Growing demand for healthy food products has led to an upsurge in demand for citrus oil in the food and beverages industry. In addition, surge in demand for range of artificial drink concentrates is projected to contribute towards growth of the global market positively. According to a recently compiled report by Fact.MR, the global citrus oil market is projected to register a CAGR of 5.4% over the forecast period, 2017-2022.
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Factors Fuelling Growth of the Global Market
Growth of the global citrus oil market is bound to several micro-economic and macro-economic factors. Consumption of the citrus oil continues to remain high in the food and beverage industry attributed to several health-related benefits. With growing demand for artificial drink concentrates, growth of the global citrus oil market is projected to increase in the upcoming years. Moreover, the manufacturers increasingly use citrus oil in order to enhance the flavor of the beverage and food products. Bound to these factors, citrus oil is projected to witness an upsurge in demand in the food and beverages industry globally.
In addition to the food and beverages industry, demand for citrus oil is projected to witness an upsurge in the aroma industry. Refreshing and relaxing fragrance products including bath additives, and massage oil continue to witness an upsurge in demand for aromatherapy. Moreover, use of fragrance products with an uplifting aroma for treatment of depression is further likely to contribute towards growth of the global citrus oil market. Apart from food and beverages, and aroma industry, demand for citrus oil will continue to remain high in the cosmetic and personal care industry. Manufacturers in the cosmetic industry prefer using citrus oil in range of products as it helps in clearing the excess oil, and dead skin. Citrus oil is further known as the natural toner, and is increasingly used in a range of skin products. These factors are likely to encourage progress of the global citrus oil market over the forecast period.
While the overall outlook of the global market growth seems to remain positive, growing prevalence of allergic reactions during application of aromatherapy products is likely to dip demand for citrus oil. Moreover, application and inhalation of various personal care and cosmetic products could result in allergic reactions that cause irritation, asthma, and redness. Application of citrus oil can further lead to deep skin burns as it is sensitive to the ultraviolet rays. These factors are likely to inhibit growth of the global citrus oil market over the forecast period.
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|Region||North AmericaLatin AmericaEuropeJapanAPEJMEA|
|Product Type||Orange OilLemon and Lime OilOthers|
|Extraction Method||DistillationSolvent extractionCold PressingOther Extraction Method|
|Application||Personal care and cosmeticFood and beveragePharmaceuticalAromatherapyIndustrialOther Application|
|Sales channel||Specialty storeModern TradeDrug StoresOnline StoreOther Sales Channel|
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Report Benefits & Key Questions Answered
- Citrus Oil Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Citrus Oil Market Historical volume analysis: The report provides a comparison of Citrus Oil Market historical sales and projected sales performance for 2021-2031.
- Citrus Oil Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Citrus Oil Market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Citrus Oil Market Consumption by demographics: The report investigates consumer behavior affecting Citrus Oil Market demand outlook for the assessment period. Effect of their keenness for digital trends on Citrus Oil Market market is carefully analyzed
- Post COVID consumer spending on Citrus Oil Market: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Citrus Oil Market market growth
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