Haitian Vetiver Oil Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030
The Global Haitian Vetiver Oil Market Size accounted for USD 24.0 Million in 2021 and is estimated to achieve a market size of USD 30.6 Million by 2030 growing at a CAGR of 2.8% from 2022 to 2030. Growing demand from the fragrance sector is a major driver of the Haitian vetiver oil market value. Furthermore, the rising popularity of aromatherapy as an alternative to conventional allopathic treatments is likely to boost the Haitian vetiver oil market growth.
Haitian Vetiver Oil Market Report Key Highlights
- Global haitian vetiver oil market revenue is expected to increase by USD 30.6 Million by 2030, with a 2.8% CAGR from 2022 to 2030
- Europe region led with more than 68% of haitian vetiver oil market share in 2021
- Asia-Pacific haitian vetiver oil market growth will observe strongest CAGR from 2022 to 2030
- By nature, the organic segment has accounted market share of over 61% in 2021
- By end-use industry, perfume product segment engaged more than 54% of the total market share in 2021
- Rising demand from the food and beverages industry, drives the haitian vetiver oil market size
Vetiver oil is plant oil, which is otherwise called khus oil. It offers a natural aroma with significant patchouli with a dash of lemon. It gives a durable aroma and even goes about as a regular scent base inferable from its sweet, natural, and smooth aroma. It is thick and gooey in nature. Haiti is viewed as the main maker of vetiver oil and later named Hetian Vetiver Oil. The oil is light and brilliant golden shaded in nature. Haitian vetiver oil is light to dim darker, golden gooey oil inspiring hearty, woody, and profound smoky scent with a persevering sweet hint. Haitian vetiver oil is extricated from vetiver grass, which is an enduring bunchy herbaceous grass and has a broad stringy root. The underlying foundations of vetiver grass are advanced with fragrant basic oils, which are widely utilized in aromas, fragrance-based treatments, beauty care products, and nourishment and enhancement enterprises.
Global Haitian Vetiver Oil Market Trend
Market Drivers
- Growing demand for Haitian vetiver oil from the fragrance sector
- Rising demand from the food and beverages industry
- Increased consumption of Haitian vetiver oil among health-conscious people globally
- Increasing influence of aromatherapy as an ideal alternative to traditional allopathic solutions
Market Restraints
- Increasing use of synthetic chemicals in vetiver production
- High cost involved in the production of vetiver oil
Market Opportunities
- Growing use in several cosmetic procedures and personal care products
- Rising tendency toward organic ingredients
Haitian Vetiver Oil Market Report Coverage
| Market | Haitian Vetiver Oil Market |
| Haitian Vetiver Oil Market Size 2021 | USD 24.0 Million |
| Haitian Vetiver Oil Market Forecast 2030 | USD 30.6 Million |
| Haitian Vetiver Oil Market CAGR During 2022 - 2030 | 2.8% |
| Haitian Vetiver Oil Market Analysis Period | 2018 - 2030 |
| Haitian Vetiver Oil Market Base Year | 2021 |
| Haitian Vetiver Oil Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Nature, By Grade, By End-use Industry, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Albert Vieille SAS, Vigon International, Ananda, LLC, Jedwards International, Inc., Haiti Essential Co Ltd., Givaudan SA, Fleurchem, Inc., Floracopeia Inc., Ernesto Ventós, S.A., Robertet Groupe, Unicode S.A., Berje Inc., Texarome Inc., and Frager S.A. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Haitian Vetiver differs in aroma relying on where it is grown (soil type, nation, and so forth.), also called vetivert, khus, or khus-khus, Vetiver has a drawn-out history of utilization and is well known as the Oil of Tranquility. Vetiver oil is additionally utilized in customary medication inferable from its mending and assurance properties. South Asia, West Africa, and Southeast Asia are where this oil is for the most part utilized in drugs. Its common body cooling property makes it the most famous oil in tropical nations where the humidity is high. It is utilized to treat heat strokes, joint issues, and skin issues and furthermore gives help from tension and apprehension.
The growing use of vetiver oil in various industries such as aromatherapy, food & beverages, etc., expanding awareness in regards to the remedial properties of Haitian vetiver oil, growing demand for the oil in aromas and fragrances and its therapeutic properties are some factors driving the market growth. The application of Haitian Vetiver Oil in beauty and personal care products is projected to create various potential opportunities for the market in the near future. However, the easy accessibility of substitutes will hamper the market growth.
