Global Citrus Oil Market to Grow at a CAGR of 6% During 2021-2026, Aided by the Growing Demand from Various Application Segments

The citrus oil industry is being driven by the growing product demand from various application segments, particularly food and beverages and cosmetics. Based on oil type, the orange oil segment accounted for a significant share in the industry in 2020. The growth can be attributed to the antiseptic and anti-inflammatory properties of orange oil and its flavour and fragrance. This is further supported by the growing product demand in the food and beverages and cosmetics industries. Meanwhile, the lemon oil segment is expected to witness a robust growth over the forecast period owing to the growing demand for a refreshing aroma. The product is witnessing increased utilisation in home care and personal care products like detergents, teeth whiteners, soaps, face wash, and others. Lemon oil contains d-limonene and provides smoother skin and clearer complexion, and, thus, is being increasingly utilised in skin care products. Moreover, the growing product demand in the pharmaceutical sector, as it can help treat cancer, is further propelling the growth of the segment.

The growing demand for essential oils is expected to bode well for the industry. The manufacturers are enhancing their product portfolio and increasingly investing in product marketing. The easy availability of citrus oils, including orange, lemon, and grapefruit, among others, through retail channels like Walmart Inc (NYSE: WMT) and Amazon.com, Inc. (NASDAQ: AMZN) is significantly contributing to the industry growth. Moreover, the growing consumer inclination towards online shopping owing to the convenience factor will provide a further boost to the industry in the coming years.

Market Breakup by Origin, Oil Type, Application, and Region:

• On the basis of origin, the industry can be bifurcated into organic and conventional.
• The various oil types available in the industry include orange, lemon, lime, bergamot, mandarin, grapefruit, and tangerines oil, among others.
• Based on application, the industry can be categorised into food and beverage, cosmetic and personal care, pharmaceuticals, and aromatherapy, among others.
• Region-wise, the global market for citrus oil can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The industry is being driven by the growing consumer demand for natural and organic products owing to growing health-related concerns. 
• The thriving food and beverages and cosmetic industry are further propelling the market growth. 
• The industry will receive further impetus with the growing research and development activities, rapid technological advancements, and surge in the sales of pharmaceuticals. 
• The new product launches, rising disposable incomes, and improving standards of living are accelerating the growth rate of the industry. 

Key Offerings of the Report:

• The EMR report gives an overview of the global market for citrus oil for the periods (2016-2020) and (2021-2026). 
• The report also offers historical (2016-2020) and forecast (2021-2026) market information for the origins, oil types, applications, and major regions of citrus oil.
• The report also gives the regional historical (2016-2020) and forecast (2021-2026) price trends of the product.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global citrus oil market are Döhler GmbH, Lebermuth, Inc., Firmenich SA, Treatt Plc, Lionel Hitchen Limited, and Citrus and Allied Essences Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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