Citrus oil market is projected to grow at a CAGR of 16.29% during the forecast period, reaching a total market size of US$2.561 billion in 2024 from US$1.035 billion in 2018. Rising concerns over health are shifting the consumption of products made from natural and organic ingredients. The demand for citrus oil is driven by the continuous changing lifestyle and the increasing spending on leisure and relaxation by the people. It is also augmented by the increasing awareness about the benefits of citrus oil in weight loss and fighting cancer. Furthermore, the increasing demand for plant-based products and the increasing number of wellness centers and clinics will also support the growth of the market during the forecast period. Geographically, APAC will witness a significant CAGR during the forecast period owing to the emerging demand for citrus oils as personal care products in countries like China and India. Moreover, the rising adoption of natural ingredient-based products is further contributing to the growth of the APAC citrus oil market.
The “Citrus Oil Market – Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, application, and geography.
The citrus oil market has been segmented based on type, application, and geography. Based on type, the market is classified as orange oil, lemon oil, grapefruit oil, bergamot oil, and others. By application, the market is segmented as food & beverage, cosmetics and personal care products, pharmaceuticals, and aromatherapy.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the producers.
Major players in the citrus oil market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the citrus oil market.