Haitian vetiver oil is broadly utilized in fragrance and aromatherapy, due to its astounding advantages on mental wellness. Haitian vetiver oil most strongly follows up on the nervous system, having both quieting and reinforcing impacts on the nervous system. Haitian vetiver is superb in treatment, for instance, debility, depression, nervous tension, and insomnia. Moreover, Haitian vetiver oil is additionally going about as an aphrodisiac, which has an immediate association with easing pressure-related issues. It is additionally utilized in back rub oil, where it goes about as a trigger for the circulatory framework and furthermore helps in expanding red platelets consider a real part of the patients of anemic. Additionally, it is likewise mixed with sports oil, which helps in diminishing solid throbs, sprains, and torments.
Haitian Vetiver Oil Market Segmentation
The global haitian vetiver oil market segmentation is based on nature, grade, end-use industry, and geography.
Haitian Vetiver Oil Market By Nature
- Organic
- Conventional
According to a Haitian vetiver oil industry analysis, the organic segment is dominating the market over the projected timeframe. This is attributable to an increase in the number of health-conscious people. Expanding retail chains, as well as rising consumption of organic care products, is expected to boost the market for Haitian vetiver oil. Furthermore, rising consumer desire for natural healing treatments is expected to fuel market expansion.
Haitian Vetiver Oil Market By Grade
- Food Grade
- Industrial Grade
In terms of grades, the food grade segment held a significant market share in 2021. Haitian vetiver oil is accessible in sustenance grade and mechanical evaluation, in which food-grade Haitian vetiver oil is utilized in the food and beverage sector as an additive. Haitian vetiver oil of industrial grade is broadly utilized in the cosmetic and fragrances industry attributable to its different skin advantages, for instance, moisturization, assurance, and astringent properties with a dazzling fragrance. The properties of Haitian vetiver oil make them one of the great decisions for the manufacturers of cosmetics to utilize in anti-aging personal care products, where it gives profound moisturization to the skin.
Haitian Vetiver Oil Market By End-use Industry
- Food & Beverages Processing
- Perfume Products
- Aromatherapy
- Pharmaceutical
According to the Haitian vetiver oil market forecast, the perfume product category is predicted to rise rapidly in the market during the predicted years. Due to its cooling qualities and ease of blending with perfumes, vetiver oil is commonly employed in the creation of perfumes and scents. It is the primary component in all fragrance perfumes, particularly those marketed to men. As a result, the growing demand from the fragrance sector is primarily responsible for the expansion of the Haitian vetiver oil market.
Haitian Vetiver Oil Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Europe Dominates The Global Haitian Vetiver Oil Market
Geographically, the Europe region leads the global Haitian vetiver oil market. This is due to the increased preference for aromatherapy as a natural healing therapy, as well as the tendency of consumers toward home healthcare and organic personal care products, which may motivate industry growth, which will further support the growth of the regional Haitian vetiver oil market during the forecast period. The global Haitian vetiver oil market is expected to grow rapidly in the Asia Pacific region, owing to factors such as rapid industrialization and the rising global presence of important players in the perfume and cosmetic sector, which has made the Haitian vetiver oil market more competitive.
Haitian Vetiver Oil Market Players
Some of the top haitian vetiver oil market companies offered in the professional report include Albert Vieille SAS, Vigon International, Ananda, LLC, Jedwards International, Inc., Haiti Essential Co Ltd., Givaudan SA, Fleurchem, Inc., Floracopeia Inc., Ernesto Ventós, S.A., Robertet Groupe, Unicode S.A., Berje Inc., Texarome Inc., and Frager S.A.
Frequently Asked Questions
What is the size of global haitian vetiver oil market in 2021?
The estimated value of global haitian vetiver oil market in 2021 was accounted to be USD 24.0 Million.
What is the CAGR of global haitian vetiver oil market during forecast period of 2022 to 2030?
The projected CAGR haitian vetiver oil market during the analysis period of 2022 to 2030 is 2.8%.
Which are the key players operating in the market?
The prominent players of the global haitian vetiver oil market are Albert Vieille SAS, Vigon International, Ananda, LLC, Jedwards International, Inc., Haiti Essential Co Ltd., Givaudan SA, Fleurchem, Inc., Floracopeia Inc., Ernesto Ventós, S.A., Robertet Groupe, Unicode S.A., Berje Inc., Texarome Inc., and Frager S.A.
Which region held the dominating position in the global haitian vetiver oil market?
Europe held the dominating haitian vetiver oil market during the analysis period of 2022 to 2030.
Which region registered the fastest growing CAGR for the forecast period of 2022 to 2030?
Asia-Pacific region exhibited fastest growing CAGR for haitian vetiver oil market during the analysis period of 2022 to 2030.
What are the current trends and dynamics in the global haitian vetiver oil market?
Increasing growing use of haitian vetiver oil in various industries such as aromatherapy, and food & beverages drives the growth of global haitian vetiver oil market.
By nature segment, which sub-segment held the maximum share?
Based on nature, organic segment is expected to hold the maximum share of the haitian vetiver oil market.
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