Citrus Oil Market Size, Share & Trends Report

Citrus Oil Market Size, Share & Trends Analysis Report By Product (Orange Oil, Lemon Oil), By Application (Personal Care, Food & Beverages, Aromatherapy), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Aug, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-442-0
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 80

Report Overview

The global citrus oil market size was estimated to be USD 6.31 billion in 2018 and is anticipated to expand at a CAGR of 6.8% from 2019 to 2025. Growing demand for natural products to increase the nutritional value of food and beverages is anticipated to drive the growth. Wide availability and easy accessibility of the product is anticipated to further fuel the demand. Growing application coupled with increasing consumer awareness regarding the benefits of citrus oils is the factors projected to contribute to market growth.

U.S. citrus oil market

Factors such as, changing consumer lifestyle and increasing spending on leisure and relaxation, and increased number of spas and massage centers, particularly in the developing regions like Asia Pacific and Middle East and Africa, are expected to drive the demand for citrus oils. Growing demand for plant-based extracts in food and beverages, cosmetics, and pharmaceuticals among others is projected to fuel the market growth over the forecast period. Rising awareness regarding the benefits of plant-based products is anticipated to positively influence the demand in the near future.

A growing number of wellness centers and clinics and the rising preference for natural medicines is expected to drive the citrus oil market in the upcoming years. Application in personal care and cosmetic products may further fuel the growth. Rising usage of the product as a massage oil for aromatherapy due to a high preference for natural products is projected to bode well for the overall growth.

Demand for citrus essential oil is higher than the supply, leading to increased prices. Asia Pacific is expected to witnessing high demand owing to the growing use of essential oils in various food and cosmetic preparations. Europe and the U.S. are also expected to witness a significant rise in demand. Europe citrus oil market is fueled by increasing demand for essential oil to enhance the nutritional value of food and beverages, while, the demand in the U.S. is fueled by significant use of the product in aromatherapies.

Product Insights

Orange oil segment held the largest market share of around 29% in 2018. The rise in demand for cosmetics and skincare products used for skin rejuvenation is anticipated to bode well for the segment growth. Orange oil has antiseptic and anti-inflammatory properties, making it the ultimate ingredient for skin and hair care. Research studies suggest that regular use of these products boosts blood circulation, absorption of vitamin C, and collagen production all of which are essential to prevent and slow the signs of aging. These products also help improve the health of skin, hair, and nails. Rising consumer awareness regarding these advantages is projected to bode well for the segment growth.

Lemon oil is anticipated to expand at the fastest CAGR of 7.6% over the forecast period. Rising use in detergents and teeth whiteners is fueling the growth. The product is also used in face washes for smoother skin and clearer complexion. Lemon oils contain d-limonene which helps treat cancer. This factor is expected to increase the use of the product in the pharmaceutical sector, fueling the overall growth in the forthcoming years.

Application Insights

The personal care segment is projected to continue holding the largest market share over the forecast period. Rising use of the products such as lemon and grapefruit oil in skincare products, owing to their antiseptic and antibacterial properties is projected to drive the growth of the segment over the forecast period.

Food and beverages held a significant market share in 2018. Citrus oils are used for adding a refreshing and sweet flavor to smoothies, tea, packaged water, and baked items such as muffins and cookies. Citrus oils are also used for adding flavor to yogurts and dips among other products. This factor is projected to drive the growth of the segment in the forthcoming years.

Global citrus oil market

Personal care is anticipated to expand at the fastest CAGR of around 7% over the forecast period. Increasing demand for cosmetics with natural ingredients is expected to boost the growth of the segment. Factors such as changing consumer lifestyle and increasing the use of natural makeup products are anticipated to boost the growth of the segment in the upcoming years.

Rising application in bathing, massage, diffusers, shower, and other products is anticipated to fuel the segment growth. Growing demand for aromatic and therapeutic oils has also resulted in the steady growth of the market. High demand for therapeutic oils from several Eastern countries is anticipated to bode well for the overall market. Growing awareness regarding the benefits of these products among the urban population is also driving the demand.

Regional Insights

Europe held the largest market share of 39.5% in 2018 due to increasing consumer awareness and demand for natural cosmetics, beauty products, and medicines. Germany is anticipated to remain the major market in terms of product consumption followed by U.K.

North America is projected to be the second-largest market, owing to high consumer awareness and availability of a wide range of sophisticated products. The U.S. is one of the largest global importers of the product, owing to the growing demand for a natural ingredient in cosmetics and food and beverages.

Asia Pacific is expected to expand at the fastest CAGR of 8.4% over the forecast period, owing to high demand from the food and cosmetic industries. Increasing number spas and massage centers are expected to positively influence the regional demand over the forecast period.

Key Companies & Market Share Insights

The market is highly fragmented in nature. Increasing application of the products in nutraceutical, functional food, and dairy supplements due to its high phenolic content is anticipated to create growth opportunities for the market participants. The nutraceutical industry is expected to witness significant growth, fueling the product demand over the forecast period. Some of the major market players are Young Living Essential Oils, Plant Therapy Essential Oils, TERRA Holdings, LLC, Moksha Lifestyle Products Farotti Essenze, and Mountain Rose Herbs, among others.

Citrus Oil Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 7.14 billion

Revenue forecast in 2025

USD 10.03 billion

Growth Rate

CAGR of 6.8% from 2019 to 2025

Base year for estimation

2018

Historical data

2015 - 2017

Forecast period

2019 - 2025

Quantitative units

Revenue in USD million/billion and CAGR from 2019 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; U.K.; Germany; China; India; Brazil

Key companies profiled

Young Living Essential Oils; Plant Therapy Essential Oils; TERRA Holdings; LLC; Moksha Lifestyle Products Farotti Essenze; Mountain Rose Herbs

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Grand View Research has segmented the global citrus oil market report based on product, application, and region:

  • Product Outlook (Revenue, USD Million, 2015 - 2025)

    • Orange Oil

    • Lemon Oil

    • Lime Oil

    • Grapefruit Oil

    • Others

  • Application Outlook (Revenue, USD Million, 2015 - 2025)

    • Personal Care

    • Food & Beverages

    • Pharmaceuticals

    • Aromatherapy

  • Region Outlook (Revenue, USD Million, 2015 - 2025)

    • North America

      • The U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

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