USD 13.8 billion
Citrus Oil Market Size, Share, Growth Analysis, By Type(Orange Oil and Lemon Oil), By Application(Food and Beverages, and Cosmetics and Personal care), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG10D2017 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
60
|Figures:
75
Citrus Oil Market Insights
Global Citrus Oil Market size was valued at USD 13.8 billion in 2021 and is poised to grow from USD 14.74 billion in 2022 to USD 24.95 billion by 2030, growing at a CAGR of 6.8% in the forecast period (2023-2030).
Citrus oil is a type of essential oil derived from the peel of citrus fruits such as oranges, lemons, and grapefruits. It is extracted through a process called cold-pressing, which involves mechanically squeezing the peel to release the oil. Citrus oil is widely used in aromatherapy and has a refreshing and uplifting scent. It is also used in the food and beverage industry as a flavoring agent and in cleaning products for its natural disinfectant properties. Natural substances found in citrus oil, like limonene and citral, have been shown to have a variety of health advantages, including antioxidant and anti-inflammatory properties. Citrus oil's health benefits are becoming more widely known in North America, and the demand for natural and organic products is growing. Europe is also anticipated to experience significant growth as a result of the region's rising demand for natural flavors and fragrances. Asia-Pacific is expected to register the fastest growing CAGR during the forecast period, driven by the increasing demand for citrus oil in the food and beverage industry and the growing popularity of aromatherapy in the region.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Orange Oil
Fastest Growth
Orange Oil
Growth Rate
6.8% CAGR
Global Citrus Oil Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Citrus Oil Market Segmental Analysis
The Global Citrus Oil market is segmented by type, application, and region. By type, the market is segmented into orange oil, and lemon oil. By application, the market is segmented into food and beverages, and cosmetics and personal care. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
By type, the market can be segmented into orange oil and lemon oil. Orange oil is currently the dominating segment in the global citrus oil market. Because of its beneficial effects on the skin, orange oil is used extensively in the food and beverage and cosmetics industries. As a result of its inherent antibacterial qualities, it is also utilized in the cleaning and home care sectors. The market for orange oil is anticipated to grow as a result of the rising demand for natural and organic products in the cosmetics and personal care sector.
Lemon oil is expected to be the fastest-growing segment in the global citrus oil market during the forecast period. Lemon oil is widely used in the food and beverage industry as a flavoring agent and in the cosmetics industry for its skin brightening and cleansing properties. It is also used in the cleaning and home care industry due to its natural disinfectant properties. The market's demand for lemon oil is anticipated to be driven by the rising demand for natural and organic products in the cosmetics and personal care sector.
Analysis by Application
By application, the market can be segmented into Food and Beverages, and Cosmetics and Personal care. The food and beverage industry dominated the global citrus oil market. Citrus oils are widely used in the food and beverage industry as flavoring agents in various products such as beverages, baked goods, confectionery, and sauces. The increasing demand for natural and organic food products is expected to drive the growth of citrus oils in the food and beverage industry.
The cosmetics and personal care industry is expected to be the fastest-growing segment in the global citrus oil market during the forecast period. Citrus oils are widely used in the cosmetics and personal care industry for their skin benefits. They are known to have antioxidant, anti-inflammatory, and antibacterial properties, making them useful in skincare products such as facial cleansers, toners, and serums. The increasing demand for natural and organic personal care products is expected to drive the growth of citrus oils in the cosmetics and personal care industry.
Global Citrus Oil Market Size By Type, 2022 (%)
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Citrus Oil Market Regional Insights
North America dominated the global citrus oil market. The region is witnessing significant growth due to the rising demand for natural and organic products, coupled with increasing awareness about the health benefits of citrus oil. Moreover, the presence of several key players in the region, such as Lionel Hitchen (Essential Oils) Ltd. and Mountain Rose Herbs, Inc., is also driving the growth of the citrus oil market in North America.
Asia-Pacific is expected to be the fastest-growing region in the global citrus oil market during the forecast period. The increasing demand for citrus oil in the food and beverage industry and the growing popularity of aromatherapy in the region are the major factors driving the market growth. Moreover, the rising disposable income, changing lifestyles, and increasing awareness about the health benefits of citrus oil are also contributing to the growth of the market in Asia-Pacific. China, India, and Japan are the major markets in the Asia-Pacific region.
