[Latest] Global Citrus Oil Market Size/Share Worth USD 16.2

Austin, TX, USA, Feb. 19, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Citrus Oil Market Size, Trends and Insights By Source (Oranges, Tangerines, Grapefruit, Lemon, Others), By Extraction Method (Steam Distillation, Cold Pressed, Hydro-Distillation), By Grade Type (Deterpenated Oil, Terpene Oil), By Distribution Channel (Offline, Offline), By End-Use Industry (Food & Beverages, Personal Care & Cosmetics, Aromatherapy, Pharmaceuticals, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand of global Citrus Oil Market size & share was valued at approximately USD 8.3 Billion in 2022 and is expected to reach USD 8.70 Billion in 2023 and is expected to reach a value of around USD 16.2 Billion by 2032, at a compound annual growth rate (CAGR) of about 5.1% during the forecast period 2023 to 2032.”

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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.

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.

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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.

The adoption of sustainable practices in steam distillation further appeals to environmentally conscious consumers, fostering the citrus oil market’s growth by meeting both quality and sustainability expectations.

By grade type, the deteriorated oil segment held the highest market share in 2022. Deterpenated citrus oil, characterized by reduced terpene content, is witnessing a growing demand driven by several market trends.

The cosmetic and fragrance industries increasingly prefer deteriorated oils for their enhanced stability and reduced phototoxicity, meeting stringent regulatory standards.

Moreover, in applications like flavourings and fragrances, deteriorated citrus oil offers a milder aroma profile, contributing to the rising trend of nuanced and sophisticated scents in consumer products.

As the market gravitates toward safer and more versatile ingredients, the demand for deteriorated citrus oil is on the rise, influencing the overall growth of the citrus oil market.

By distribution channel, the offline segment dominated the citrus oil market. Offline distribution channels play a crucial role in driving the citrus oil market, with notable trends including the expansion of specialty stores, health and wellness retailers, and farmer’s markets.

Consumers seeking citrus oils for aromatherapy and culinary uses often prefer hands-on experiences and personalized guidance, fostering the importance of physical retail spaces. The rising trend of in-store experiences and the ability to sample products enhances customer engagement, contributing to the overall growth of the citrus oil market through offline channels.

Additionally, the presence of knowledgeable staff in these outlets further educates consumers on the diverse applications and benefits of citrus oils.

By end-use industry, the food & beverage segment dominated the citrus oil market. In the food & beverage industry, the citrus oil market is bolstered by current trends favoring natural and exotic flavors. Consumers increasingly seek clean-label and health-conscious products, driving the demand for natural flavor enhancers like citrus oils.

The trend towards unique and diverse culinary experiences has propelled the use of citrus oils in beverages, confectionery, and savoury dishes. As the industry embraces innovation and premiumization, citrus oils, with their vibrant and refreshing profiles, play a pivotal role in meeting consumer preferences for authentic, natural, and sophisticated flavor profiles, contributing to their sustained growth in the food & beverage sector.

Asia-Pacific held the highest market share in the citrus oil market in 2022 and is expected to keep its dominance during the forecast period 2024-2032. In the Asia-Pacific region, a notable trend driving the citrus oil market is the growing popularity of natural and traditional remedies.

Consumers are increasingly embracing the use of citrus oils in traditional medicine, aromatherapy, and wellness practices. The cultural significance of natural ingredients, coupled with a rising awareness of health and holistic lifestyles, has led to an upsurge in demand for citrus oils in countries like China, India, and Southeast Asian nations.

This trend reflects a shift towards incorporating natural solutions, contributing to the expansion of the citrus oil market in the dynamic and health-conscious Asia-Pacific region.

(A free sample of the Citrus Oil report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Citrus Oil report has been modified to include the COVID-19 impact study prior to delivery.)

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Report Scope

Feature of the Report	Details
Market Size in 2023	USD 8.70 Billion
Projected Market Size in 2032	USD 16.2 Billion
Market Size in 2022	USD 8.3 Billion
CAGR Growth Rate	5.1% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Source, Extraction Method, Grade Type, Distribution Channel, End-Use Industry and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

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Key questions answered in this report:

What is the size of the Citrus Oil market and what is its expected growth rate?
What are the primary driving factors that push the Citrus Oil market forward?
What are the Citrus Oil Industry's top companies?
What are the different categories that the Citrus Oil Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Citrus Oil market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2023−2032
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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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.

Citrus Oil Market – Regional Insight

By region, citrus oil market is segmented into North America, Europe, Asia-Pacific and LAMEA. The Asia-Pacific dominated the global market in 2022 with a market share of 40% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.

The Asia-Pacific region dominates the citrus oil market due to its rich cultivation of citrus fruits, including oranges, lemons, and mandarins. Countries like China and India are major contributors to citrus oil production.

The region’s favourable climate supports extensive citrus cultivation, ensuring a robust and consistent supply of raw materials for oil extraction. Additionally, the increasing demand for natural and aromatic products in Asia-Pacific, driven by cultural preferences and a growing focus on health and wellness, further boosts the prominence of citrus oils.

The combination of abundant citrus resources and rising consumer preferences positions the Asia-Pacific region as a key player in the global citrus oil market.

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Browse the full “Citrus Oil Market Size, Trends and Insights By Source (Oranges, Tangerines, Grapefruit, Lemon, Others), By Extraction Method (Steam Distillation, Cold Pressed, Hydro-Distillation), By Grade Type (Deterpenated Oil, Terpene Oil), By Distribution Channel (Offline, Offline), By End-Use Industry (Food & Beverages, Personal Care & Cosmetics, Aromatherapy, Pharmaceuticals, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” Report at https://www.custommarketinsights.com/report/citrus-oil-market/

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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The Citrus Oil Market is segmented as follows:

By Source

Oranges
Tangerines
Grapefruit
Lemon
Others

By Extraction Method

Steam Distillation
Cold Pressed
Hydro-Distillation

By Grade Type

Deterpenated Oil
Terpene Oil

By Distribution Channel

Offline
Online

By End-Use Industry

Food & Beverages
Personal Care & Cosmetics
Aromatherapy
Pharmaceuticals
Others

Click Here to Get a Free Sample Report of the Global Citrus Oil Market @ https://www.custommarketinsights.com/report/citrus-oil-market/

Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Citrus Oil Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Citrus Oil Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Citrus Oil Market? What Was the Capacity, Production Value, Cost and PROFIT of the Citrus Oil Market?
What Is the Current Market Status of the Citrus Oil Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Citrus Oil Market by Considering Applications and Types?
What Are Projections of the Global Citrus Oil Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Citrus Oil Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Citrus Oil Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Citrus Oil Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Citrus Oil Industry?

Click Here to Access a Free Sample Report of the Global Citrus Oil Market @ https://www.custommarketinsights.com/report/citrus-oil-market/

Reasons to Purchase Citrus Oil Market Report

Citrus Oil Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Citrus Oil Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Citrus Oil Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Citrus Oil Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Citrus Oil market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

Buy this Premium Citrus Oil Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/citrus-oil-market/

What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Citrus Oil market analysis.

The competitive environment of current and potential participants in the Citrus Oil market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Citrus Oil market should find this report useful. The research will be useful to all market participants in the Citrus Oil industry.
Managers in the Citrus Oil sector are interested in publishing up-to-date and projected data about the worldwide Citrus Oil market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Citrus Oil products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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