Global Citrus Oil Market size was valued at USD 8.70 Billion in 2022 and is expected to reach USD 16.2 Billion by 2032, at a CAGR of 5.1% during the forecast period 2023 – 2032.
Citrus Oil Market – Overview
Citrus oil refers to essential oils extracted from the peels, leaves, flowers, and fruits of citrus plants, such as oranges, lemons, limes, grapefruits, and mandarins. These oils are known for their distinct aroma and are used in various industries, including food and beverages, cosmetics, and aromatherapy.
Trending factors in the citrus oil market include the rising demand for natural and organic products, driven by health-conscious consumers. The popularity of aromatherapy and natural fragrances has boosted the use of citrus oils in personal care and wellness products.
Additionally, their versatile flavor profiles contribute to the increasing demand in the food and beverage industry. Growing awareness of the potential health benefits associated with citrus oils, such as antioxidants and antimicrobial properties, further propels market growth.
The market is also influenced by changing consumer preferences, favoring exotic and unique flavors in various consumer goods. For instance, Givaudan and Manus Bio have partnered on the launch of BioNootkatone, a sustainable, natural, clean-label citrus flavor ingredient that is intended to be used in a variety of food and beverages.
BioNootkatone is the result of Givaudan’s analytical, flavor and processing abilities combined with the application of Manus Bio’s BioAssemblyLine Cell Factory engineering platform.
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By source, the orange segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Oranges dominate the citrus oil market due to their versatile applications, large-scale production, and high oil yield.
Orange oil, extracted from the peels, is widely used in the food and beverage industry for flavoring, contributing to its significant market share. Its refreshing and sweet aroma also makes it a popular choice in aromatherapy and fragrance formulations.
Moreover, the global popularity of orange-based products, including juices and essential oils, has propelled oranges to the forefront of the citrus oil market. The fruit’s abundant availability and economic viability further solidify oranges as a dominant and influential player in the industry.
By extraction method, the steam distillation segment held the highest market share in 2022. Modern trends in steam distillation have positively impacted the citrus oil market. Continuous innovation and advanced distillation technologies enhance the efficiency and quality of citrus oil extraction.
Precise temperature control, reduced processing times, and optimized equipment contribute to higher yields of superior-quality oils. This increased efficiency aligns with the growing demand for natural and pure citrus oils in various industries, including aromatherapy, food, and cosmetics.
Custom Market Insights has comprehensively analyzed citrus oil market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenarios of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this citrus oil industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Citrus Oil Market:
- Symrise AG
- Citrus and Allied Essences Ltd.
- Young Living Essential Oils
- DoTERRA International LLC
- Lionel Hitchen Essential Oils Ltd.
- Citrosuco
- Firmenich SA
- Givaudan SA
- Biolandes
- Citromax S.A.C.I.
- Citrus Oleo
- Bontoux S.A.
- Citrus and Allied Essences Ltd.
- International Flavors & Fragrances Inc. (IFF)
- Mountain Rose Herbs
- Citrus India
- Ventós, S.A.
- Bontoux Inc.
- Lionel Hitchen (Essential Oils) Ltd.
- McCormick & Company Inc.
- Others
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