Citrus Oil Market will Steadily Grow with latest trends Analysis including Top Key Player’s Lionel Hitchen Ltd., Citrus and Allied Essences Ltd., doTERRA International LLC., Citromax Flavors Inc., Symrise AG, Bontoux S.A.S.

Citrus oil is an essential oil, which is found within the rind of citrus fruit wall. It is extracted from the peels of citrus fruits such as orange, lemon, sweet lime, among others, and has various health benefits. For instance, citrus oil has antioxidant properties, which help in relieving stress and boosts immunity. Furthermore, citrus oil helps in removing impurities and toxins from skin cells and aids in healing of various skin issues such as warts, corns, and bunions. Moreover, citrus oil is widely used to provide flavor in food and beverages.

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Steadily growing demand for plant extracts in food and beverages industry such as colorants and flavorants, and to enhance nutritional content of food products is propelling growth of the market. Increasing awareness related to benefits associated with consumption of functional food is another reason for rising demand of citrus oil in the market. For instance, according to American Botanical Council, the total retail sales of herbal supplements in the U.S. was US$ 6.9 billion in 2015, which increased to US$ 7.4 billion in 2016. Thus, growing demand for organic food ingredient over synthetic chemicals is propelling growth of the market.

Furthermore, citrus oil has high penetration in the cosmetic industry for application in perfumes and skin care and hair care products. Rising trend of using cosmetics with natural extracts is expected to support growth of the citrus oil market during the forecast period. For instance, according to U.S. Government Export Association, consumer spending on natural cosmetics in 2016, in Germany — the largest market in Europe — was US$ 13.5 billion and increased by 9.2% in 2016.

Asia Pacific region is expected to record the fastest growth during the forecast period, with the highest CAGR among all the regions. This is majorly attributed to increasing demand for natural ingredients in cosmetics, pharmaceutical, and food & beverages industries in the region. For instance, according to Australian Trade and Investment Commission (AUSTRADE), health food market in China, which includes dietary supplements, vitamins, herbal extracts and traditional Chinese medicine (TCM), was valued at US$ 30 billion in 2017, and is expected to grow 10% every year until 2025.

Key Players operating in the global citrus oil market include Lionel Hitchen Ltd., Citrus and Allied Essences Ltd., doTERRA International LLC., Citromax Flavors Inc., Symrise AG, Bontoux S.A.S., Young Living Essential Oils LC, Mountain Rose Inc., and The Lebermuth Co. Inc. among others.

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