The global citrus oil market is expected to expand at a healthy rate from 2021 to 2031 (forecast period). The global citrus oil market is projected to benefit from the rising demand for organic products and ingredients around the world. Moreover, ongoing product innovation and new product launches by manufacturers are expected to boost the global citrus oil market growth in the upcoming years. Furthermore, increased product accessibility and availability are expected to promote market expansion. In addition, shifting eating habits and raising awareness of the benefits of citrus oils among consumers is anticipated to propel the global citrus oil market.
Key players operating in the global citrus oil market are Bontoux S.A.S., Citrus and Allied Essences Ltd., Lionel Hitchen Limited, Symrise AG, Mountain Rose, Inc., Plant Therapy, Inc., Young Living Essential Oils LC, Moksha Lifestyle Products, doTERRA International LLC, and, Farotti Essenze Rimini among the other players.
These market leaders are expanding their regional footprint in order to gain the highest market share. Moreover, rising mergers and acquisitions and collaboration to create novel goods are expected to drive market expansion in the years ahead.
The global citrus oil market is expected to witness growth as a consequence of increasing health consciousness and strong demand for natural ingredients. Moreover, the growing trend toward organic products is projected to bolster the global citrus oil market growth. Furthermore, expanding demand for cosmetic and personal care goods, growing disposable income, and rapid technological improvements are likely to contribute considerably to global citrus oil market growth. Additionally, citrus fruits and vegetables such as grapefruit, orange, and lemon, which are the primary sources of citrus oil, are abundantly available. Thus, the wide availability of citric fruits and vegetables has played a critical role in boosting citrus oil production.
Increasing investments in research and development operations to discover new applications for citrus oil are anticipated to have a favorable influence on the expansion of the worldwide citrus oil market throughout the forecast period.
Moreover, the global citrus oil market is estimated to be driven by rising demand from the food and beverage industry for increasing the aroma and flavor of food products such as bread, salads, beverages, and other items. Furthermore, increasing demand for non-carbonated beverages, confectionery, bakery, and carbonated beverages is anticipated to fuel citrus demand in the food and beverage industry, supporting the growth of the global citrus oil market.
The citrus oil market in Europe is expected to experience considerable growth during the forecast period due to increasing demand for organic products and high product awareness regarding its health advantages. Moreover, the rising demand for pharmaceutical, cosmetic, and beauty items in the regions is one of the important aspects likely to drive regional market growth. Furthermore, Germany and the United Kingdom are expected to make a significant contribution to the citrus oil market in Europe.
The Asia Pacific citrus oil market is anticipated to expand due to changing consumer preferences and increased expenditure on recreation and leisure activities. Moreover, the growing number of spas, massage centers, and relaxation facilities, particularly in developing nations like Thailand, India, China, and Malaysia, is anticipated to contribute to the regional market growth. Furthermore, the rising demand for plant-based products in the pharmaceutical, food and beverage, cosmetic, and personal care industries is likely to provide a large potential for the regional market in the future years.
The North America citrus oil market is projected to develop during the forecast period due to the strong demand for organic products in countries such as the United States and Canada.