Global Citrus Oil Market By Geography, 2022-2030
- Largest
- Fastest
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Citrus Oil Market Dynamics
Drivers
Increasing demand for natural and organic products
- One of the key drivers for the growth of the global citrus oil market is the increasing demand for natural and organic products. Consumers are becoming more conscious of the harmful effects of synthetic chemicals in products, which has led to a growing preference for natural alternatives. Citrus oil, being a natural and organic product, has gained significant popularity in the food and beverage, cosmetics, and personal care industries. Moreover, the rising awareness about the health benefits of citrus oil is also contributing to the market growth.
Restraints
Volatility of citrus fruit prices
- One of the major restraints for the global citrus oil market is the volatility of citrus fruit prices. The availability of citrus fruits can be affected by factors such as weather conditions, pests, and diseases, which can cause fluctuations in the prices of the fruits. This, in turn, can affect the production costs of citrus oil, thereby impacting the profit margins of citrus oil manufacturers. Moreover, the increasing competition from synthetic fragrance and flavoring agents is also a challenge for the market.
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Citrus Oil Market Competitive Landscape
With numerous small and large players competing for customers, the global citrus oil market is highly fragmented. The market is characterized by fierce rivalry between players, with a focus on new product launches, alliances, and mergers and acquisitions to increase their market presence. Moreover, players are investing in research and development activities to enhance the quality of their products and cater to the changing consumer preferences. The market is also witnessing increasing competition from synthetic fragrance and flavoring agents, which is a major challenge for players in the citrus oil market.
Top Player’s Company Profiles
- Citrus and Allied Essences Ltd.
- Lionel Hitchen Essential Oils Ltd.
- Symrise AG
- Young Living Essential Oils LC
- Bontoux S.A.S.
- Mountain Rose Herbs
- Citromax Flavors Inc.
- Ultra International B.V.
- Citrus Oleo
- Citrus Fragrance Oil Co., Inc.
- Florachem Corp.
- Citrus and Allied (USA) Ltd.
- Lebermuth Company
- Viva Corporation
- Citrus Tropic
- Falcon Essential Oils
- Citrus and Allied Essences (Canada) Ltd.
- Lime Essential Oil Co.
- J.P. Essential Oils & Aromatics
- Citrosuco
Recent Developments
- In March 2023, Takasago announced the launch of its new range of organic citrus oils.
- In February 2023, Citromax announced a $50 million investment to expand its citrus processing facilities in Brazil.
- In January 2023, Givaudan announced the acquisition of a majority stake in Naturex, a French producer of natural ingredients, including citrus oils.
- In June 2022, Firmenich announced the acquisition of Flavorchem Corporation, a US-based producer of natural flavors and fragrances, including citrus oils.
- In April 2022, Treatt, a UK-based producer of natural ingredients, announced a partnership with Firmenich to develop natural citrus flavors and fragrances.
Citrus Oil Key Market Trends
- One of the key market trends in the global citrus oil market is the growing demand for organic and natural products. Consumers are increasingly looking for products that are free from synthetic chemicals and additives, and citrus oil, being a natural and organic product, is gaining significant popularity. Moreover, there is a growing trend of using citrus oil in the food and beverage industry as a natural flavoring agent, which is driving the market growth. Additionally, the rising demand for citrus oil in the cosmetics and personal care industry is also a major trend in the market.
Citrus Oil Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global citrus oil market analysis, the market is witnessing significant growth, driven by the increasing demand for natural and organic products and the rising awareness about the health benefits of citrus oil. North America and Asia-Pacific are the dominant regions in the market, with Asia-Pacific expected to be the fastest-growing region during the forecast period. However, the market faces challenges such as the volatility of citrus fruit prices and competition from synthetic fragrance and flavoring agents. The market is highly fragmented, with several small and large players operating in the market, and is characterized by intense competition among players. Key market trends include the growing demand for organic and natural products, the use of citrus oil in the food and beverage industry as a natural flavoring agent, and the rising demand for citrus oil in the cosmetics and personal care industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 13.8 billion |
| Market size value in 2031 | USD 24.95 billion |
| Growth Rate | 6.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Citrus Oil Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Citrus Oil Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Citrus Oil Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Citrus Oil Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Citrus Oil Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Citrus Oil Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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