Growing usage of vetiver oil in aromatherapy, increasing awareness regarding the therapeutic properties of Haitian vetiver oil, rising demand for the oil in perfumes and scents and its medicinal properties are some of the factors propelling the market growth.
Global Haitian Vetiver Oil market is expected to grow from $XX million in 2016 to reach $XX million by 2023 with a CAGR of XX%.
The application for Haitian Vetiver Oil in Personal care products is expected to create huge opportunities for the market in the future. However, the easy availability of alternatives will hinder the market growth.
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Vertiver oil is also used in traditional medicine owing to its healing and protection properties. South Asia, West Africa and Southeast Asia are the regions where this oil is mostly used in medicines.
Its natural body cooling property makes it’s the most popular oil in the tropical countries where there is much humidity. It is used to treat heat strokes, joint disorders, skin problems and also gives relief from anxiety and nervousness.
Recent research on Vertiver oils proved that it can improve the brain activity and reduce the symptoms of Attention-deficit/hyperactivity disorder (ADHD).
By Application, the Perfume and Scent Products segment is the largest market due to rising demand for the oil in perfumes and scents. The oil acts as an excellent fixative for volatile compounds and its cooling properties in blended perfumes.
Vertiver perfumes give pleasing aroma and has slow evaporation rate. This oil is the basis of the Indian perfume ‘Majmua’ and is the major ingredient for almost all the western perfumes such as Parure, Caleche, Chanel No.5, Dioressence and Opium.
In addition, no synthetic substitute is available as of yet, which makes this raw material a unique resource in perfumery. Also the demand for this oil as a flavoring agent in the coming years would increase its growth in the Food & Beverages products.
Geographically, Europe holds the largest market share due to its demand for essential oils from Germany.
Some of the key players in the Haitian Vetiver Oil market are Fleurchem Inc, International Fragrance and Flavor Inc, Robertet Groupe, Lluch Essence SL, Ernesto Ventos SA, UniKode S.A, Floracopeia Inc, Frager S.A and Haiti Essential Oil Co. SA.
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Applications covered: Food and Beverages Perfume and Scent Products Pharmaceuticals Other Applications
Products covered: Organic Conventional
Regions Covered: North America
Rest of Europe Asia Pacific
Rest of Asia Pacific South America
Rest of South America Middle East & Africa
Rest of Middle East & Africa
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