Market Research Future (MRFR) expects the growth rate of the global rose oil market to be significant during the forecast period (2018-2023), as the demand for perfumes notes striking boost.
Growth Boosters and Top Challenges
The worldwide Pure Rose Oil Market is set to note sound growth within the cosmetics and toiletries as well as the food & beverage industry. The chief reason for this could be its fragrance and therapeutic effect that adds to its appeal among consumers. Rose oil has gained immense traction, with increasing use in various applications as it boasts of numerous beneficial properties. The market is developing due to the rising use of the product in a variety of creams and massage oils, as it helps calm and rejuvenate the skin. It also aids in maintaining the digestive system, in addition to enhancing liver function. Besides, it is used for preventing bacterial and viral infections which take place internally and externally.
The market also benefits from the increasing focus on research and development (R&D) activities by the industry participants, with the aim of launching innovative products that make use of rose oil. Additionally, these vendors are also striving to make these products visible and accessible to a higher number of customers due to its soothing effects.
Adding to the list of appealing properties, rose oil also acts as an emmenagogue, along with stimulating menstrual cycle. It helps reduce issues of premenstrual syndrome, including vomiting, nausea, weakness and abdominal cramps. These factors have elevated the product demand across the globe in recent years.
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The worldwide market for rose oil has been segmented with respect to type, category and application.
Depending on type, the rose oil market can be considered for rose otto, rose absolute and others. The rose otto segment is believed to accrue the largest revenue in the coming years, establishing its dominance throughout the forecast period. This type of rose oil finds use across diverse applications including fragrances, pharmaceuticals, toiletries, cosmetics, and others owing to their health benefits.
Category-based segments in the market are organic and conventional. Between these, the conventional segment expects to cover the largest share in the global rose oil market based on the massive availability of conventional rose oil which makes it more visible and accessible among consumers.
Application-dependent segments covered by the report are food & beverages, fragrances & perfumes, cosmetics & toiletries, and others. Here, the cosmetics & toiletries segment, with the largest share in the global rose oil market, finds significant application in various make up, personal care and skincare products.
The global rose oil market has been analyzed in the key regions of Europe, Asia Pacific, North America, as well as the rest of the world (RoW).
Europe, with global dominance, is expected to benefit from the presence of large number of rose oil manufacturers. The market growth is also the result of the rising awareness regarding health benefits among consumers. As more and more people in the region suffer from inflammation and infections, along with digestion and blood circulation issues, the demand for rose oil and associated products receives a significant boost as a result.
In Asia Pacific, the spurt in awareness about the health benefits of rose oil along with expanding cosmetic and toiletries industry profits the market. Meanwhile, North America will be demonstrating the highest growth rate among all the region backed by the massive preference for latest products and the desire to experiment in the name of beauty and aesthetic appeal.
The prominent vendors in the worldwide rose oil market include International Flavors & Fragrances Inc. (US), Sigma-Aldrich, Inc. (US), Symrise AG (Germany), BERJÉ INC. (Switzerland), V. MANE FILS SA (France), Robertet SA (France), Firmenich International SA (Switzerland), Ernesto Ventos SA (Spain), Givaudan SA (Switzerland), Alteya Organics, LLC (US), among others.
June 2019 Chopard has collaborated with the Firmenich Naturals Together Program to launch a fragrance called the Rose de Caroline. The primary ingredients are Bulgarian rose essential oil along with cinnamon and patchouli.
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