The global rose oil market size touched a remarkable valuation in 2023. The market is slated to expand at an appreciable CAGR over the analysis period.
Rose oil is used in aromatherapy for facilitating mind and body relaxation and combating stress in individuals. The growing product demand in food & beverages, cosmetics & fragrances, medical, and other sectors is set to fuel the industry expansion.
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Segmentation:
Conventional Segment to Lead the Market Owing to Growing Usage in Perfume Manufacturing
By product, the market is bifurcated into conventional and organic. The conventional segment is set to hold a dominant share in the market. This is due to the surging product deployment in fragrance and perfume manufacturing across various countries.
Fragrances & Cosmetics Segment to Register Key Share Due to Increasing Popularity of Rose Oil-based Perfumery
Based on application, the market is segmented into food & beverages, fragrance & cosmetics, and others. The fragrances & cosmetics segment is poised to record a leading market share over the study period. This can be attributed to the escalating popularity of rose oil-infused floral fragrances.
Specialty Store Segment to Expand Driven by Availability of Various Products
By distribution channel, the market is fragmented into supermarkets/hypermarkets, specialty stores, online, and others. The specialty store segment is anticipated to exhibit significant growth owing to availability of a range of products at competitive prices.
On the basis of geography, the market for rose oil has been studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report gives an overview of the major factors slated to boost the global business scenario over the coming years. The key market trends have also been provided in the report. An analysis of the industry on the basis of various segments - product, application, distribution channel, and geography – has also been presented in the report.
Drivers and Restraints:
Rising Product Deployment in Scents and Perfumes to Propel Industry Expansion
The escalating product usage in perfumes and scents is expected to drive rose oil market growth over the coming years. The oil is also used in several cosmetic and skincare formulations on account of their superior anti-inflammatory properties. These attributes can help in the reduction of fine lines, wrinkles, and age spots on the skin.
Regional Insights:
Europe Held Significant Share in 2022 Owing to Increasing Product Deployment for Medicinal Purposes
In 2022, Europe captured a significant share in the global market. This is due to the escalating product demand for medicinal and therapeutic purposes and the presence of key rose oil producers in the region.
The Asia Pacific rose oil market share is set to record considerable expansion over the analysis period. The regional growth is driven by the soaring product popularity in China, India, and other countries.
Competitive Landscape:
Market Players Launch New Products to Strengthen Industry Foothold
Leading companies are focused on the launch of new products to consolidate their foothold in the market. Besides, industry players are also entering partnerships and acquiring other companies. These steps are being adopted for gaining an edge over their competitors.
Key Industry Development:
December 2022 – Coloressence rolled out a new array of rose oil-infused products at the Delhi-based Combo Nation retail store. The brand provides several products, comprising mascaras, lipsticks, kajal pencils, eyeliners, and foundation, among others.
List of Key Players Mentioned in the Report:
Sigma-Aldrich Inc. (U.S.)
Ernesto Ventos SA (Spain)
Alteya Organics LLC (U.S.)
Givaduan SA (Switzerland)
Firmenich International SA (Switzerland)
Symrise AG (Germany)
International Flavors & Fragrances Inc. (U.S.)
MANE FILS SA (France)
Robertat SA (France)
BERJE Inc. (U.S.)
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