The new report by Expert Market Research titled, ‘Global Citrus Oil Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global citrus oil market, assessing the market based on its segments like origins, oil types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Forecast CAGR (2020-2025): 6%
The market for citrus oil is being driven by the several benefits of using the product, which is driving the demand from various sector and industries. Further, the rising demand for citrus oil from the food industry for its application as a natural flavouring agent and taste-enhancer in the food products is propelling the market growth of citrus oil. In addition, the medicinal, aromatic, and soothing properties of citrus oil is enhancing the market growth of citrus oil. The rising popularity of aromatherapy is leading to an upsurge in the demand for citrus oil, consequently leading to its market expansion.
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Industry Definition and Major Segments
Citrus oil is derived by the process of cold pressing the rinds of the citrus fruits. The rind shoots a small amount of an aromatic fluid that consists of essential oil components. It can also be obtained through the process of steam distillation. Citrus oils generally help boost an aroma and brighten more earthy, deep aromatics such as patchouli, rose, and vetiver. Citrus oil shares extensive application across various industries due to its refreshing aroma, therapeutic properties, citrus flavour, and soothing effects.
On the basis of origin, the industry is bifurcated into:
• Organic
• Conventional
By oil type, the industry can be divided into:
• Orange Oil
• Lemon Oil
• Lime Oil
• Bergamot Oil
• Mandarin Oil
• Grapefruit Oil
• Tangerines Oil
• Others
On the basis of applications, the industry is segmented into:
• Food and Beverage
• Cosmetic and Personal Care
• Pharmaceuticals
• Aromatherapy
• Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Trends
The market growth of citrus oil is being driven by the rising health awareness and rising consumer demand for the product consisting of natural ingredients. The increasing shift towards the preference of organic products is aiding the market growth. The market is governed by certain factors like inflating disposable incomes, thriving demand for cosmetic and personal care products, and rising developments in technology. The aforementioned factors are influencing the market positively. In addition, the easy availability of citrus fruits plays an important role in the production process of citrus oil. The market is further expected to expand owing to the rapid investments in R&D activities to find new uses of citrus oil.
Key Market Players
The major players in the market are Döhler GmbH, Lebermuth, Inc., Firmenich SA, Treatt Plc (LON: TET), Lionel Hitchen Limited, and Citrus and Allied Essences Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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