USD 13.8 billion
Report ID:
SQMIG10D2017 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
60
|Figures:
75
Citrus Oil Market size was valued at USD 0 Billion in 2023 and is poised to grow from USD 0 Billion in 2024 to USD 0 Billion by 2032, growing at a CAGR of 6.8% during the forecast period (2025-2032).
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.
Global Market Size
USD 13.8 billion
Largest Segment
Orange Oil
Fastest Growth
Orange Oil
Growth Rate
6.8% CAGR
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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.
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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.
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Drivers
Increasing demand for natural and organic products
Restraints
Volatility of citrus fruit prices
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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
Recent Developments
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 0 Billion |
Market size value in 2032 | USD 0 Billion |
Growth Rate | 6.8% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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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Report ID: SQMIG10D2017
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