Citrus Oil Market Analysis, Development, and Forecast by 2031

The citrus oil market is expected to register a CAGR of 4% during 2023–2031. The growing demand for aromatherapy among consumers is likely to remain a key trend in the market.

Citrus Oil Market Analysis

• The growing trend of consumer preference for natural and organic products is expected to fuel the citrus oil demand in the next few years.
• The increase in demand for natural ingredients in the cosmetics, personal care, food and beverage industries is expected to augment the citrus oil market.

Citrus Oil Market Overview

• This increase in demand for citrus essential oil is due to the changes in the consumer behaviour of using natural products as consumer awareness is increasing. Citrus fruits, the raw material for citrus peel oil manufacturing, are widely available and are the driving force behind increasing its production and reduction in prices.
• Citrus oil from essential oils is more expensive than that of ordinary oils and is not meant for a larger number of consumers. The lack of consumer awareness about the benefits of tangerine oil also hinders the industry's growth.

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Citrus Oil Market: Strategic Insights

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Citrus Oil Market Drivers and Opportunities

Growing Preference for Plant-Based Products

• Natural and plant-derived ingredients are being preferred by consumers in the food and beverages, cosmetics and personal care sectors.
• Citrus oils are increasingly being used for their natural fragrance and health benefits in these products.
• As the popularity of aromatherapy and essential oils for various therapeutic uses increases, demand for citrus oils is growing. These oils contain compounds that have pleasant aromas, which can enhance mood and relieve stress.

Rising Adoption of Food and Beverage Industry

• Citrus oils are used in the food and beverage industry as a flavouring and aroma component of bakery products, beverages and salads.
•  It is anticipated that demand for citrus oils in this application will continue to grow.

Citrus Oil Market Report Segmentation Analysis

Key segments that contributed to the derivation of the citrus oil market analysis are deployment type and enterprise size.

• Based on product type, the citrus oil market is divided into orange oil, lemon oil, lime oil, grapefruit oil, and others.
• Based on extraction method, the citrus oil is segregated into seam distillation, cold pressed, and hydro distillation.
• Based on distribution channel, the citrus oil is segmented into retail store, specialty store, online store, and others.
• Based on application, the citrus oil market is categorized into food and beverages, personal care and cosmetics, aromatherapy, pharmaceuticals, and others.

Citrus Oil Market Share Analysis by Geography

• Citrus Oil Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering citrus oil market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers porter’s five forces analysis, which involves the study of major factors that influence the citrus oil market in these regions.

Citrus Oil Market Regional Insights

The regional trends and factors influencing the Citrus Oil Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Citrus Oil Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Citrus Oil Market Report Scope

Citrus Oil Market Players Density: Understanding Its Impact on Business Dynamics

The Citrus Oil Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Citrus Oil Market are:

1. Bontoux
2. Citromax S.A.C.I.
3. Citrosuco
4. Citrus and Allied Essences Ltd.
5. Citrus Oleo
6. Lionel Hitchen Limited

Disclaimer: The companies listed above are not ranked in any particular order.

Citrus Oil Market News and Recent Developments

The citrus oil market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the citrus oil market are listed below:

• Ultra International and Ecospice Ingredients PVT. LTD have joined forces to create an exciting partnership and a new portfolio of products. Ultra’s expertise in sourcing organic raw materials and essential oils and its focus on sustainability, combined with Ecospice’s dedication to eco-friendly practices, means this collaboration will provide a sustainable solution to custom. (Source: Ultra International B.V., Company News, Feb 2024)

Citrus Oil Market Report Coverage and Deliverables

The “Citrus Oil Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Citrus oil market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Citrus oil market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Citrus oil market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the citrus oil market
• Detailed company profiles