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The global citrus oil market is anticipated to witness rapid growth during the forecast period, due to increasing demand for natural products and ingredients across the globe. The versatility offered by citrus oils to get utilized for different application is another significant reason that is expected to contribute to its escalated demand during the forecast years.
Key companies operating in the global citrus oil market are focusing on innovative product launches and product portfolio expansion to maintain their market prominence. Symrise AG, Mountain Rose, Inc., and Young Living Essential Oils LC are some of the key companies performing in the global citrus oil market.
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Citrus oil is obtained from the fruit skin of citrus fruits, such as lemon, orange, grapefruit, sweet lime, and others. Citrus oils are rich in nutritional content and have immune-boosting, stress-relieving, and antioxidant properties. Citrus oils are one of the widely used types of essential oils. They are used for various industrial purposes, such as flavoring agents, fragrances in apparel and cleaning products, and others.
Increasing demand for plant extracts and natural ingredients in food & beverage products to be used as flavorants, colorants, and others is projected to aid the growth of the global citrus oil market during the forecast period. Increasing recognition of citrus oil as a functional food ingredient is projected to boost the growth of citrus oil market in the forthcoming years. Furthermore, desirable fragrances and healthy aspects related to citrus oil are anticipated to propel their demand in the cosmetics industry, which in turn is expected to propel the market growth of citrus oil.
The high price of most of the citrus oils is expected to hamper the market growth during the forecast years. Furthermore, the perishable nature of citrus oil is another major restraining factor that can affect the market growth of citrus oil market negatively in the forthcoming years.
Some of the major companies that are present in the citrus oil market are Citrus and Allied Essences Ltd., Bontoux S.A.S., Mountain Rose, Inc., Lionel Hitchen Limited, Symrise AG, Young Living Essential Oils LC, Plant Therapy, Inc., doTERRA International LLC, Moksha Lifestyle Products, and, Farotti Essenze Rimini among the other players operating in the global citrus oil market.
By Oil Type
· Lemon Oil
· Orange Oil
· Bergamot Oil
· Grapefruit Oil
· Food & Beverage
· Personal Care & Cosmetics
· North America (USA, Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of ME&A)
On the basis of oil type, the global citrus oil market has been segmented into lemon oil, orange oil, bergamot oil, grapefruit oil, and others. Orange oil segment is projected to dominate the global citrus oil market owing to the easy availability of raw material, coupled with the product’s inexpensive nature. High blending efficiency and desirable aroma of orange citrus oil are projected to increase its demand for various applications, which will further boost the segment’s demand during the forecast period.
On the basis of application, the global citrus oil market has been segmented into food & beverage, personal care & cosmetics, pharmaceuticals, aromatherapy, and others. The application of citrus oil in food & beverage segment is projected to be the highest during the forecast period, due to increasing consumer demand for food & beverage products made by using natural ingredients. High health benefits and freshness quotient associated with citrus oils such as lemon oil, orange oil, and others are projected to boost their demand in the production of personal care & cosmetics products.
Europe is projected to dominate the global citrus oil market, owing to increased demand for the product attributed by health benefits associated with the product. Increased consumer inclination towards natural cosmetics and escalating consumer sophistication in European countries is projected to propel the growth of the global citrus oil market of the region during the forthcoming years. The Asia Pacific is anticipated to register significant growth during the forecast years, due to the rising demand for the product from beauty, cosmetics, spa & parlors of the region. Growing demand for citrus oil from the food & beverage industry of Asia Pacific is anticipated to contribute significantly to the growth of the market during the upcoming years.
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