Citronella Oil Market: Demand in North America is Expected to Remain Low

Posted on 2019-07-12 by Mark Hub in Industrial // 0 Comments

Rockville, USA, 2019-Jul-12 — /EPR Network/ — The demand for essential oils such as citronella oil is expected to witness steady growth in the view of a stable adoption of aromatherapy. However, lack of awareness among consumers continues to render manufacturing downturns in the global market for citronella oil. This report offers key insights on how the global citronella oil market will grow during the forecast period, 2017-2022, providing an analytical study on the market’s growth till date.

According to the recent report published by Fact.MR, the global market for citronella oil is expected to grow at a sluggish pace, procuring just over US$ 70 Mn value by the end of 2022. Lack of awareness regarding the benefits of citronella oil in aromatherapy is expected to curb the growth of global market. The market is also expected to witness restraints due to rising adoption of remedies substituting aromatherapy, which is lowering the demand for essential oils such as citronella oil.

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Key Insights from the Report include:

In 2017, over two-fifth of global citronella oil market value will be accounted by sales of citronella oil in absolute form. On-shelf availability of citronella oil in absolute form is also expected to gain traction owing to relatively easier production compared to concentrates of citronella oil.
Therapeutics, aromatherapy and production of food & beverage products are expected to remain the three most prominent applications of citronella oil. Through 2022, these three applications will account for more than half of the global citronella oil market value.
In 2014, the European Commission announced the approval of herbicide made from citronella oil, specifying a few amends that mitigate potential risks to workers, residents, ground water and non-target organisms. The report projects that favorable government-supported sanctions as such will boost the growth of citronella oil market in Europe. In 2017 and beyond, Europe is expected to remain the largest market for citronella oil, expanding at a steady CAGR of 4.9%.
The demand for citronella oil in North America is expected to remain low. Consumers in the US and Canada are less likely to be aware of benefits of essential oils such as citronella oil in aromatherapies. Higher inclination of consumers in North America towards instant therapeutic remedies is impeding the preference to citronella oil-based aromatherapy. Over the forecast period, the citronella oil market in North America is expected to reflect the lowest CAGR, becoming the least attractive region for market players.
The report predicts that nearly eight out of ten citronella oil products sold in the global market will be sourced naturally. The demand for organically sourced citronella oil will remain relatively low, creating an incremental opportunity of just over US$ 2 Mn between 2017 and 2022.

Market Analysis – By Form, Applications & Distribution

Demand for citronella oil in absolute form is anticipated to gain traction. The report projects that concentrates of citronella oil will witness a relatively lower demand due to their limited application. In addition to this, the market will also witness a sluggish growth for blended citronella oil products, pertaining to complexities in their production. In 2017 and beyond, a majority of citronella oil will be used in production of food products & beverages. Being the largest application, sales of citronella oil in food & beverage production is expected to contribute more than US$ 14 Mn by the end of 2022. The report also projects that modern trade outlets will account for largest revenue share in terms of global distribution of citronella oil. Online sales of citronella oil products are also expected to gain momentum, towards the end of forecast period, reflecting a steady growth at 4.8% CAGR.

Competition Tracking

IL Health and Beauty Natural Oils Co., Inc., Aromaaz International, Green Fields Oil Factory, Aksuvital, Plant Therapy Essential Oils, Linonel Hitchen Essential Oils Ltd., Shaanxi Guanjie Technology Co., Young Living Essential Oils LC, Synthite Industries Ltd., Bio Extracts private limited, D?TERRA International, Greenleaf Extractions Pvt Ltd, and Natures Natural India are profiled in the report as key players that will remain active in the expansion of global citronella oil market through 2022.

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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