Persistence Market Research (PMR) delivers key insights on the global Citrus Oils market in its upcoming outlook titled, “Citrus Oils Market: Global Industry Analysis and Opportunity Assessment, 2017– 2027”. In terms of value, the global Citrus Oils market is projected to register a healthy CAGR of 4.7% during the forecast period due to various factors, regarding which PMR offers vital insights in detail.
Product Type: Key Insights
On the basis of product type, the market is segmented into orange, bergamot, lemon, lime, mandarin and grapefruit. Citrus oils are used in home care products as a source of fragrance and because of their status as a safe solvent. Solvents are substances that can dissolve other substances easily. This property makes citrus oils ideal for use as surfactants and in industrial/household cleaners. The increasing demand for citrus-based cleaners is closely tied to increasing consumer preference for cleaner and safer cleaning solutions.
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Market Influencing Factors for Growth
The increasing prominence of aromatherapy is one of the major factor which driven the market for Citrus Oils globally. 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. The globally increasing demand for therapeutic and aromatic oils is a result of the growing preference for convenient, harmless, and natural alternatives to traditional allopathic solutions. The increasing demand for therapeutic oils is also a result of the urban and sophisticated image these products carry and the historical use of therapeutic oils in several eastern countries. These products are particularly popular among urban women.
Furthermore, unlike the food and beverages sector, which uses very low quantities of citrus oils, essential oils contain relatively large amounts of citrus oil. Growing consumer interest in aromatherapy directly contributes to revenue increase in the citrus oils market, and is therefore an important driver for market growth. The other advantage is that essential oils are priced much higher than all other products in which citrus oils are an ingredient.
In addition, Citrus oils are used in home care products as a source of fragrance and because of their status as a safe solvent. Solvents are substances that can dissolve other substances easily. This property makes citrus oils ideal for use as surfactants and in industrial/household cleaners. The increasing demand for citrus-based cleaners is closely tied to increasing consumer preference for cleaner and safer cleaning solutions.
Asia Pacific and Latin America Exploring Key Market Opportunities
This report covers trends driving each segment and offers analysis and insights of the potential of the Citrus Oils market in specific regions. Latin America and Asia Pacific are expected to register high growth rates between 2017 and 2027. North America is expected to remain the largest market through 2027, followed by Europe and APAC. Asia Pacific region accounted for 14.2% market share in 2017 and is expected to gain 40 BPS to account for 14.6% market share by 2026. In terms of volume, Asia Pacific is expected to register relatively high CAGR during the forecast period.
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Competitive Industry Scenario
Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the Citrus Oils space. Citrus Oil suppliers include Symrise AG, Lionel Hitchen (Essential Oils) Ltd, Bontoux S.A.S., Citrus and Allied Essences Ltd., Young Living Essential Oils LC, Citrus Oleo, Mountain Rose Herbs, Inc., doTERRA International, LLC., Citrosuco Paulista SA, Citromax S.A.C.I.