Citrus Oils Market Segmented By Orange Oil, Bergamot Oil, Lemon Oil, Lime Oil, Mandarin Oil, Grapefruit Oil Type in Food and Beverages, Cosmetics and Personal Care Products, Home Care Products, and Therapeutic Massage Oils
Industry: Food and Beverages
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 320
Report ID: PMRREP11143
The market for citrus oil is projected to expand at a value-based year on year growth of 4.6% and demonstrate an increase in revenue from US$ 3,683.6 Mn to around US$ 5,768.7 Mn by 2033.
| Attributes | Key Insights |
|---|---|
|
Citrus Oil Market Size (2023E) |
US$ 3,683.6 Mn |
|
Projected Sales of Citrus Oil (2033F) |
US$ 5,768.7 Mn |
|
Value CAGR (2023-2033) |
4.6% |
|
Value Share of Top 4 Countries (2022E) |
41.8% |
From 2018-2022, the global market for citrus oil has shown significant growth at a CAGR of about 4.0%. Demand for essential oils has experienced huge surge for relaxation therapies and diverse benefits. Rising trend of generation-X and millennials for body health and awareness about the benefits of natural medicines has generated high demand for citrus essential oil products from therapists and spas. Aromatherapy products are gaining popularity across Europe and North America, and, as a result, demand in the essential oil industry is increasing in these regions.
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 oils and several other types of citrus oil blends.
Over the years, the aromatherapy and wellness industry has grown rapidly owing to the preference of harmless, convenient, and nature-based alternatives to traditional chemical solutions. The global market for citrus oil is estimated to have a valuation of US$ 5,768.7 Mn during the forecast period 2033.
“Growing Consumer Preference for Organic & Natural Formulations”
The organic nature of food and beverage products, as well as curative oils, is determined by how important ingredients such as citrus oils are grown. Citrus fruits, for example, are deemed inorganic if fertilizers and insecticides were applied during their cultivation.
Growing desire for plant-derived and natural products is a major demand driver for citrus oil, as organic products offer a higher profit margin than conventional citrus oils. Over the last decade, organic and natural formulations have been increasing steadily, and growing preference for organic ingredients in essential oils is foreseen to drive citrus oil consumption.
Rising standard of living and high per capita income in emerging economies, increasing spending power, and the proliferation of wellness and relaxation industries have heavily influenced the surge in demand for citrus oils.
“Rising Aromatherapy Trend Contribute to Revenue Increase of Citrus Oil Suppliers”
Surge in global demand for therapeutic and aromatic oils has emerged due to growing preference for accessible, non-toxic, and natural alternatives to standard allopathic medicines. The market for therapeutic oils is increasing due to the urban and sophisticated image that these products create, as well as the historical use of therapeutic oils in many Eastern countries. These products are extremely popular among urban women.
The essential oils market has witnessed escalating demand for citrus oil during the past few years. Immunity, skincare, and mood regulation, as a result of citrus oil’s ability to boost serotonin production, have created a boom in the market due to which numerous customers are preferring citrus oil as an ingredient in various value added products.
In contrast to the food and beverage industry, which employs relatively tiny amounts of citrus oil, essential oils contain significant amounts of citrus oil. Increase in citrus oil industry revenue is directly linked to rising consumer interest in aromatherapy, making it a significant driver for citrus oil market growth.
“Increasing Prominence of Aromatherapy”
Aromatherapy is the use of aromatic substances for relaxation, rejuvenation, and in the treatment of certain minor physical conditions. Practitioners of this method consider that the aroma of natural, organic, and therapeutic oils can have several beneficial effects on the body. Citrus oils can be used in various ways such as in massage, bathing, shower, inhalation, perfume, and others.
The globally increasing demand for therapeutic and aromatic oils is a result of the growing preference for convenient, harmless, and natural alternatives to traditional allopathic solutions. The increasing demand for therapeutic oils is also a result of the urban and sophisticated image these products carry and the historical use of therapeutic oils in several eastern countries. These products are particularly popular among urban women.
