Haitian Vetiver Oil Market Size:
Global Haitian vetiver oil market was valued at US$ XX Mn in 2017 and expected to decline over 2018 to 2024
Vetiver oil is a plant oil, which is also known as the khus oil. It offers an earthy fragrance with reminiscent of patchouli with a touch of lemon. It provides long-lasting fragrance and even acts as natural perfume base owing to its sweet, earthy, and smooth fragrance. It is thick and viscous in nature. Haiti is considered to be the leading producer of the vetiver oil. The oil is light and golden amber colored.
Increase in the demand for vetiver oil from fragrance industry is the key factor anticipated to drive the growth of the Haitian vetiver oil market. Growing awareness among the people regarding the therapeutic properties of the Haitian vetiver oil and its application in pharmaceuticals as sedative, nervine is adding fuel for the growth of the Haitian vetiver oil market. The application of the vetiver oil in the food industry and in the personal care products and soaring use of the vetiver oil in aromatherapy is gaining popularity, which is likely to enhance the growth of the Haitian vetiver oil market over the forecast period. However, the use of the synthetic chemicals in the production of the vetiver is hampering the growth of the market. The high cost involved in the production of vetiver oil is expected to restrain the growth of the Haitian vetiver oil market.
Haitian vetiver oil market is segmented based on the product type, and application
Based on the product type, the market is segmented into the following:
Based on the application, the market is segmented into the following:
- Food and Beverages
- Perfume and Scent Products
Geographically, global Haitian vetiver oil market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe Haitian vetiver oil market is dominant when compared with that of the other regional market. North America trials Europe, owing to its broad use in the pharmaceutical industry due to its properties such as vulnerary, anti-inflammatory, and healing properties. The Asia Pacific is expected to witness a significant growth over the forecast period owing to its growing demand in various applications such as pharmaceutical, food and fragrance industries. Its use as the flavoring agent in the syrups in the pharmaceuticals as the flavoring agent in the various products in the food industry such as milkshakes, ice creams etc. is expected to increase its demand in this region.
Some of the players in the global Haitian vetiver oil market include:
- Robertet Groupe (France)
- Ernesto Ventos SA. (Spain)
- Floracopeia Inc. (U.S)
- Fleurchem Inc. (U.S)
- Haiti Essential Oil Co. (U.S)
- International Fragrance and Flavor Inc. (U.S)
- Lluch Essence Sl. (U.S)
- UniKode S.A (U.S)
Notable Market Developments:
- In July 2016, IFF and Unilever have entered into partnership to improve lives of vetiver farming communities in Haiti.
Key Features of the Report:
- The report covers exhaustive regional information, that includes North America (the USA and Canada), Europe (Germany, France, Italy, UK, Spain, Russia, Poland and Rest of Europe), Asia-Pacific (Japan, China, India, Australia & New Zealand, ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others), South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentian, Venezula, and Rest of Latin America), and Middle East and Africa (Gulf Cooperation Council (GCC) Countries, Israel, South Africa, and Rest of Middle East and Africa)
- The report provides granular level information about the market size, regional market share, historic market (2013-2017) and forecast (2018-2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market