On the basis of a recently published report by Transparency Market Research, titled, 'Haitian Vetiver Oil Market: Global Industry Analysis and Opportunity Assessment 2018-2027', the overall revenue generated from the Haitian vetiver oil market is anticipated to be valued at somewhere around US$ 21.9 Mn in 2018, which is expected to rise at a CAGR of 2.4% throughout the forecast period (2018-2027).
In the global Haitian vetiver oil market, Europe holds a prominent share, i.e. 34.5% value share of the consumption of Haitian vetiver oil. On the other hand, Europe has the least share in the production of Haitian vetiver oil in the world. On the basis of our research, the Haitian vetiver oil market is expected to grow at a high growth rate in the Asia Pacific region, owing to factors such as rapid industrialization and increasing global presence of the key players involved in the cosmetic and Perfume market, which has made the Haitian vetiver oil market more competitive.
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Haitian vetiver oil Market: Competition Landscape
TMR has profiled some of the prominent companies active in the Haitian vetiver oil market, such as Albert Vieille SAS, Unicode S.A., Vigon International, Texarome Inc., Ananda, LLC, Berje Inc., Jedwards International, Inc., Haiti Essential Co Ltd., Givaudan SA, Fleurchem, Inc., Floracopeia Inc., Ernesto Ventós, S.A., Robertet Groupe, Frager S.A. and others.
Increasing Use of Haitian Vetiver Oil in Aromatherapy
Haitian vetiver oil extensively used in aromatherapy, owing to its excellent benefits on mental health. Haitian vetiver oil has most potently acting on the nervous system, having both sedating and strengthening effects on the nervous system. Haitian vetiver is excellent in treatment such as nervous tension, depression, debility, and insomnia.
In addition, Haitian vetiver oil is also acting as an aphrodisiac, which have a direct connection between alleviating stress-related problems. In addition, it is also used in massage oil, where it acts as a stimulator for the circulatory system and also aids in increasing red blood cells count among the anemic patients. On the other hand, it is also blended with sports oil, where it helps in relieving muscular aches, sprains, and pains.
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Growing Preference for Niche Fragrance over Conventional Favoring Rising Demand for Vetiver Oil
In the global fragrance industry, the niche fragrance segment is escalating at a high growth rate, owing to the increasing demand for artisanal fragrance among the consumers. Niche products are made with natural and exotic ingredients and produced in smaller quantities by small companies.
According to International Flavors and Fragrances (IFF) a leading player of the fragrance market, along with very-premium fragrance category artisanal brands are showing more growth than the middle market brands. In the global fragrance industry, the demand for Haitian vetiver oil market is increasing at good growth rate owing to its woody and earthy fragrance which is attracting the consumers seeking for natural fragrance. Haitian vetiver oil is blended in different compositions with a different essential oil such as pepper, bergamot, and others to generate a strong natural fragrance.
Haitian Vetiver Oil Market: Segmentation
The subsequent sections analyze the global Haitian vetiver oil market on the basis of nature, grade, end user and region, and presents a forecast for the period 2018–2027. The market is segmented as follows:
- Food Grade
- Industrial Grade
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Natural Beauty Products and Beauty Treatments Witness Rise in Haitian Vetiver Oil Usage
Haitian vetiver oil is highly beneficial to one's health and safety; it has therapeutic and medical benefits on both the skin and the nervous system. Since Haitian vetiver oil has therapeutic potential in a variety of skin and nerve issues, it is employed in a variety of beauty products and skin treatments. Many of the concerns associated with skin can be addressed using Haitian vetiver oil include the removal of skin defects, acne, and pimples. Due to its antibacterial, tonic, and detoxifying characteristics, Haitian vetiver oil has potential in skincare, particularly for sensitive skin.
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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