Unlike the food and beverages sector, which uses very low quantities of citrus oils, essential oils contain relatively large amounts of citrus oil. Growing consumer interest in aromatherapy directly contributes to revenue increase in the citrus oils market, and is therefore an important driver for market growth. The other advantage is that essential oils are priced much higher than all other products in which citrus oils are an ingredient.
“Utilization of Citrus Oil in Ethnic Food to Benefit Market Growth”
Ethnic foods are defined as foods that are part of the culture and tradition of a particular ethnic group. Due to the usage of natural or organic substances, these ingredients are typically created using ingredients that are readily available in the area.
Since it is costly to import ingredients that are specific to particular geographic locations and producers use essential oils to mimic the flavor of the original ingredient. Since 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 its application in ethnic foods produced by food and beverages manufacturers in the near future.
Which is the Fastest-growing market for citrus oil in East Asia?
The China citrus oil market is predicted to show robust growth in East Asia as consumers here are preferring the use of therapeutic oils in cosmetics and personal care products. Moreover, there has been growing awareness and adoption of essential oils among the Chinese population owing to the natural health benefits provided by the citrus oil.
The citrus oil market in China is anticipated to reach US$ 287.0 Mn by 2023, having a value-based CAGR of about 8.8%.
Which Countries are driving the market growth in the Europe region?
In Europe, France and Germany is accounting for the largest market share of about 14.0% and 14.5% respectively and is estimated to have a significant growth rate over the forecast years. The utilization of these citrus oil-based ingredients in food & beverages and cosmetics and personal care industry is also a triggering factor that is up surging demand of citrus oil in Europe.
Moreover, the citrus oil market in Russia, Germany, and Spain are expected to increase at a value-based CAGR of 5.0%, 3.8%, and 3.4%.
Which citrus oil type is most demanded in the global market?
Based on the type segment, the citrus oil market is bifurcated into orange oil, bergamot oil, lemon oil, lime oil, mandarin oil, and grapefruit oil. Among these orange oil type is in high demand and it holds a market share of about 62% followed by lemon oil with 16% of the total market share valuing at US$ 2,452.2 Mn and US$ 639.3 Mn in 2023 respectively. Whereas, lime oil is expected to grow with a high potential CAGR of 6.8% for the forecast period.
Which Application segment of Citrus Oil is anticipated to Show Maximum Growth?
The home care products category in the application segment shows great potential for growth in the forecast period having a growth rate of 5.9%. However, the therapeutic message oil category is expected to hold the maximum share based on the majority of the utilization of citrus oil in therapeutic uses such as minimization of depression, reducing inflation, reduction of stress, and others.
Key players in the essential oil market are mainly focusing on the reliable and sustainable sourcing of raw materials to ensure stable and consistent supply. To serve a larger customer base in the global market, manufacturers of citrus oil are prioritizing acquiring quality certificates to provide quality products. The focus on supply chain transparency is high to ensure the purity and safety of products.
| Attribute | Details |
|---|---|
|
Forecast period |
2023-2033 |
|
Historical data available for |
2018-2022 |
|
Market analysis |
USD million for value |
|
Key regions covered |
|
|
Key countries covered |
|
|
Key market segments covered |
|
|
Key companies profiled |
|
|
Report coverage |
|
|
Customization & pricing |
Available upon request |
By Nature:
By Type:
By Application:
By Region:
To know more about delivery timeline for this report Contact Sales
The global market for citrus oil has a value of US$ 3,683.6 Mn in 2023.
The global market for citrus oil has a value CAGR of 4.3% from 2018-2022.
The global market for citrus oil has a value of US$ 5,768.7 Mn in 2033.
The global market for citrus oil has a value CAGR of 4.6% from 2023-2033.
The top players in the global citrus oil market includes Givaudan SA, Symrise AG, Takasago International Corporation , Firmenich SA , Döhler, Archer Daniels Midland Company, and others.
