Global Market Study on Citrus Oil: Increasing Use in Aromatherapy Ascending Market Growth


Citrus Oil  Market
  • Published On : Jun-2020 |
  • Pages : 320 Pages |
  • Format : Citrus Oil  Market Citrus Oil  Market Citrus Oil  Market Citrus Oil  Market

Citrus oil is considered as the best source of fragrance in many cleaning solvents used for home care. Solvents are easily dissolved in other substances, and thus, this property of citrus oil makes it the best surfactant in many household and industrial applications. The demand for cleansing products, especially of the citrus flavor, has been witnessing a rise. Limonene is a key component of citrus oils, and imparts several of the beneficial properties associated with citrus oil. Limonene can be a replacement for several other solvents such as mineral spirits, toluene, acetone, and glycol ethers. Limonene is also a direct substitute for many organic solvents. Due to these factors, the global citrus oil market is set to exhibit decent growth over the forecast period of 2020 to 2030.

Consumers Favoring Flavor Enhancers in Food & Beverage Products Augmenting Market Growth

Citrus oils are used in the food and beverage industry for various applications to improve flavor and other certain functional properties. Citrus oil is usually used in applications such as bakery & confectionery and carbonated & non-carbonated beverages. The other factor which is increasing the adoption of citrus oil in food and beverage products is growing consumer preference for fortified foods or foods enriched with beneficial ingredients such as antioxidants and vitamins. Consumer preference for flavors and oils beyond traditional choices of orange and lemon has been witnessing a significant rise in recent years, globally. This demand is leading to higher sales of less popular varieties such as mandarin orange oil and several other types of citrus oil blends, thereby aiding the growth of the citrus oil market.

Growing Use of Citrus Oils in Ethnic Foods

Ethnic foods are defined as foods that are part of the culture and tradition of a particular ethnic group. These are mostly prepared from locally available materials, and are generally considered as healthy due to the use of natural or organic ingredients. Since it is costly to import ingredients that are specific to particular regions, manufacturers use essential oils to mimic the flavor of the original ingredient. As these oils are also plant-derived, they are considered natural and healthy. As a result, citrus oils are expected to witness significant increase in demand for their application in ethnic foods produced by food & beverage manufacturers in the near future, thereby boding well for the expansion of the citrus oil market size.

Citrus Oil Market Trends

Citrus fruit production is increasing worldwide, owing to the rising demand for citrus fruits and ingredients from retail, food and beverage, and pharmaceutical industries. Citrus fruits have a number of health benefits, and can be widely used in personal care, cosmetics, and pharmaceuticals. Leading citrus fruit producing countries such as Brazil, Argentina, Mexico, and the U.S. are witnessing an increase in production and processing of citrus fruits. On the other hand, the production of citrus oil is increasing in proportion to the increasing production of citrus fruits. Citrus oil has various applications in cosmetics and personal care, food & beverage, and home care products. Thus, increasing application of citrus oil in various industries is boosting the growth of the global citrus oil market.

  • For instance, LemonConcentrate S.L. provides citrus oil to many industries such as food and beverages, cosmetics, home care products, massage oil, and for other industrial applications.

Regional Landscape of Global Citrus Oil Market

South Asia and East Asia are the fastest-growing regions in the world, having a maximum number of emerging economies. Countries such as China, India, Indonesia, Thailand, and Malaysia are the fastest-growing economies based on both, population and economy. Moreover, small- and medium-sized businesses are also growing in this region. Also, the increasing number of food & beverage manufacturers is creating huge demand for citrus oil in these emerging regions. However, North America and Europe are still dominating the global citrus oil market, owing to the huge demand for citrus oil in various applications in food & beverage and cosmetics & personal care industries.

COVID-19 Effect on Citrus Oil Market

The widespread of COVID-19 has marginally impacted citrus production across the world. The major contributing reason is that, its harvesting season starts from December through March, and from January to April. As the harvesting of citrus fruits has been affected due to the spread of COVID-19, it has had an impact on the production volume of citrus. Further, demand is expected to rise and the ending stock of the 2019-2020 season would be used more. Manufacturers in the citrus oil market are facing challenges in the procurement of raw material as well as the shortage of manpower at their manufacturing plants. Another major concern for exporters is the delay in the opening of ports around the globe. Delayed loadings, delayed ships, and slow port dealings would also affect the citrus fruits landscape, as well as citrus oil that has been sitting in the supply chain process. In addition, the retail sector has also been highly affected by this pandemic, and this has had an impact on the sales of citrus oil in the second quarter of 2020, which will observe a recovery in the third and fourth quarter of 2020.

