Press release
Future Outlook: Citrus Oil Market Set to Exceed USD 6.5 Billion by 2034 with Steady Growth | FMI Report
Citrus Oil Market
As these trends penetrate the market, the sales of citrus oil amplify, potentially attaining a valuation of US$ 6594.550 million by 2034. This progression signifies a moderate CAGR of 4.40% from 2024 to 2034.
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The citrus oil market expansion is bolstered by the heightening need for plant extracts and natural foods in food and beverage goods to be used as pigments, flavorings, and other preservatives. The revenue expansion of citrus oil is accelerated by escalating consumer cognizance of citrus oil as an essential food component.
FRUU Cosmetics debuted the first vegan lip balm collection which was manufactured from recycled fruit extracts.
The spurring demand for vegan extracts in food and drink, cosmetics, and medicines sectors augment citrus essential oil market expansion. The ascending awareness of consumers regarding the boons of lactarian goods has a favorable effect on citrus oil demand.
Regardless of the optimistic anticipation, the citrus oil market growth is inhibited by intensifying pesticide and fertilizer application on farms to boost productivity. Pesticides are not limited to farming; while transportation, chemicals are diffused on fruits to prolong their shelf lives and curb spoilage.
Regional Outlook
North America commands the global organic oil market. North America witnessed growth because of the spurring demand for organic products, associated with booming awareness regarding the wholesomeness of citrus oil.
The augmenting demand in the food and beverage industry and the intensifying traction of aromatherapy in the Asia Pacific strengthen the market growth of citrus oils. The enriching disposable income, and shifting lifestyles lead to the development of the Asia Pacific essential oil market.
"The citrus essential oil market is set to experience sustained growth because of the surging demand for natural components. Stimulus like customer choices for organic goods and broadening implementation in the field of food, beverage, and cosmetics usher the citrus oil market growth." - Nandini Roy Choudhury, Client Partner at Future Market Insights
Key Takeaways
The oranges source category to enjoy a share of 27.50% in 2024.
In the food and beverages end use industry to enthral a share of 23.60% in 2024.
From 2024 to 2034, India citrus essential oil market equates at a CAGR of 6.40%.
China citrus oil market exhibit upsurge at CAGR of 5.30% between 2024 and 2034.
Between 2024 and 2034, Japan citrus oil industry imply growth at a CAGR of 5.10%.
Germany citrus essential oil market reflects expansion between 2024 and 2034 at a CAGR of 2.80%.
The United States citrus oil market indicates a CAGR of 2.10% through 2034.
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Competitive Landscape
The citrus oil manufacturers envision an amplification in the demand owing to the medicinal benefits. This trend indicates citrus oil producers to sanction long-drawn-out agreements with food and beverage and cosmetic and personal care firms to seize a broader customer base to increase the market share. The citrus oil vendors concentrate on partnerships and acquisitions to swell their product portfolio, catering to the strengthening demand.
Pivotal Tangerine Oil Manufacturers
Ultra-International B.V.
Phoenix Aromas and Essential Oils, LLC
Firmenich SA
Givaudan
Symrise AG
Citrus Oleo
Lionel Hitchen (Essential Oils) Ltd
Bontoux S.A.S.
Citrus and Allied Essences Ltd.
Mountain Rose Herbs, Inc.
Citromax S.A.C.I.
doTERRA International, LLC
Young Living Essential Oils LC
Citrosuco
Noteworthy Strategies
In order to expand the retail chain, Plant Therapy Essential Oils Corporate set up new stores across the United States in Arlington, Murray, and Idaho to impart customers better experience in 2021 with novel layout.
Mountain Rose Herbs made ownership changes CEO Shawn Donnille acquired his partner Julie Bailey's some shares, making it a joint ownership from both of them.
Ziegler Group was acquired by Archer Daniels Midland Company (ADM) in March 2019 to expand the product portfolio for citrus oils in the market.
Key Segments
By Source:
Oranges
Tangerines/Mandarins
Grapefruit
Lemon and Lime
By Extraction Method:
Steam Distilled Method
Cold Pressed Method
Hydro-Distillation Method
By Fold Type:
2-4 Folded
5-7 Folded
8-10 Folded
Above 10 Folded
By Grade Type:
Deterpenated Oil
Terpenless Oil
Concentrated Oil
Terpene Oil
By End-use Industry:
Food and Beverage
Personal Care and Beauty Products
Home Care Products
Aromatherapy
Health Care Products
By Sales Channel:
Offline Sales Channel
Supermarkets/Hypermarkets
Departmental Stores
Convenience Store
Other Sales Channel
Online Sales Channel
Company Website
E-commerce Platform
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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