The shortage of Chinese ingredients, raw materials, and semi-finished goods is the latest example of the global economy’s dependence on products made in China, from iPhones to auto parts to pharma. Much of the fallout may still be hidden and is likely to play out over months. Even before the coronavirus outbreak, business investment was already in poor health in the United States. It fell in the last three quarters of 2019. Some analysts now expect more companies could soon announce reductions in their capital spending.
Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Rose Oil market.
Trusted Business Insights presents an updated and Latest Study on Rose Oil Market 2019-2030. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Rose Oil market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Rose Oil Market
The global rose oil market size was valued at USD 278.7 million in 2018 and is estimated to expand at a CAGR of 6.8% for the forecast period. The market is driven by increasing consumer preference for the natural and organic ingredients in their day-to-day products. Moreover, antispasmodic, antidepressant, and anti-bacterial properties of the rose oil make it a harmless and safe alternative to allopathic solutions. The product also provides calmness and relaxation due to its pleasing rose scents.
Shifting consumer preference from the synthetic skin care products to the trusted herbal items for healthy skin has driven the consumption of rose oil in the market. Usage of the rose oil as an active ingredient in cosmetic products is preventing various skin problems, thereby attracting a large number of consumers in the industry. The product is used to cure various problems from skin irritation to depression, which is driving its demand among various end users. The antioxidant property present in this oil helps in reducing the signs of aging skin.
The rose oil helps to provide an even tone complexion by diminishing redness from skin. Moreover, its property to reduce and tackle inflammation to skin makes it more preferable among the consumers. The product is mostly preferred by the consumers having dry and sensitive skin as the product helps to sooth and moisturize the skin for a longer period. The above-mentioned factors are beneficial for the skin sensitive population, thereby driving the sales of the product. Rise in disposable income among consumers to purchase skin care products irrespective of cost factor is anticipated to impact the growth of the rose oil market in the coming years.
Rise in spending on the personal care products in the developing and emerging countries provides a growth opportunity for the market. However, large cultivation of different species of rose producing oil is concentrated in some countries only such as Bulgaria, Turkey, and China, thereby making most of the countries to be dependent on import only. In addition, high cost of the product as compared to other types of essential oils is anticipated to hamper the demand for the rose oil over the forecast period.
Product Insights of Rose Oil Market
Conventional products accounted for the largest share of 83.8% in the year 2018. The segment is driven by continuous demand for the rose oil cultivated by conventional method in the production of fragrances and perfumes. These aromatic products are usually used to provide a pleasing aroma to the environment and thus they dont have any side effect on skin. Since the price of conventional oil is much cheaper than the organic one, hence manufacturers prefer to use this oil as their basic ingredients. Moreover, the product works well as an ingredient when mixed with other essential oils present in the market. For instance, rose oil and lavender oil combination provides the consumers a healthy state of mind, along with an emotional and mental wellbeing.
Organic rose oil is the fastest growing segment, expanding at a CAGR of 8.7% from the year 2019 to 2025. Rising demand for organic products in the cosmetic sector is anticipated to boost the growth of the market. Consumers prefer herbal products for their skin use. In addition, the organic certifications in the rose oil will help the manufacturers to target some of the leading brands in the organic cosmetic industry, thereby increasing its market demand.
Application Insights of Rose Oil Market
Fragrance and cosmetics accounted for the largest share of 70.1% in the year 2018. Growth in the sales is attributed to rising consumers preference to use perfumes with floral and fruity notes. Growth of the fragrance market is likely to support the growth of this product. Various luxury brands are also offering scents in rose texture to attract mostly women consumers. Demand for rose oil is also witnessed in the production of other aromatic room fresheners such as candles, sticks, and gels. The multi-functional properties of the product is increasing its demand as an ingredient in various cosmetics and skin care products. In addition, increased use of rose oil in the treatment of various skin problems is expected to drive its demand in the global market.
Pharmaceutical is the fastest growing application segment, expanding at a CAGR of 9.9% over the forecast period. Use of this oil in the pharma industry is increasing due to its antibacterial, antidiabetic, and antioxidant properties. Moreover, higher shelf life of the product has increased its acceptance for formulation of pharmaceutical products in the market. The presence of a number of chemical compounds in the rose oil helps to stimulate the healing and wellness of the body. In addition, the product helps to prevent a number of diseases such as acne, heart disease, skin diseases, ulcers, and cancer by purifying the toxin level in the body.
Regional Insights of Rose Oil Market
In terms of value, Europe held the largest share of 40.2% in the year 2018. Europe is the largest market for natural fragrance ingredients. Growing demand for products manufactured from natural ingredients and oils is boosting the demand for this oil among consumers. Moreover, presence of the leading manufacturers of cosmetic products in countries such as France, Germany, and U.K. is anticipated to increase the sales of the rose oil over the forecast period.
Asia Pacific is expected to register the highest CAGR of 8.0% over the forecast period on account of rising sales of pharmaceutical products in countries such as China, Australia, India, and Japan. The pharmaceutical industry in Asia Pacific for prescription drugs and over-the-counter (OTC) medicines is growing, which will also affect the sales of this product in the market. Moreover, increasing use of herbal products for various skin issues in the region is driving the use of the product, thereby boosting the market growth in the region.
Market Share Insights of Rose Oil Market
Shift of the production facilities towards higher consumer base countries such as China and Japan to decrease the import duty on products is the latest trend observed in the market. The market is identified by several strategic activities such as acquisitions and mergers, product innovations, and capacity expansion. Key manufacturers in the industry include Sigma-Aldrich, Inc.; Ernesto Ventos SA; Alteya Organics, LLC; Givaudan SA; Firmenich International SA; Symrise AG; V. MANE FILS SA; Robertet SA; International Flavors & Fragrances Inc.; and BERJÃ‰ INC. Production of raw material for rose oil is highly concentrated around Bulgaria and Turkey. Hence, the competition is very limited from the supply side of the market.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Rose Oil Market Research Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global rose oil market report on the basis of product, application, and region:
Product Outlook (Revenue, USD Million, 2019 – 2030)
Application Outlook (Revenue, USD Million, 2019 – 2030)
Fragrance & Cosmetics
Food & Beverages
Quick Read Table of Contents of this Report @ Rose Oil Market Research Report 2020 | Industry Report, Industry Analysis, Key Players, Trends, Revenue, Regional Segmented, Outlook Until 2030
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