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.
The increasing demand for Haitian
vetiver oil in various aromatherapies among the health-conscious population is
also fueling the demand for Haitian vetiver oil in the essential oil market.
Many food manufacturers and pharmaceutical companies are very keen on using
Haitian vetiver oil in their products and recipes. With the increasing demand
for Haitian vetiver oil over the past few decades, it can be expected that the
demand for Haitian vetiver oil will increase over the forecast period.
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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.
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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.
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.
This report comprises detailed insights into the
current market drivers, trends, and opportunities that are driving the Haitian
vetiver oil market over the forecast period. The report also consists of the
competitive landscape of many key players involved in the Haitian vetiver oil
market in a comprehensive and comparative dashboard. In addition, the latter
part of the report also consists of recent developments, key strategies, and
key offerings in the market.
