17-May-2023 | Zion Market Research
The global rose oil industry size was nearly $12.1 Billion in 2022 and is anticipated to surge to approximately $24.3 Billion by 2030 along with recording the highest growth rate of nearly 11.1% from 2023 to 2030.
Rose oil is extracted from the petals of various kinds of roses. Reportedly, rose oil finds a slew of applications in aromatherapy, personal care & cosmetic industry, and perfumes. Moreover, the growing demand for naturopathy and the use of rose oil in naturopathy for curing anxiety, repetitive stress disorder, depression, menopausal symptoms, and migraine pain has enhanced the popularity of rose oils. Furthermore, skin care products consist of rose oils that help in dry skin hydration, clearing of acne, reduction in aging signs, and reducing scars, eczema, & rosacea on the skin.
Ability of rose oil to effectively cure inflammation and redness on the skin will contribute majorly toward the growth of the global rose oil market. In addition to this, users who have dry and sensitive screens prefer rose oil as it helps them in moisturizing their skin for a long period. This factor will enhance the growth of the global market. Increase in the per capita income of the customers has resulted in massive purchases of skincare products, thereby incrementing the growth of the market across the globe.
Nevertheless, high product costs can put brakes on the growth of the global rose oil industry. Rise in flexible packaging charges is likely to hinder the global industry surge. However, a prominent application of rose oil in food & beverages and cosmetics and the launching of new products has produced new growth opportunities for the global industry, thereby offsetting the impact of hindrances on the global industry expansion.
The application segment of the global rose oil market is sub-divided into fragrance & cosmetics, pharmaceuticals, and food & beverages segments. Furthermore, the pharmaceuticals segment is projected to record the fastest CAGR of 10.1% in the coming years. The segmental expansion over 2023-2030 can be subject to the antidiabetic, antibacterial, and antioxidant features of the product. Moreover, the long shelf life of the product has enhanced the adoption of the product in the pharmaceutical sector. For the record, rose oil improves the healing and wellness of the body. In addition to this, the product helps in preventing a large number of diseases including ulcers, acne, heart disorders, skin diseases, and cancer by reducing toxins in the body.
On the basis of product, the rose oil industry across the globe is sectored into organic and conventional segments. Moreover, the organic segment is anticipated to register the fastest CAGR of 9.7% in the upcoming years. Rising demand for organic rose oil in the cosmetic sector will embellish the segmental growth. Furthermore, customers prefer herbal products for use on the skin, thereby driving segmental growth.
Furthermore, the European continent, which contributed for nearly 40% of the global rose oil market share in 2022, is projected to dominate the regional market surge over the forecast timeline. The regional market expansion over 2023-2030 is owing to the growing use of organic ingredients and oils in the cosmetics & personal care sector in the countries such as the UK, France, Germany, and Italy. In addition to this, the presence of giant players in Europe has enhanced the market profitability in the continent.
Browse the full “Rose Oil Market By Product (Organic and Conventional), By Application (Fragrance & Cosmetics, Pharmaceuticals, and Food & Beverages), and By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030.” Report at https://www.zionmarketresearch.com/report/rose-oil-market
Key players in the global rose oil industry include:
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