Global Haitian Vetiver Oil Market Volume to Reach 112.6 Metric Tons (MT) by 2024 – TMR

ALBANY, New York, May 16, 2017 (PR Newswire Europe via COMTEX) — ALBANY, New York, May 16, 2017 /PRNewswire/ —

Transparency Market Research (TMR) delivers key insights on the global vetiver oil market in its upcoming outlook titled, “Haitian Vetiver Oil Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2024”. In terms of volume, the global vetiver oil market is projected to register a CAGR of 1.5% during the forecast period due to various factors, regarding which TMR offers vital insights in detail.

On the basis of product type, the market is segmented into conventional, and organic vetiver oil. Increasing consumer interest in product quality and safety in markets of developed and developing countries, especially in countries in Europe. Consumers in countries such as Germany and France in particular are interested in the traceability of the various raw materials used in food and beverage products. Increasing focus on the origin of raw material is because of the high use of synthetic chemicals in the agriculture sector in certain developing countries. Additionally, increased demand from fragrance industry, growing demand for vetiver oil as flavoring agent in food industry are some of the factors driving growth of the vetiver oil market.

The increasing use of vetiver oil in the aromatherapy due to its convenience, safe and established use as historical therapeutic oil in eastern countries. Furthermore its therapeutic properties such as anti-inflammatory and antiseptic properties are anticipated to aid the demand growth for vetiver oil during the forecast period.

Vetiver oil is one of the essential raw materials widely used in the global fragrance industry, and Haiti is known for best quality of vetiver oil. The oil is one of the finest oriental perfumes with a persistent fragrance. In blended perfumes, oil of vetiver acts as an excellent fixatives for volatile compounds. It is known for its cooling properties. It is also used as tonic, nervine, and sedative and offers benefits to patients suffering from rheumatism, arthritis, gout, muscular aches, dryness, and cracking of the skin. These factors in turn are anticipated to increase demand for vetiver oil during the forecast period.

This report covers trends driving each segment and offers analysis and insights of the potential of the vetiver oil market in specific regions. Asia Pacific, Europe and North America are expected to register high growth rates between 2016 and 2024. APAC accounted for 4.7% volume share in 2016 and is expected to gain 40 BPS to account for 5.1% volume share by 2024. In terms of volume, market share of North America is expected to decrease substantially over the forecast period, due to higher dependency on outer sources for growing vetiver.

The market for Haitian vetiver oil is highly fragmented with many small-scale regional players. This creates an opportunity for multinational players to establish their foothold in the Haitian vetiver oil market and improve their distribution and value chain for the target product. High profit margins also attracts new players into the market. On the backdrop of continuous increase in demand for Haitian vetiver oil from fragrance, food & beverages, pharmaceutical and personal care products industry, existing major distributors can include Haitian vetiver oil in their product portfolio and stimulate growth of the global Haitian vetiver oil market over the forecast period.

Key players in the global vetiver oil market include; International Fragrance and Flavor Inc., Lluch Essence Sl, UniKode S.A., Frager S.A., Robertet Groupe, Ernesto Ventos Sa, Floracopeia Inc., Fleurchem Inc., Haiti Essential Oil Co., SA.

The global Haitian vetiver oil market is segmented into:

By Products

- Conventional - Organic

By Application

- Perfume and Scent Products - Pharmaceuticals - Food and Beverages - Others

By Region

- North America - Latin America - Europe - Asia Pacific - Middle East and Africa

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