Citrus Oil Market SWOT Analysis, Business Growth Opportunities by Top Companies, Future Challenges, Competitive Strategies and Forecast to 2030

According to a new study by FMI, sales of citrus oil is expected to reach ~ US$ 3500 Mn in 2019. Growing prevalence of aromatherapy has led to an upsurge in personal care products for both men and women in recent years. Aromatherapy is the use of aromatic substances for relaxation, rejuvenation, and in the treatment of certain minor physical conditions. Practitioners of this method consider that the aroma of natural, organic, and therapeutic oils can have several beneficial effects on the body. Citrus oils can be used in various ways such as in massage, bathing, shower, inhalation, perfume, and others. A recently published report reveals that the global market of citrus oil is projected to reflect a steady CAGR growth over the predicted period, 2019 – 2028.

Citrus Oils Market Segmentation

Citrus oils enjoys a major share in essential oils owing to its wide usage as industrial solvents, fragrance for cleaning products, flavoring agents, aroma and therapeutic properties. Food industry is the dominant segment where citrus oils are widely used, followed by usage in spa and massage parlors.

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Citrus oils can be segmented on the basis of type which includes orange oil, bergamot oil, lemon oil, lime oil, mandarin oil and grapefruit oil. Among all these types, orange oil is readily available and the most inexpensive of all essential oils. Due to its aromatic and blending properties, and wide usage as commercial cleaners, orange oil market is expected to grow quickly in the forecast period.

Citrus oils can also be segmented on the basis of application. The citrus oils finds its application in food industry, cosmetics and fragrances preparation and as therapeutic massage oils. Food industry is the leading segment in terms of usage of citrus oils as solvents due to its antibacterial and antiseptic properties and are also recognized as GRAS (Generally recognized as safe). Citrus oils such as grapefruit oils and lemon oils are intensively used for massages and skin treatment, owing to their antiseptic, antibacterial and immune stimulating properties.

Geographically, Europe is expected to be the largest market in terms of value for citrus oils, owing to increasing consumer sophistication, demand for natural cosmetics, fragrance, beauty products and medicines. Among the countries, Germany is expected to remain major markets in terms of consumptions for citrus oils followed by U.K. North America is expected to be the second largest market for the citrus oils in terms of consumption, being a developed nations the consumers are more sophisticated compared to consumers in other parts of the world. U.S. is expected to drive the growth and also regarded as major importers of citrus oils. Asia Pacific is expected to grow rapidly and expected to be the fastest growing region for citrus oils owning increasing in demand of citrus oils in food industry across the region followed by the demand from the growing number spas and massage parlors and less regulative conditions.

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Citrus Oils Market Drivers

With the increasing demand of natural products, the consumers are inclined towards using natural fragrance as compared to artificial one, clubbed with the changing life style focused more towards relaxation and leisure in the developing region with simultaneous increase in number of spa and massage centers is expected to drive the usage of citrus oils.
Wide acceptability and availability of different types of citrus oils is also expected to contribute in the growth of citrus oils market. Rising application of citrus oils and growing consumer awareness regarding benefits of these oils is expected to spur their demand in the developing and developed regions.

Citrus Oils Market: Key Players

Citrus oils market remain concentrated between the few major players resulting in entry barriers for new participants. On the other hand increasing concerns due resource depletion are expected to remain a key challenge for the major players. Oil production requires high capital investment with advanced equipment, leading to the domination of numerous multinational corporations in the industry.

Major companies operating in the global citrus oils industry include Young Living Essential Oils, d?TERRA Holdings, LLC, Plant Therapy Essential Oils, Mountain Rose Herbs, Farotti Essenze and Moksha Lifestyle Products among others.

The report covers exhaustive analysis on:

  • Citrus Oils Market Segments
  • Citrus Oils Market Dynamics
  • Historical Actual Market Size, 2013 – 2015
  • Citrus Oils Market Size & Forecast 2016 to 2026
  • Supply & Demand Value Chain
  • Citrus Oils Market Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain
  • Citrus Oils Market Drivers and Restraints

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Regional analysis for Citrus Oils Market includes

  • North America
    • US & Canad
  • Latin America
    • Brazil, Argentina & Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
  • Asia Pacific
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • Middle East and Africa
    • GCC Countries
    • Other Middle East
    • North Africa
    • South Africa
    • Other Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

  • Detailed overview of parent market
  • Citrus Oils changing market dynamics of the industry
  • Citrus Oils Market in-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Citrus Oils Market Recent industry trends and developments
  • Citrus Oils Market Competitive landscape
  • Citrus Oils Market Strategies of key players and product offerings
  • Potential and niche segments/regions exhibiting promising growth
  • A neutral perspective towards market performance
  • Must-have information for market players to sustain and enhance their market footprint

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