market.
The major categories discussed in the research study are conventional as well as organic. Heightened preference for organic cosmetic products has boosted the demand for rose oil. Consumers are now more inclined towards herbal products, especially when it comes to skin care. Additionally, the organic certification associated with rose oil helps manufacturers gain more end-users from the organic cosmetic sector, thereby fostering market demand.
Top applications of rose oil include foods and drinks, fragrances and perfumes, cosmetics and toiletries, and more. The dramatic growth of the fragrance sector has been favourable for the rose oil industry. Numerous luxury brands offer rose-textured scents to spark the interest of more female consumers. The use of rose oil has increased considerably in various aromatic room fresheners, including sticks, gels, and candles. Rose-oils multi-functional properties raises its use as a chief ingredient in a variety of skin and cosmetic products. Plus, extensive product use in the treatment of numerous skin ailments happens to be an important growth booster.
Regional Outlook
Europe is the biggest rose oil market, as the majority of the population in the region prefers products infused with natural and organic ingredients. As a result, the demand for rose oil is extremely high, especially in the United Kingdom, Germany, France, Spain, and Italy. Many of the reputed brands in Europe focus on launching a variety of products infused with rose oil, in view of the massive consumer base for the same.
Japan, China, New Zealand, Australia, and India are the important markets in Asia Pacific, with the region expected to garner the fastest growth rate in the years ahead. The surging consumer expenditure and the advancing living standards in the region will ensure significant market growth in the next several years. Aggressive advertising and promotional activities via social media and the soaring popularity of online retail channels in the region adds to the business value as well.
Latest Updates
January 2022
Snif, a popular perfume brand, has added a new Fragrance Collection 3 to its perfume collection. The range now comprises three new scents, ranging from sweet and smoky, to warm and juicy. One of the perfumes, Burning Bridges contains a blend of rose absolute, Madagascar vanilla, and iris.
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