Market Overview
The Rose oil market size growth will be at a rate of 8.19% during the evaluation period (2023 to 2032), says Market Research Future (MRFR). The market value by the end of 2032 should be around worth USD 0.81 billion, expects MRFR.
The US rose oil market has witnessed robust growth in recent years, fueled by increasing consumer awareness regarding the benefits of natural and organic skincare products. Market research indicates that the demand for rose oil is on the rise, with the market size reaching millions of dollars. Furthermore, the market is projected to continue growing at a steady pace, driven by evolving consumer preferences towards clean and sustainable beauty solutions.
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 risen as a significant trend, with many of the 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 with appealing packaging. The soaring number of perfume users worldwide should enhance the 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.
Market Segmentation
The rose oil market has been categorized with respect to type, category and application.
Rose absolute, rose otto, and others are the primary types of rose oil in the market.
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 the market demand.
Top applications of rose oil are food and drinks, Fragrances and perfumes, Cosmetics and toiletries and more. Dramatic growth of the fragrance sector has been favorable for the rose oil market. Numerous luxury brands offer rose texture-based scents to spark the interest of more women consumers. Use of rose oil has risen considerably in various aromatic room fresheners including sticks, gels, and candles. Rose-oil’s 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 majority of the population in the region prefer 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.
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 BERJÉ INC are the top rose oil developers in the worldwide market.
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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