Citrus Oil Market Size worth USD 9.06 Billion by 2025
Citrus Oil Market is valued at USD 6.43 Billion in 2018 and expected to reach USD 9.06 Billion by 2025 with a CAGR of 6.13% over the forecast period.
Surge in the use of essential oils in cosmetics and personal care products and increase in the adoption of citrus oil in the food industry are the major factors stimulating the growth of the global Citrus Oil market.
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Scope of Global Citrus Oil Market Report–
Citrus oil is an essential oil based on citrus peels, such as orange, tangerine, lemon, lime, and bergamot. Citrus oil is usually extracted by cold pressing. Citrus oil is mainly used to enhance the flavor and aroma of foods, including beverages, pastries and sweets. In addition to gaining momentum as a flavor enhancer, citrus oil is also popular because of its functional properties. Among many cleaning solvents used in home care, citrus oil is considered the best source of spices. Solvents are easily soluble in other substances, so this characteristic of citrus oil makes it the best surfactant in many domestic and industrial applications. Citrus oil is one of the most widely used essential oils in the world. Each citrus oil has its own beneficial properties. The oil extracted from bergamot can be used to control acne and oily skin, and can also be used to prepare Earl Gray tea, while the oil extracted from orange can slow the growth of cancer cells due of its antioxidant properties.
Citrus Oil Manufacturers:
Key players of the Citrus Oil market are,
Symrise AG, Lionel Hitchen (Essential Oils) Ltd, Citromax Flavors Inc., Bontoux S.A.S, Young Living Essential Oils L.C., Mountain Rose Herbs, Inc, Citrus and Allied Essences Ltd, doTERRA International, L.L.C., Citrosuco, Citrus Oleo, Citromax S.A.C.I., others
Global Citrus Oil market is segmented on the basis of oil type, applications and region. On the basis of oil type, the market is segmented into lime oil, orange oil, bergamot oil, grapefruit oil, mandarin oil, lemon oil and others. On the basis of applications the market is segmented into cosmetics and fragrances, food products, pharmaceuticals, industrial solvents, cleaning products and others.
The regions covered in this Citrus Oil market report are North America, Europe, Asia-Pacific and Rest of the World. Based on the country level, market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Citrus Oil Market Segmentation:–
By Oil Type: Lime Oil, Orange Oil, Bergamot Oil, Grapefruit Oil, Mandarin Oil, Lemon Oil, Others
By Application: Cosmetics and Fragrances, Food Products, Pharmaceuticals, Industrial Solvents, Cleaning Products, Others
Global Citrus Oil Market Dynamics-
The number of clinics and health centers is increasing, and consumer preference for natural medicines is also increasing which is going to drive the growth in the global citrus oils market during the forecasted period. Additionally, the use of essential oils in cosmetics and personal care products continues to increase, and personal awareness of the health benefits of essential oils continues to increase which is further expected to stimulate growth in global citrus oil market. Due to their preference for natural fragrances, citrus oil is increasingly used as a therapeutic massage oil and aromatherapy. As per The International Fragrance Association, global sales in the fragrance industry alone amounted to € 7.3 billion and manufacturing and retail sales by downstream CPG manufacturers to € 357 billion. In recent years, the use of citrus oil in the food industry has increased due to its functional properties and the approval of the Food and Drug Association (FDA). In addition, as citrus oil is generally considered to be safe (GRAS), the food industry has expressed great interest in using it for multiple purposes. However, the high price and perishable nature of citrus oil can hamper demand and limit the growth of the world market for citrus oil. Major opportunities exists in the food and beverages industry as well as the pharmaceutical industry during the forecasted period.
Asia Pacific is expected to Witness a Fastest Growth in the Global Citrus Oil Market
Europe is expected to remain dominant in future in the global Citrus Oil market due to increase in the use of citrus oil in personal care products in the region. As per Cosmetic Europe the personal care association, in 2018, the retail value of the European cosmetics and personal care market was 78.6 billion euros, the largest market in the world. The cosmetics and personal care industries has been adding around 29 billion dollars in added value to the European economy every year. Cosmetics production contributes directly to 11 billion euros, while the supply chain contributes indirectly to 18 billion euros. The food industry in France, Germany, Spain and other countries is booming, driving an increasing demand for citrus oil. Another factor affecting market growth in the region is increased consumer awareness of the benefits of using citrus oil. Therefore, the seasoning manufacturers in the region are gradually turning to natural ingredients for seasoning. In addition, the Clean Label movement has gained considerable momentum in Europe, which in turn has increased the demand for citrus oil in recent years. With aromatherapy becoming increasingly popular with individuals, particularly in the United States and Canada, North America is expected to represent the second largest market share in terms of income in the near future. Due to the increasing use of essential oils for medical purposes, significant growth is expected in the Asia-Pacific market, particularly in developing countries.
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