Press release
Citrus Oil Market to Grow at a CAGR of 5.40% During 2017-2022
According to a recently published report, the global citrus oil market is expected to represent a value of over US$ 8,600 Mn by the end of 2022.
Consumption in Healthcare Industry
Besides, food and beverages industry, citrus oil is likely to witness considerable demand in the healthcare industry for treatment of infections, skin disorders, obesity, and asthma. Equipped with a potent array of anti-cancer properties, citrus oil continues to witness significant demand in the healthcare industry for the treatment of cancer. Attributed to high content of antioxidants, the citrus oil is likely to witness considerable demand in the healthcare industry as it helps in neutralizing the free radicals, boosts the immune system, and helps in relieving stress.
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Significant Demand for Aromatherapy
As aromatherapy is emerging as the most preferred treatment of depression, demand for relaxing and refreshing fragrances, massage oil, and bath additives has revved up significantly. Increasing demand for refreshing, and uplifting aroma among customers has led manufacturers to use citrus oil in range of aromatherapy products. Bound to these factors, demand for citrus oil is likely to rev up during the forecast period in the global market.
Cosmetic Industry to Fuel Market Growth
Citrus oil is also expected to witness significant demand in the cosmetic industry attributed to brightening, cleaning, and antibacterial features. Manufacturers continue to use the citrus oil in cosmetic and personal products as it helps in clearing the dead skin, excess oil, and by breaking down the dirt. Known as a natural toner, consumption of citrus oil continues to rev up in the cosmetic and personal care industry.
On the other hand, inhalation and application of several aromatherapy products could lead to allergic reactions. Moreover, when applied on the skin, several aromatherapy products could lead to allergies that causes redness, irritation, and asthma. Further, application of citrus oil could lead to deep sunburns as it is sensitive to the ultraviolet rays.
Orange Oil to Represent a Leading Segment
With growing need for citrus oil in the food and beverages, and aroma industry, manufacturers witness increasing demand for orange oil. Orange oil is expected to witness the highest revenue growth, accounting for a value of over US$ 1,200 Mn by the end of 2022. Orange oil as compared to other products is expected to register the highest CAGR in the global market throughout 2022.
Distillation as compared to other extraction methods is expected to generate significant revenues, recording a value of over US$ 700 Mn by the end of 2017. The distillation segment is expected to register the highest CAGR in the global citrus oil market throughout 2022.
Food and Beverage industry in terms of end users is expected to witness the highest revenue growth, representing a value of over US$ 700 Mn by the end of 2022. The personal care and cosmetic as compared to other end users is expected to register the highest CAGR in the global market throughout 2022.
Sales of citrus oil through specialty stores is expected to generate significant revenues, accounting for a value of over US$ 700 Mn by the end of 2017. Modern trade as compared to other sales channel is expected to register the highest CAGR in the global market throughout 2022.
Competition Tracking
Leading players operating in the global citrus oil market include Biolandes Sa, Citrus and Allied Essences Ltd., Symrise AG, Young Living Essentials Oils LC, Givaudan SA, International Flavors & Fragrances Inc., DoTERRA International LLC, The Lebermuth Co., Inc., Citrosuco Gmbh, and Farotti Srl.
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