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Global Citronella Oil Market Outlook and Market Development Analysis Reveals Forecast for the Period 2017-2022
Fact.MR
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Essential oils have gradually treaded beyond their conventional application in therapeutics and aromatherapy. The global food & beverage sector is witnessing an increasing adoption of citronella oil in production of new food items and beverages. Considering the easy procurement of raw lemongrass, manufacturers of citronella oil products are less likely to face any technical and financial barriers while extending their production capacity. Increasing applications of perfumery chemicals such as geraniol is expected to have an influence on the global sales of citronella oil. However, lack of awareness regarding the benefits of such products is expected to impact the expansion the global market for citronella oil in the years to come.
Citronella oil is a prominent essential oil made from the extracts of a distinct species Cymbopogon plant. Stems and leaves of this species, commonly known as lemongrass, are used for making citronella oil extracts. The oil is primarily used as a source in production of perfumery chemicals such as citronellal and citronellol.
The Fact.MR report on global market for citronella oil projects that the market will witness a sluggish growth during the forecast period, 2017-2022, procuring approximately US$ 70 Mn value by the end of 2022.
Naturally-Sourced Citronella Oil to be in Great Demand
Popular belief that synthetic production of food items and beverage lowers their nutritional content continues to have a controlling influence on the sales of citronella oil products. Going forward, the demand for naturally sourced citronella oil is expected to remain higher than the demand for organic citronella oil.
While organic production of citronella oil is more feasible than procuring it naturally, consumers are expected to remain more inclined towards benefits of naturally-derived citronella oil. Even the minimal measure of processing involved in production of organic citronella oil is expected to disturb the implicit health advantageous of citronella oil. By the end of 2022, more than three-fourth value of the global market for citronella oil will be procured from sales of naturally-sourced citronella oil.
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Market Analysis – By Form, Applications & Distribution
Demand for citronella oil in absolute form is anticipated to gain traction. The report projects that concentrates of citronella oil will witness a relatively lower demand due to their limited application. In addition to this, the market will also witness a sluggish growth for blended citronella oil products, pertaining to complexities in their production. In 2017 and beyond, a majority of citronella oil will be used in production of food products & beverages. Being the largest application, sales of citronella oil in food & beverage production is expected to contribute more than US$ 14 Mn by the end of 2022. The report also projects that modern trade outlets will account for largest revenue share in terms of global distribution of citronella oil. Online sales of citronella oil products are also expected to gain momentum, towards the end of forecast period, reflecting a steady growth at 4.8% CAGR.
Competition Tracking
The report has profiled leading manufacturers of citronella oil which will shape the competitive landscape of the global market. Through 2022, companies which are expected to actively partake in the growth of global citronella oil market include, Bio Extracts private limited, Synthite Industries Ltd., D?TERRA International, Greenleaf Extractions Pvt Ltd, Young Living Essential Oils LC, Natures Natural India, Shaanxi Guanjie Technology Co., IL Health and Beauty Natural Oils Co., Inc., Aromaaz International, Linonel Hitchen Essential Oils Ltd, Green Fields Oil Factory, Plant Therapy Essential Oils, and Aksuvital.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Food & Beverages Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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