According to IMARC Group’s latest report, titled “Rose Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global rose oil market exhibited moderate growth during 2015-2020. Rose oil refers to an essential oil extracted from the petal of roses. It is obtained through processes such as steam distillation, solvent extraction, and supercritical carbon dioxide extraction. The oil comprises of essential chemical components, such as geraniol, linalool, citronellol, geranyl acetate and eugenol. As a result, it is widely used for aromatherapy, medical, and skincare applications. Moreover, rose oil is also used in the manufacturing of perfumes and is more functional than other essential oils.
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The global rose oil market is primarily driven by rapid urbanization and the increasing consumer preferences for aromatic essential oils. Furthermore, the growing prevalence of chronic medical ailments, such as arthritis, asthma, gout, irritable bowel syndrome (IBS) and gastroesophageal reflux disease (GERD), is also propelling a positive outlook on the market. Rose oil also has anti-inflammatory, acne-preventing, anti-aging, moisturizing, rejuvenating, stimulating and skin healing properties. Additionally, several product innovations, such as the introduction of herbal and organic variants, are acting as other growth-inducing factors. Besides this, aggressive promotional activities through social media platforms and online retail channels, along with the rising expenditure capacities of the consumers, are expected to further strengthen the market growth in the coming years. Looking forward, IMARC Group expects the global rose oil market to grow at a CAGR of around 6% during the forecast period (2021-2026).
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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