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Edited: Dec 02, 2024
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Market Overview
The Rose oil market size growth will be at a rate of 8.19% during the evaluation period (2023 to 2032), says Market Research Future (MRFR). The market value by the end of 2032 should be around worth USD 0.81 billion, expects MRFR.
Market Drivers and Key Restraints
Consumers’ mounting interest in personal grooming and their willingness to explore new brands has resulted in booming sales of products infused with rose oil. Moreover, the soaring demand for beauty and cosmetic products containing natural ingredients like rose oil benefits the global industry as well. The business value is further augmented by the rising prominence of e-retailing. E-retailing plays a significant role in the booming sales of foreign and local brands through online portals.
Attractive packaging has risen as a significant trend, with many of the manufacturers using sustainable and aesthetic packaging to gain the attention of more consumers. Manufacturers are introducing new products like perfumes and personal care products infused with rose oil with appealing packaging. The soaring number of perfume users worldwide should enhance the market share in the years to come.
Most of the contenders are joining hands with popular e-commerce companies to establish their own e-commerce sites. This helps them have a higher consumer reach, particularly in emerging nations where online shopping has picked up significant pace in recent years. Surge in the economic standards of developing regions and the escalating preference for luxury items among consumers will be a striking opportunity for the global vendors as well.