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Citrus Oil Market - Forecasts from 2022 to 2027

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    Report

  • 140 Pages
  • January 2023
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5716750

Citrus Oil Market is projected to grow at a CAGR of 8.86% to reach US$2.075 billion by 2027, from US$1.146 billion in 2020.

Citrus oils are concentrated oils that are extracted from citrus species (plants) such as orange, lemon, grapefruit, etc. The essential oils are extracted from a method known as cold pressing., in which pressure is applied to squeeze the oils from the rind. These oils are known for their health and wellness benefits such as boosting mood, dealing with anxiety or irritability, providing ease to the skin, and protecting against antioxidants to name a few. Citrus oils come under the broad category of essential oils. They are popularly known to soothe and calm one’s skin. They are highly praised for their benefits in the personal care category. Moreover, the disposable income of families is increasing. However, due to increased socialization and digitalization, people are also aware of health concerns in present times.

Increasing demand for aromatherapy will certainly propel market growth.

The demand for citrus oils has been increasing due to a shift in consumer preferences toward self-care activities, aromatherapy being one among them. As people tend to understand the intensity of mental health issues such as anxiety which has become quite common among youngsters due to the present lifestyle. They are actively looking for a solution, which will help them to ease it.

Furthermore, as per recent research, the role of aromatherapy massage in a large multicenter trial of cancer patients that experienced anxiety and/or depression was studied. These patients experienced significant improvement in anxiety and/or depression for the six-week randomization study, in comparison to those receiving usual care alone. Anxiety and depression are rated in the top five conditions for self-care with complementary therapies among the US population in statistics on Complementary Alternative Medicine (CAM). Aromatherapy includes natural products, which are also ranked as No. 1 in the most popular category by CAM use. Clinical Aromatherapy, a sub-specialty practiced by nurses with advanced aromatherapy education, is the therapeutic use of essential oils to achieve measurable outcomes for a healthcare condition.

Rising concerns over health are shifting the consumption of products made from natural and organic ingredients.

The demand for citrus oil is driven by the continuously changing lifestyle and the increasing spending on leisure and relaxation by people. It is also augmented by the increasing awareness about the benefits of citrus oil in weight loss and fighting cancer. Furthermore, the increasing demand for plant-based products and the increasing number of wellness centers and clinics will also support the growth of the market during the forecast period.

Market Developments

  • In June 2021, Orange House™ announced the launch of their product line of cleaning agents, containing orange oil, known as Orange House™ Liquid Laundry Detergent in the US. The product is toxic-free, phosphate-free, and hypoallergenic and it safely removes dirt and odors from the skin, clothes, and multiple household surfaces. The product is completely sustainable and is certified by the European regulators Ecocert and the USDA. Orange House™. It is available online on the Amazon website.
  • In February 2022, Woah, a new skincare brand was developed by NEXT, a high-street retail giant. A variety of products such as cleansers, moisturizers, serums, toners, and face creams are launched. The product is categorized into 6 skin categories. One of them is Refresh which includes bergamot essential oil.
  • In May 2022, Blossom Kochhar Aroma Magic announced the launch of their summer smooth combo. The product combo of this launch is said to be healthy for the skin. Along with that, it provides the required nourishment to the skin. Their product such as turmeric cleaner contains grapeseed oil which helps to rebalance and soothe the skin.

Asia Pacific is expected to hold a significant share during the anticipated period.

The countries in the Asia Pacific region are undergoing rapid urbanization and modernization, due to which the millennials and Gen Z are actively following practices and trends such as aromatherapy, which are quite popular in European countries, therefore it has led to increasing demand for citrus oils in these regions. Furthermore, in order to meet the rising demand, the market players are actively working on expansion strategies. For example, in July 2022, the world leader in essential oils, doTERRA announced its expansion plans in India. Similarly, in October 2021, in New Delhi, India, Bella Vita Organic announced the launch of their ayurvedic essential oils. The products are 100% ayurvedic and natural. Along with that, they are provided at affordable rates. The product line comes in nine different types of oil, such as lemongrass, orange, lavender, and a few others. The range has been decided to keep in mind universal preferences and likings such as floral, plant-based, strong, and mild. The oils help in reducing acne, dark spots, rashes, inflammation, and hair fall. They also have a calming effect on the person applying them.

Market Segmentation:

By Type

  • Orange Oil
  • Lemon Oil
  • Grapefruit Oil
  • Bergamot Oil
  • Others

By Application

  • Food & Beverage
  • Cosmetics and Personal Care Products
  • Pharmaceuticals
  • Aromatherapy

By Geography

  • North America
  • USA
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Spain
  • Others
  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • Others
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Taiwan
  • Thailand
  • Others
Frequently Asked Questions about the Citrus Oil Market

What is the estimated value of the Citrus Oil Market?

The Citrus Oil Market was estimated to be valued at $1.15 billion in 2020.

What is the growth rate of the Citrus Oil Market?

The growth rate of the Citrus Oil Market is 8.8%, with an estimated value of $2.08 billion by 2027.

What is the forecasted size of the Citrus Oil Market?

The Citrus Oil Market is estimated to be worth $2.08 billion by 2027.

Who are the key companies in the Citrus Oil Market?

Key companies in the Citrus Oil Market include Citromax Flavors, Inc., ICCC, Florida Chemical Company, Lebermuth, Inc, Citrus Oleo, Cedarome, BERJÉ INC., doTERRA and Rocky Mountain Oils, LLC.

Table of Contents

INTRODUCTION
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions

EXECUTIVE SUMMARY
3.1. Research Highlights

MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

CITRUS OIL MARKET, BY TYPE
5.1. Introduction
5.2. Orange Oil
5.3. Lemon Oil
5.4. Grapefruit Oil
5.5. Bergamot Oil
5.6. Others

CITRUS OIL MARKET, BY APPLICATION
6.1. Introduction
6.2. Food & Beverage
6.3. Cosmetics and Personal Care Products
6.4. Pharmaceuticals
6.5. Aromatherapy

CITRUS OIL MARKET, BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. USA
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. United Kingdom
7.4.4. Spain
7.4.5. Others
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. UAE
7.5.3. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. Japan
7.6.3. South Korea
7.6.4. India
7.6.5. Taiwan
7.6.6. Thailand
7.6.7. Others

COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

COMPANY PROFILES
9.1. Citromax Flavors, Inc.
9.2. ICCC
9.3. Florida Chemical Company
9.4. Lebermuth, Inc
9.5. Citrus Oleo
9.6. Cedarome
9.7. BERJÉ INC.
9.8. dōTERRA
9.9. PLANT THERAPY ESSENTIAL OILS
9.10. Rocky Mountain Oils, LLC

Companies Mentioned

  • Citromax Flavors, Inc.
  • ICCC
  • Florida Chemical Company
  • Lebermuth, Inc
  • Citrus Oleo
  • Cedarome
  • BERJÉ INC.
  • dōTERRA
  • PLANT THERAPY ESSENTIAL OILS
  • Rocky Mountain Oils, LLC