Vetiver Oil Market: Trends, Growth, and Future Outlook
The global vetiver oil market size is expected to reach USD 88.0 million by 2027, expanding at a revenue-based CAGR of 9.4%, according to a new report by Grand View Research, Inc. The market is expected to witness surging product demand owing to its increasing applications in pharmaceutical, food and beverage, and fragrance. The growing use of the product in the fragrance industry is expected to boost market growth over the forecast period. It also has widespread usage in varied fragrance products including perfumes, deodorants, cosmetics, lotions, soaps, and scented toiletries. R&D related to the synthesis of the molecules present in the product particularly is expected to provide a unique odor to this product and thereby increase its usage in the fragrance industry. Vetiver oil has widespread usage in medical applications such as the treatment of gout, arthritis, muscle aches, cramps, and rheumatism, which is further expected to favorably impact market growth. F...