DUBLIN, Aug. 22, 2023 /PRNewswire/ -- The "Global Citrus Oil Market 2023-2028 by Type, Application, and Geography report has been added to ResearchAndMarkets.com's offering.

The global citrus oil market is poised for substantial growth, projected to increase from USD 4.07 billion in 2023 to USD 5.3 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 5.41%.

Driving Factors

Food and Beverage Industry Demand: Growing interest from the food and beverage industry, particularly in enhancing flavors and aromas of products like bakery items, beverages, and salads, is expected to drive market growth. Increased demand for carbonated beverages, bakery products, and non-carbonated beverages further fuels the market's expansion. Organic and Natural Formulations: Consumers' preference for organic and natural formulations, which offer health benefits without side effects, is boosting the demand for citrus oil. These formulations, albeit more expensive than conventional counterparts, yield higher profit margins and contribute to market growth. Alternative to Antibiotics in Animal Feed: The use of citrus oils as antibiotic alternatives in animal feed presents a growth opportunity. Citrus peel-extracted oils have antibacterial properties that aid in animal growth and disease prevention, making them a potential alternative to antibiotics. Ethnic Food Preparations: Citrus oils are gaining traction in ethnic foods due to their health benefits and natural origin. The oils are rich in vitamins, making them appealing for use in ethnic food preparations, thus driving market growth.

Market Segmentation

By Type: The market is categorized into Orange Oil, Lemon Oil, Lime Oil, Grapefruit Oil, and Others. Orange oil holds the largest market share, driven by its benefits for skincare and cosmetics, including anti-inflammatory and antibacterial properties.

The market is categorized into Orange Oil, Lemon Oil, Lime Oil, Grapefruit Oil, and Others. Orange oil holds the largest market share, driven by its benefits for skincare and cosmetics, including anti-inflammatory and antibacterial properties. By Applications: Categories include Food & Beverages, Personal Care & Cosmetics, Aromatherapy, Pharmaceuticals, and Others. Citrus oil's use in natural cosmetics, owing to its antibacterial and anti-inflammatory properties, is expected to lead growth in the personal care segment.

Categories include Food & Beverages, Personal Care & Cosmetics, Aromatherapy, Pharmaceuticals, and Others. Citrus oil's use in natural cosmetics, owing to its antibacterial and anti-inflammatory properties, is expected to lead growth in the personal care segment. By Geography: Europe currently dominates the market due to its inclination toward natural ingredients and clean-label products, with Germany , the U.K., France , and Spain being key players. The region's affinity for ethnic foods further boosts citrus oil demand.

Company Profiles

The report provides comprehensive company profiles, including financial performance analysis for publicly listed firms in the market. Notable players include Bontoux, Citromax Flavors, Inc., Citrus & Allied Essences Ltd., Moksha Lifestyle Products, and Mountain Rose, Inc.

Competitive Quadrant and Ansoff Analysis

The report employs a Competitive Quadrant tool to evaluate companies based on Industry Position and Market Performance scores. Ansoff Matrix analysis is also utilized, providing insights into strategies for market growth. Additionally, strategies for growth based on SWOT analysis are devised for industry players.

In conclusion, the global citrus oil market is set for significant expansion, driven by diverse applications, consumer preferences, and industry dynamics. As demand for natural and health-oriented products continues to rise, citrus oil's prominence is expected to grow across multiple sectors.

Market Dynamics

Drivers

Growing consumer preference for natural and organic products



Increasing demand for citrus flavors and aromas in the food and beverage industry



Rising awareness about the health benefits associated with citrus oil consumption

Restraints

Fluctuating prices of citrus fruits due to seasonal variations



Stringent regulations and quality standards governing the production

Opportunities

Increasing adoption of citrus oil in the nutraceutical industry



Rising demand for natural and eco-friendly cleaning and household products

Challenges

Environmental concerns related to citrus cultivation and oil extraction

Key Topics Covered



1 Report Description

2 Research Methodology

3 Executive Summary

4 Market Dynamics

5 Market Analysis

6 Global Citrus Oil Market, By Type

7 Global Citrus Oil Market, By Applications

8 Americas' Citrus Oil Market

9 Europe's Citrus Oil Market

10 Middle East and Africa's Citrus Oil Market

11 APAC's Citrus Oil Market

12 Competitive Landscape

13 Company Profiles

14 Appendix



Companies Mentioned

Bmv Fragrances Pvt. Ltd.

Bontoux

Citromax Flavors, Inc.

Citrus & Allied Essences Ltd.

doTerra

Falcon

FAROTTI S.r.l.

Firmenich SA

Flavex Naturextrakte GmbH

Givaudan

International Flavors & Fragrances, Inc.

Lebermuth, Inc.

LIONEL HITCHEN

Mane

Moksha Lifestyle Products

Mountain Rose, Inc.

Norex Flavours Pvt. Ltd.

Robertet Group

Symrise AG

Synthite Industries Ltd.

Takasago International Corp.

Ultra International

Vedaoils

Vidyaherbs

Young Living Essential Oils

For more information about this report visit https://www.researchandmarkets.com/r/ln712q

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