Citrus Oil Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Citrus Oil Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : October, 2020 | Food and Beverages | PPT format

Report Digest


Citrus Oil Market: Snapshot

Citrus oils are utilized for giving a sweet and refreshing to food items, for example, tea and smoothies. It is also used for improving flavors of bakery items, for example, scone, snacks, and treats.

Medical usages of citrus oil is an important factor behind the growth in the global citrus oil market, owing to rising applications in various sectors. Moreover, increasing awareness among consumers due to several advantages of essential oils is also contributing in market development. The global citrus oil market is foreseen to expand at a noteworthy pace in the following couple of years attributable to the surging demand from consistently growing applications in various sectors.

The market is additionally profiting by the rising disposable income of the over population and the heightened demand regarding natural personal care products. As the global purchasers invest more on healthcare and skincare products obtained from natural sources, the essential oils sector, for example, citrus oil is likewise expected to witness acceleration in coming years.

Another driver working in favor of the global citrus oil market is the high demand for normal flavors and colorants in the food and drinks sector as the purchaser turns out to be progressively worried about the negative effects of synthetic additives in their food and drinks.

Moreover, the growing demand among the global buyer with respect to the advantages of functional food is as well expected to impact the global citrus oil market. Studies projected that the global utilization of herbal supplements has greatly soared in the previous couple of years, which has, thus, built up improved development scopes for the food industry, including citrus oil market.

Global Citrus Oil Market: Overview

Citrus oil is one of the most widely used essential oils across a number of applications such as food flavouring, aroma therapy, and manufacture of industrial solvents and therapeutic products. Citrus oil is widely used in the food and beverages industry, which accounts for a significant share of the overall market. The use of citrus oil is also high in massage parlors and spas.

Citrus oils are used for adding a refreshing, sweet flavour to beverages such as smoothies and tea and for enhancing the flavour of baked goods such as cookies, muffins, and scones. As citrus oils are made from the peel of citrusy fruits such as orange, bergamot, lime, lemon, grapefruit, and mandarin, they can easily substitute fruit zest in a recipe, with only a few drops required to substitute the zest of an entire fruit in a recipe. Therapeutic uses of citrus oil are also of vast importance to the global citrus oil market as the application area is steadily expanding in the face of rising consumer awareness regarding the vast benefits of a variety of essential oils. The global citrus oil market is likely to expand at an impressive pace in the next few years owing to the rising demand from steadily expanding application areas.

Global Citrus Oil Market: Trends and Opportunities

One of the leading factors working in favour of the global citrus oil market is the steadily rising demand for natural flavorants and colorants in the food and beverages industry as the consumer becomes more concerned about the negative health impact of synthetic additives in their foods and beverages. The rising awareness among the global consumer regarding the benefits of functional foods is also likely to have a promising influence on the global citrus oil market. Studies have demonstrated that the global consumption of herbal supplements has massively increased in the past few years, which has, in turn, developed an improved growth opportunity for the organic food industry.

The market is also benefitting from the increased disposable incomes of the global population and the increased demand for organic personal care products and cosmetics. As the global consumer spends more resources on skincare and healthcare products that are derived from biological sources, the market for essential oils such as citrus oil is also expected to rise at a promising pace.

Global Citrus Oil Market: Market Potential

The key applications of citrus oil are found in applications such as food and beverages, nutraceuticals, and personal care products. These industries have been expanding at an impressive pace over the past many years, tapping growth opportunities in emerging economies with a more aware and affluent consumer base. With the vast rise in demand for packaged and ready-to-consume foods and beverages and high-quality personal care products in emerging economies in regions such as Asia Pacific and Latin America, the demand for citrus oil is also expected to see a promising rise in the next few years. Companies eyeing a larger share in the market need to focus on these application areas for sustainable profits.

Global Citrus Oil Market: Geographical and Competitive Dynamics

From a geographical standpoint, the market for citrus oil in Europe is presently the leading revenue opportunity for the global citrus oil market. Vast rise in demand for natural personal care products and cosmetics, a thriving food and beverages industry, and the well-established bakery industry are the factors that have worked well for the citrus oil market and Europe and are likely to help the market expand further in the next few years as well. The markets in North America and Asia Pacific are also likely to work well from future growth perspective. This will be chiefly influenced by the thriving personal care, cosmetics, and gourmet foods industries in these regions.

Some of the leading companies operating in the global citrus oil market are Citrus and Allied Essences Ltd., Lionel Hitchen Ltd., Young Living Essential Oils LC, doTERRA International LLC., The Lebermuth Co. Inc., Bontoux S.A.S., Citromax Flavors Inc., Mountain Rose Inc., and Symrise AG.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?