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Global Citrus Oil Market to Grow at a CAGR of 6% During 2020-2025, Aided by the Growing Demand from Various Application Segments

According to a new report by EMR titled, ‘Global Citrus Oil Market Report and Forecast 2020-2025’, the global market for citrus oil is expected to grow at a CAGR of 6% between 2020 and 2025.

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 2019. 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 (2015-2019) and (2020-2025). 
  • The report also offers historical (2015-2019) and forecast (2020-2025) market information for the origins, oil types, applications, and major regions of citrus oil.
  • The report also gives the regional historical (2015-2019) and forecast (2020-2025) 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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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