Citrus Oil Market: Industry Insights, Trends and Forecast up to 2031

Market Taxonomy

Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)

Scope

The scope of Fact.MR’s report is to analyze the global citrus oil market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Citrus oil manufacturers, stakeholders, and suppliers in the global food & beverage sector can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to citrus oil.

Summary

The report commences with a brief information of the global citrus oil market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global citrus oil market.

Overview

The next section offers an overview of the global citrus oil market. This comprises an introduction to the market, along with a standard definition of the product – citrus oil. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.

The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.

In order to offer readers with up-to-date information about the latest advancements in the global citrus oil market, the report provides updates about market opportunities, which can benefit leading manufacturers of citrus oil. With continuous evolution of the food & beverage sector, keeping a record of latest developments and trends is fundamental for citrus oil manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.

Considering the wide scope of the global citrus oil market and to offer in-depth insights, Fact.MR’s report provides segment-wise analysis and forecast. The citrus oil market has been categorized on the basis of product type, extraction method, application type, sales channel, and region. This segmentation analysis is comprehensive, coupled with a detailed country-wise forecast provided on all parameters.

Factors Fuelling Growth of the Global Market

Growth of the global citrus oil market is bound to several micro-economic and macro-economic factors. Consumption of the citrus oil continues to remain high in the food and beverage industry attributed to several health-related benefits. With growing demand for artificial drink concentrates, growth of the global citrus oil market is projected to increase in the upcoming years. Moreover, the manufacturers increasingly use citrus oil in order to enhance the flavor of the beverage and food products. Bound to these factors, citrus oil is projected to witness an upsurge in demand in the food and beverages industry globally.

In addition to the food and beverages industry, demand for citrus oil is projected to witness an upsurge in the aroma industry. Refreshing and relaxing fragrance products including bath additives, and massage oil continue to witness an upsurge in demand for aromatherapy. Moreover, use of fragrance products with an uplifting aroma for treatment of depression is further likely to contribute towards growth of the global citrus oil market. Apart from food and beverages, and aroma industry, demand for citrus oil will continue to remain high in the cosmetic and personal care industry. Manufacturers in the cosmetic industry prefer using citrus oil in range of products as it helps in clearing the excess oil, and dead skin. Citrus oil is further known as the natural toner, and is increasingly used in a range of skin products. These factors are likely to encourage progress of the global citrus oil market over the forecast period.

While the overall outlook of the global market growth seems to remain positive, growing prevalence of allergic reactions during application of aromatherapy products is likely to dip demand for citrus oil. Moreover, application and inhalation of various personal care and cosmetic products could result in allergic reactions that cause irritation, asthma, and redness. Application of citrus oil can further lead to deep skin burns as it is sensitive to the ultraviolet rays. These factors are likely to inhibit growth of the global citrus oil market over the forecast period.

Food & Beverage Industry to Represent a Dominant Segment

As demand for refreshing and relaxing food products increases, manufacturers turn to blend citrus oil in order to offer desired flavor. Orang oil continue to sell more than the other products in the global citrus oil market. Currently, the orange oil products type segment is projected to represent more than US$ 1,200 Mn, reflecting a relatively high CAGR in the global market through 2022.

By extraction method, the distillation segment is projected to dominate, representing more than US$ 700 Mn by 2017-end. During the forecast period, the distillation segment is projected to reflect a robust CAGR as compared to other extraction methods.

Demand for the citrus oil will continue to remain concentrated in the food & beverages industry. According to the report, the food & beverages application segment is projected to represent more than US$ 700 Mn by 2022-end. However, demand for citrus oil products will continue to grow faster in the personal care and cosmetic industry globally.

Citrus acid is projected to witness significant sales growth through specialty stores sales channel, representing more than US$ 700 Mn by 2017-end. Sales of the citrus oil through modern trade is projected to reflect the fastest growth as compared to other channels in the global market throughout 2022.

Market Players

Major players in the global market of citrus oil are Citrus and Allied Essences Ltd., Biolandes Sa, Young Living Essentials Oils LC, Symrise AG, International Flavors & Fragrances Inc., Givaudan SA, The Lebermuth Co., Inc., DoTERRA International LLC, Farotti Srl, and Citrosuco Gmbh.