Haitian Vetiver Oil

Haitian Vetiver Oil Market is growing in a crisis-hit business climate on account of high demand from the cosmetics and pharmaceutical sectors

SEATTLE, WA, US, March 10, 2022 /EINPresswire.com/ -- Haitian Vetiver Oil Market is growing in a crisis-hit business climate on account of high demand from the cosmetics and pharmaceutical sectors , In terms of revenue, the global haitian vetiver oil market is expected to surpass US$ 31.0 million by the end of 2027, growing at a CAGR of 1.5 percent over the forecast period (2020 to 2027).

Overview

The Haitian vetiver plant is a stringy, beige-colored perennial grass that grows in a tropical climate. It is used in fragrances and is a multimillion-dollar industry in Haiti, where it is widely used. But as it is a natural product, it is essential to use it with care. The plant must be handled with care, and it should be stored in an airtight container. In the perfume industry, Haitian vetiver oil is a popular ingredient in fragrances and cosmetics. Despite the fact that it has an unknown medicinal value, it has proved to be a natural alternative to synthetic biocides. Notably, it also has fewer side effects, a lower cost of treatment, and no adverse effects.

Competitive Landscape

Major companies contributing to the global Haitian vetiver oil market include UniKode S.A., Lluch Essence Sl, Floracopeia Inc., Ernesto Ventos, S.A., International Flavor and Fragrance, Haiti Essential Oil Co., SA, Fleurchem Inc., Robertet Groupe, and Rager S.A.

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Drivers

Increasing application in cosmetics and aromatherapies in parallel to the growing cultivation of vetiver roots in the Les Cayes region of Haiti is expected to augment the growth of the Haitian vetiver oil market during the forecast period.

Furthermore, growing consumer inclination towards natural ingredients for medicinal applications is expected to supplement the growth of the Haitian vetiver oil market over the forecast period.

Summary of the COVID-19 Aftermath

The inception of the COVID-19 crisis had a ‘bitter-sweet’ impact on the global Haitian vetiver oil market. During the mid-March 2020 timeframe, the market witnessed a significant decline in terms of overall cultivation and availability across the supply chain. On the contrary, the gradual ease in COVID-battered restrictions has sparked a ray of hope among investors and trade prognosticators over the fate of the business.

Key Takeaways

The Haitian vetiver oil market is anticipated to grow at a CAGR of 1.5 % during the forecast period owing to the growing adoption in cosmetic and personal care industries, combined with increasing product launches. For instance, in February 2022, Calvin Klein launched Calvin Klein Defy, a new masculine fragrance prepared from Haitian vetiver oil.

Considering the territorial landscape, the European region is a major destination for the global Haitian vetiver oil market in view of the growing consumer inclination towards healthy and organic food ingredients combined with the growing incidence of heart disorders.

In the runner-up spot, the Asia Pacific region is another profit hub for the global Haitian vetiver oil market on the heels of rising exports of Haitian oil in various countries compounded with growing agricultural expenditure.

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The segmentation analysis includes a descriptive evaluation of the segment, a representation of the market stocks made up of each section, the growth rate of all sections, and the segment's attractiveness in terms of revenue. The regional analysis covers all markets, growth rates for each region, and trends in the segment based on historical data.

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Reasons to Purchase Report:

➸ The paper examines how Haitian Vetiver Oil is likely to grow in the future.
➸ Examine several perspectives on the Haitian Vetiver Oil using Porter's five forces analysis.
➸ The product type that is expected to dominate the Haitian Vetiver Oil market, as well as the regions that are expected to grow the fastest, are investigated.
➸ Recognize the latest advancements, Haitian Vetiver Oil shares, and policies of the leading market participants.
➸ The competitive landscape has included the Haitian Vetiver Oil share of significant firms as well as important development policies adopted in the last five years.
➸ Product offerings, essential financial information, current advancements, SWOT analysis, and strategies are all included in comprehensive company profiles for the major Haitian Vetiver Oil players.

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