The global vetiver oil market is expected to experience steady growth in the coming years, driven by increasing demand from the fragrance and flavor industries. Vetiver oil is widely used in perfumes, colognes, and personal care products due to its earthy and woody aroma. The rise of the natural and organic personal care products market has also contributed to the growth of the vetiver oil market. However, factors such as the availability of synthetic alternatives, the high cost of production, and limited awareness of the benefits of vetiver oil among consumers could hamper market growth. Additionally, sustainable and ethical sourcing practices are becoming increasingly important to consumers, creating opportunities for companies that prioritize these values in their supply chain.
Global Vetiver Oil Market was valued at US$ 73.76 Million in 2021 in terms of revenue, exhibiting a CAGR of 7.60% during the forecast period (2022 to 2030).
Top Companies in the Vetiver Oil Industry:
1. International Fragrance and Flavor Inc. (IFF)
International Fragrance and Flavor Inc. (IFF) was founded in 1958 and is headquartered in New York, USA. It operates in over 100 countries and is one of the leading companies in the fragrance and flavor industry. In recent developments in the field of vetiver oil, IFF launched a new sustainable vetiver oil called "VertiveraTM" in September 2021, which is sourced from smallholder farmers in Haiti.
2. Lluch Essence SL
Lluch Essence SL was founded in 1968 and is based in Barcelona, Spain. The company operates in more than 60 countries and specializes in the production of natural fragrances and flavors. In the field of vetiver oil, Lluch Essence SL introduced a new line of organic and sustainably sourced vetiver oil in October 2021.
3. UniKode S.A.
UniKode S.A. is a Chilean company founded in 2004 that specializes in the development and production of natural ingredients for the fragrance and flavor industry. The company operates in several countries, including Brazil, Mexico, and Peru. In the field of vetiver oil, UniKode S.A. announced the launch of a new line of vetiver oil products in November 2021, which are sourced from sustainable farms in India.
4. Frager S.A.
Frager S.A. was founded in 1958 and is based in Buenos Aires, Argentina. The company operates in several countries in Latin America and is a leading supplier of fragrance and flavor ingredients. In recent developments in the field of vetiver oil, Frager S.A. announced the launch of a new line of sustainably sourced vetiver oil in July 2021.
5. Robertet Group
Robertet Group is a French company founded in 1850 that specializes in the production of natural fragrance and flavor ingredients. The company operates in more than 50 countries and has a global presence in the industry. In the field of vetiver oil, Robertet Group announced the launch of a new line of organic vetiver oil products in December 2021.
6. Ernesto Ventos S.A.
Ernesto Ventos S.A. is a Spanish company founded in 1956 that specializes in the production and distribution of fragrance and flavor ingredients. The company operates in several countries, including the USA and Brazil. In the field of vetiver oil, Ernesto Ventos S.A. announced the launch of a new line of sustainable vetiver oil products in August 2021.
7. Floracopeia Inc.
Floracopeia Inc. is an American company founded in 2007 that specializes in the production and distribution of organic and sustainably sourced essential oils. The company operates in several countries and is committed to promoting sustainable and ethical practices in the industry. In the field of vetiver oil, Floracopeia Inc. launched a new line of vetiver oil products in June 2021, which are sourced from sustainable farms in Haiti.
8. Fleurchem Inc.
Fleurchem Inc. is a New Jersey-based company founded in 1982 that specializes in the production of fragrance and flavor ingredients. The company operates in several countries, including China and India. In recent developments in the field of vetiver oil, Fleurchem Inc. announced the launch of a new line of sustainably sourced vetiver oil products in September 2021.
9. Haiti Essential Oil Co. S.A.
Haiti Essential Oil Co. S.A. is a Haitian company founded in 2013 that specializes in the production and export of essential oils, including vetiver oil. The company operates in several countries and is committed to promoting sustainable and ethical practices in the industry. In recent developments, Haiti Essential Oil Co. S.A. partnered with IFF to launch a new sustainable vetiver oil called "VertiveraTM" in September 2021.
*Definition- Vetiver oil is an essential oil derived from the roots of the vetiver plant. It is widely used in perfumes, colognes, and personal care products for its earthy and woody aroma. Vetiver oil also has various therapeutic properties and is used in aromatherapy.
