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Rose oil is an essential cosmetic oil made from rose petals, mainly used in aromatherapy to combat stress in individuals and facilitate mind & body relaxation. Rose oil has anti-microbial properties that can help reduce wrinkles, fine lines, and age spots on the skin. The increasing demand for rose oil used in various end-user industries, including cosmetics & fragrances, food & beverages, and the medical industry, favors market expansion.
The increasing use of rose oil in perfumes & scents due to its fragrance will likely trigger product demand worldwide throughout the forecast timeframe. Rose oil is typically employed in skincare and cosmetic product formulations owing to its superior anti-inflammatory properties to improve skin health. Rose oils are also important in various perfumes and scents, fueling the global market growth. According to a blog published by Faith in Nature, a U.K.-based cosmetic products manufacturer, rose oil regenerates cell tissue suitable for all skin types and can keep skin healthy. Such health-related claims regarding rose oil application will likely boost their demand across countries in the forthcoming years.
The novel COVID-19 crisis negatively influenced the global rose oil market throughout 2020, with brick-and-mortar stores' temporary and permanent closure and the establishment of manufacturing restrictions worldwide. According to a report by the United States Department of Agriculture (USDA), the executive body responsible for establishing federal laws associated with food, farming, and forestry, low essential roses production led to a decline of around 40% in the rose oil output in Bulgaria (Europe) in 2020.
As was the case across international markets, the lockdown resulted in a sudden change in consumer preference toward skincare products across European countries, backed by increasing social media influence. Various international brands partnered with bloggers and influencers to promote their products and accelerate sales amid the COVID-19 crisis. For Instance: In 2020, Biossance, a California, U.S.-based skincare brand, collaborated with Aimee Song, a U.S.-based fashion blogger, to promote their limited edition serum made with vitamin C rose oil.
The report will cover the following key insights:
Based on product, the global market is segmented into organic and conventional. The conventional product segment will likely dominate the market throughout the forecast period. The increasing demand for conventional rose oil is attributable to its increasing use across countries in perfume and fragrance manufacturing. Conventional oils are also cheaper than organic oils, accelerating their adoption among middle- and low-income consumers. The organic rose oil segment is expected to grow fastest from 2023-2030 due to the expanding health-conscious customer base across countries. Certified rose oil manufacturers typically gain more popularity for their products than their uncertified counterparts due to the rising adoption of high-quality and premium products across countries.
Based on application, the global market is segmented into fragrances & cosmetics, food & beverages, and others. The fragrances & cosmetics segment will likely dominate the market throughout the forecast period due to the increasing popularity of rose oil-infused floral perfumes in fragrances. Rose oil also finds application in the food & beverage industry as a flavoring agent to make desserts, beverages, and baked goods.
Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, online, and others. The specialty store segment is expected to witness significant growth in the coming years due to the availability of various rose oil products at competitive prices. Companies such as The Body Shop and Sephora focus on opening their flagship shops to build their brand, contributing to the growing popularity of specialty stores. Sales through the online segment have grown exponentially since 2020 due to the increased shopping convenience for individuals amidst social distancing measures globally.
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The global market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe accounted for the most significant global rose oil market share in 2022. The increasing demand for rose oil for therapeutic and medicinal purposes accelerates product adoption across European countries. Turkey and Bulgaria are the main producers of rose oil in Europe and typically export rose oil to France, China, Germany, the U.S., Japan, and Switzerland.
Asia Pacific will witness considerable growth during the forecast period due to the increasing traction of rose oil products in India, China, and other Asian countries. The growing popularity of rose oil in Asian countries is also attributable to the rising opportunities for rose oil in aromatherapy and other medicinal uses.
The report will include the profiles of key players such as Sigma- Aldrich Inc., Ernesto Ventos SA, Alteya Organics LLC, Givaduan SA, Firmenich International SA, Symrise AG, International Flavors & Fragrances Inc., MANE FILS SA, Robertat SA, BERJE Inc., and others.
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