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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:
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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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