Authored By: Sarah
11 Jul 2024

 Citrus Oils Market Size to grow by USD 944.8 million between 2024-2028

According to a research report “ Citrus Oils Market” by Application (Food and beverages, Pharmaceuticals and cosmetics, Others) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 944.8 million, at a CAGR of  4.5% during the forecast period. The natural ingredients market has experienced significant growth due to increasing consumer health consciousness. Among these natural ingredients, citrus oils have gained considerable attention. These oils offer numerous benefits, including antimicrobial, antioxidant, antiseptic, antibacterial, weight loss-aiding, uplifting, diuretic, and right brain-stimulating properties. As a result, the food and beverage industry is increasingly replacing artificial flavors and ingredients with natural ones, such as citrus oils. This trend is particularly prominent in the nascent natural food and beverage products market.

Browse market data tables, figures, and in-depth TOC on “Citrus Oils Market” by Application (Food and beverages, Pharmaceuticals and cosmetics, Others) Geography (Europe, North America, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Application, the Food and beverages segment is projected to dominate the market size in 2024

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By Geography, Europe  segment is expected to hold the largest market size for the year 2024

The burgeoning health consciousness trend among consumers is driving the demand for natural ingredients in food and beverage products, leading to a significant increase in the utilization of citrus oils. These oils, derived from citrus fruits, offer numerous health benefits, including antioxidant, anti-cancer, antiseptic, antibacterial, weight loss-aiding, mood-enhancing, diuretic, right brain-stimulating, anticoagulant, acid neutralizing, anti-depressant, and immunity-stimulating properties. Vendors, such as Lionel Hitchen Limited, cater to this demand by providing citrus oils for use in beverages, dairy products, confectionery, and bakery items. The beverage sector, in particular, is experiencing growth due to factors like rising sports activities, diverse flavor offerings, and enhanced packaging. This market trend, coupled with the health benefits associated with citrus oils, is expected to fuel the growth of this segment.

Europe is forecasted to hold the largest market size by region in 2024

The Citrus Oils Market represents a significant business opportunity due to the increasing demand for natural ingredients in various industries. Key players in this market include D.O.P. Citrus from Spain, Citromax from the USA, and Azarab S.A. from Argentina. These companies leverage advanced technologies to extract high-quality citrus oils, catering to sectors such as food and beverage, perfumes and cosmetics, and pharmaceuticals. The market is expected to grow steadily due to rising health consciousness and the versatility of citrus oils in diverse applications.

The Citrus Oils Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Archer Daniels Midland Co.
  • Aromaaz International
  • BONTOUX SAS
  • CITROMAX
  • Citrosuco
  • Citrus and Allied Essences Ltd.
  • Citrus Oleo
  • Dohler GmbH
  • doTERRA International LLC
  • Edens Garden
  • Firmenich SA
  • Givaudan SA
  • Lionel Hitchen Ltd.
  • Mountain Rose Herbs
  • Plant Therapy
  • Symrise AG
  • Takasago International Corp.
  • TREATT Plc
  • Ultra International BV
  • Young Living Essential Oils LC
.

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Research Analysis Overview

The Citrus Oil Market is a significant segment of the essential oils industry, with major contributions from Bergamot oil, Orange oil, Lemon oil, Tangerine oil, and other Citrus Peel oils. These natural plant extracts are widely used in various industries, including Fragrances, Functional food ingredients, and Colorants, primarily in Food & Beverage products, massage amenities in Spas, Cosmetics, and Industrialized countries. Despite their numerous benefits, Citrus oils face challenges due to their Perishable nature and High price. The production of these oils is dependent on Weather conditions, making their availability inconsistent. Bergamot oil, for instance, is mainly sourced from Southern Italy and Calabria, where the climate is suitable for its growth. Major players in the Citrus Oil Market include Symrise AG, a leading global supplier of Essential oils, Fragrances, and Functional Ingredients. Consumer behavior towards Natural Ingredients and Plant extracts is driving the demand for Citrus oils. Technology plays a crucial role in the production and extraction of these oils, ensuring their high-quality standards are met. Citrus essential oils are not just limited to their use in fragrances but also serve as Functional food ingredients, adding flavor and health benefits to various dishes. Overall, the Citrus Oil Market is expected to grow steadily, driven by increasing demand from various industries and consumer preferences.

Market Research Overview

The Citrus Oils Market is experiencing significant growth due to product innovation, mergers, and the increasing demand for natural ingredients in various industries. Citrus oils, including Rosemary oil, are widely used in weight loss supplements, digestive system support, and acne treatment. They are also popular in skin cleansers, skin lightening, and skin brightening products due to their antioxidant properties and high Vitamin C content. Limonene, a major component of citrus oils, is used as a food preservative and in fragrances for perfumes, colognes, and aromatherapy. Citrus oils, such as Grapefruit oil, Bergamot oil, Orange oil, and Lemon oil, are used as flavorants in food and beverage products, including salads, beverages, and bakery items. Citrus oils have additional health benefits, including cancer chemopreventive, immunomodulatory, and antimicrobial properties. They are used in alternative medicine for physical and mental health, and in toiletry products such as shampoo, creams, serums, and cosmetic products. The Citrus Oil Market faces challenges due to its perishable nature, high price, and production costs. Price variability is also a concern due to illnesses, bugs, and weather conditions that can affect citrus crops. However, the market is expected to continue growing due to increasing consumer demand for natural ingredients and the expanding use of citrus oils in various industries. Key players in the Citrus Oil Market include Symrise AG, Essential oils, and Citrus essential oil manufacturers. The market is segmented into the aromatherapy segment, cosmetics segment, personal care, food & beverage segment, and industrial applications. Citrus peel oil and Citrus fruit extracts are also gaining popularity in the market. In conclusion, the Citrus Oils Market is expected to continue growing due to product innovation, increasing demand for natural ingredients, and expanding applications in various industries. However, challenges such as production costs, price variability, and perishable nature remain. The market is segmented into aromatherapy, cosmetics, personal care, food & beverage, and industrial applications. Key players include Symrise AG, Essential oils, and Citrus essential oil manufacturers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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