Global Orange Oil Market Growth Opportunities by Manufacturers, Regions, Type and Application, Forecast to 2024 By Leading Key Players: Floracopeia Inc., Moksha Lifestyle Products, Biolandes, The Lebermuth Company, Inc., Mentha & Allied Products Private L
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Global Orange Oil Market size is expected to witness a substantial growth in the forecast spell due to the rise in demand for flavors & fragrances in personal care clubbed with aromatherapy.
Growing favorability of consumers towards naturally made beauty care and personal care products is leading to the innovation and development in the orange oil market. It can be categorized as a luxury product due to its high demand among the high-income group and exceptionally soaring prices.
Growing aromatic flavors & fragrance requirements in wellness spas, relaxation therapies and aromatic therapies is likely to foster the future orange oil market demand. Its use in massage & relaxation treatments, and its properties such as antidepressant, antispasmodic, aphrodisiac, carminative and sedatives helps the product gain popularity. Increasing disposable income of consumers, high purchasing parity and increasing global tourism activities in Southeast Asian nations will drive the industry in Thailand, Vietnam, India, and China.
Rising demand for aromatic fragrance oils in the hospitality sector is likely to cater the growth of the global orange oil market. Guests arriving in the hotels, multiplexes and malls feel good and rejuvenated of the surrounding air is fresh with mild fragrances. Studies claim that about 75% of the people are attracted to the pleasant aroma and would happily visit several times. Research also claims that about 90% of the people walk-out if they do not like the smell of the surroundings. Furthermore, the product is a naturally derived oil, with ho harmful side effects unlike other medicines and drugs, boosting the overall orange oil market demand.
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The enormous quantity of plant material required to obtain a single ounce of the product are the rising concerns for resource depletion. This is likely to hamper the growth of global orange oil market. Also, due to numerous challenges such as government certifications and high capital costs, manufacturers in the orange oil market are facing several challenges which in turn is creating a restraint for growth.
The product finds its application in a wide variety of domestic, personal care, food, and pharmaceutical uses. Domestically, it is used to add flavor to sweetmeats, desserts, and beverages. In personal care, it finds its uses in deodorants, sprays, room fresheners, concentrates for soft beverages, dental care, anti-aging, creams, body lotions and soaps to mention some. In food, it is used in flavoring biscuits, chocolates, confectioneries, and bakery items. Rising orange oil market demand owing to several pharmaceutical applications such as antiseptic, aphrodisiac, anti-inflammatory, diuretic and antidepressant properties, is likely to boost the demand in coming years.
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In terms of value, Europe is considered to be a noteworthy orange oil market owing to increasing number of medicines, beauty products, fragrances, natural cosmetics demand and consumer sophistication. Though Europe is expected to hold a major chunk of share, the region is likely to witness a slow and steady growth owing to the market saturation. North America also has a significant share considering the product consumption and major import activities. The Asia Pacific orange oil market is likely to grow at an exponential rate owing to less regulatory conditions, increasing product popularity and growing number of wellness spas & relaxation centers.
The prominent players in the orange oil market are Floracopeia Inc., Moksha Lifestyle Products, Biolandes, The Lebermuth Company, Inc., Mentha & Allied Products Private Limited, Young Living Essential Oils, doTERRA, Aromaaz International, Aroma Aromatics & Flavours, Kapco International Ltd., India Essential Oils, Jedwards International, Inc., Interstate Commodities Corp., NHR Organic Oils to name a few.
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