In the worldwide Haitian vetiver oil market, Europe holds a conspicuous offer, for example 34.5% worth portion of the utilization of Haitian vetiver oil. Then again, Europe has minimal offer in the creation of Haitian vetiver oil on the planet. Based on our exploration, the Haitian vetiver oil market is relied upon to develop at a high development rate in the Asia Pacific area, attributable to variables, for example, quick industrialization and expanding worldwide nearness of the key players associated with the restorative and Perfume market, which has made the Haitian vetiver oil market progressively aggressive.
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).
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
