SAN FRANCISCO, April 14, 2016 /PRNewswire/ --
The global vetiver oil market is expected to reach USD 169.5 million by 2022, according to a new report by Grand View Research, Inc. The market is expected to witness significant growth over the forecast period on account of its profound usage in applications including fragrance, pharmaceutical, and food & beverage.
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Growing use of the oil in fragrance industry on account of its unique odor is expected to propel demand over the forecast period. The product has widespread usage in various applications including perfumes, deodorants, cosmetics, lotions as well as soaps. In addition, the compound has extensive usage in the aromatherapy applications owing to its smooth & light fragrance, thus promoting its growth over the next seven years.
The product is available in various grades based on its place of origin including Haiti, Java, and India. Haitian vetiver dominated the market in terms of production volumes followed by Java and India. The increasing use of Java vetiver in fragrance & flavor industry is expected to propel demand which in turn is likely to boost production volumes. However, high product cost associated with the product on account of complex production techniques is expected to hamper growth over the next seven years.
Browse full research report with TOC on "Vetiver Oil Market Analysis By Application (Fragrance, Pharmaceuticals, Food & Beverage) And Segment Forecasts To 2022" at: http://www.grandviewresearch.com/industry-analysis/vetiver-oil-market
Further key findings from the report suggest:
Grand View Research has segmented the vetiver oil market on the basis of application and region:
Browse related reports by Grand View Research:
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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