Analysts’ Viewpoint

The global citrus oil market is anticipated to witness substantial growth over the forecast period of 2020-2030. North America and Europe are the dominating regions in the global citrus oil market. The growing application of citrus oil across various industries such as food and beverages and cosmetics & personal care is the driving factor for the global citrus oil market. Increasing demand from emerging economies from regions such as South Asia and East Asia are also projected to boost the growth of the global citrus oil market. Market players can also look to establish themselves in these regions for additional profits.

Citrus Oil Market: Report Scope

The latest market report by Persistence Market Research on the global citrus oil market evaluates the opportunities and current market scenario, providing insights and updates about the corresponding segments involved in the global citrus oil market for the forecast period of 2020-2030. The report provides a detailed assessment of key market dynamics and comprehensive information about the structure of the global citrus oil market. This market study contains exclusive insights into how the global citrus oil market is anticipated to grow during the forecast period of 2020-2030.

The primary objective of the global citrus oil market report is to provide insights regarding the opportunities in the market that are supporting the transformation of global businesses associated with citrus oil. It is very important to consider that, in an ever-wavering economy, we provide estimated (Y-o-Y) year-on-year growth rate in addition to the compound annual growth rate (CAGR) for overall forecasts, to enable readers to better understand the analysis and evaluation of the global citrus oil market, and to discover lucrative opportunities in the market.

This report also provides an estimate of the global citrus oil market size and corresponding revenue forecasts carried out in terms of absolute $ opportunity. It also offers actionable insights based on the future trends in the citrus oil market. Furthermore, new and emerging players in the global citrus oil market can make use of the information presented in the study for effective business decisions, which will provide momentum to their businesses as well as the global citrus oil market.

The study is relevant for manufacturers, suppliers, distributors, and investors in the global citrus oil market. All stakeholders in the global citrus oil market, as well as industry experts, researchers, journalists, and business researchers can leverage the information and data represented in PMR’s report.

Key Segments of Global Citrus Oil Market

PMR’s report on the global citrus oil market offers information divided into four segments - nature, type, application, and region.

Nature

Type

Application

Region

  • Organic
  • Orange Oil
  • Food & Beverages
  • North America
  • Conventional
  • Bergamot Oil
  • Cosmetics & Personal Care
  • Latin America
  • Lemon Oil
  • Home Care Products
  • Europe
  • Lime Oil
  • Therapeutic Massage Oil
  • South Asia
  • Mandarin Oil
  • Other Industrial Applications
  • East Asia
  • Grapefruit Oil
  • Oceania
  • Middle East & Africa

Key Questions Answered in PMR’s Global Citrus Oil Market

  • Which region will hold the highest market share in the global citrus oil market during the forecast period?
  • Which region is experiencing the highest growth (CAGR)?
  • Which factors are impacting the global citrus oil market?
  • What are the global trends impacting the citrus oil market?
  • What strategies must be emerging players adopt to capture opportunities in various regions in the citrus oil market?
  • What is the market structure of the global citrus oil market?

Global Citrus Oil Market: Research Methodology

Persistence Market Research is committed to providing unbiased market research solutions to its clients. PMR follows a robust methodology for the deduction of data included in this report. A unique research methodology is utilized to conduct extensive research on the global citrus oil market, and reach conclusions about the future growth factors of the market. PMR’s research methodology comprises primary research methods coupled with secondary research methods, which ensure the accuracy and reliability of the conclusions in this report.

A demand-side approach is followed to estimate the sales of target products, followed by an in-depth supply-side assessment of value generated, key trends, and events over a predefined period. This methodology is based on standard market structures, methods, and definitions that are based on inputs from local sources in over seven regions - North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa, which PMR considers for segmenting the global market. Statistics, characteristics, and variances are collected at a regional level, aggregated at the same level, and then synthesized at a worldwide level to create global market measurements. Our main sources of research include:

  • Primary Research
  • Secondary Research
  • Trade Research
  • Social Media Research

Companies covered in Citrus Oil Market Report

  • Givaudan SA
  • Symrise AG 
  • Takasago International Corporation 
  • Firmenich SA 
  • Döhler 
  • Archer Daniels Midland Company 
  • R.C. Treatt & Co. Ltd. 
  • Trilogy Ingredients, Inc. 
  • Lionel Hitchen Limited 
  • Citromax Flavors 
  • Flavor Producers, LLC 
  • LemonConcentrate S.L. 
  • Citrosuco
  • d?TERRA
  • Citrus and Allied Essences Ltd. 
  • Bontoux
  • SNN Natural Product 
  • Ultra International B.V. 
  • A G Industries 
  • Aos Product Pvt. Ltd. 
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