Rockville , July 04, 2023 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global citronella oil market would reach a valuation of US$ 110 million in 2023. It would further expand at a CAGR of 5% during the forecast period. In 2033, the global market is likely to generate a revenue of US$ 180 million.
Citronella oil is gaining high popularity in cosmetics and perfume industries worldwide. Due to its pleasant scent and antimicrobial properties, it is highly preferred by these industries.
It would further lead to increasing demand for citronella oil from perfume manufacturers. A few manufacturers are embracing natural ingredients, including citronella oil to keep up with the sustainability trend.
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According to IOP Science, citronella oil will be used as a substitute for traditional components in the synthesis of perfume as it is natural and safe. On the other hand, Clensta, an India-based start-up selling home and personal care products, recently launched citronella essential oil.
As per the company, its new product is made with natural and pure ingredients that were handpicked. It also did not add any toxic chemical to the product to refine its fragrance.
Consumers are becoming increasingly conscious of the ingredients they put on their bodies. It will lead them to opt for organic and natural solutions instead of chemical based ones. This shift in terms of preference toward sustainable solutions will further drive demand for citronella oil.
Aromatherapy has become immensely popular all over the globe in recent years. Millennials are looking for natural ways to improve their physical and mental health. Citronella oil is extensively used in aromatherapy due to its anti-inflammatory and anti-bacterial properties.
The oil is further used to reduce stress, soothe headaches, and help with relaxation. As modern consumers turn to aromatherapy as an alternative to traditional treatments, demand for citronella oil will rise by 2033.
Demand for natural citronella oil is increasing due to its unique and sustainable properties. These features would make it a great choice for repelling mosquitoes and other insects.
Production of natural citronella oil has less environmental impact than synthetic varieties. It makes it an attractive option for numerous consumers. Its ability to blend with other oils such as lemongrass and eucalyptus, further increases its popularity.
Europe market for citronella oil would show strong growth in the next ten years. It is due to increasing demand for natural mosquito repellents and growing concerns over the side effects of chemical repellents.
Presence of leading manufacturers in Europe and easy availability of citronella oil-based products in the region would further drive demand. Favorable environmental impact of citronella oil is also expected to fuel its demand in the region.
Key Takeaways:
- Europe currently holds around 40% of share in the global citronella oil market.
- The USA is set to account for the lion’s share in the North America citronella oil market by 2033.
- Germany is likely to dominate the Europe citronella oil market between 2023 and 2033.
- Based on distribution channel, online sales segment would expand at a CAGR of 4.5% during the forecast period.
- By source, the natural citronella oil category currently holds 60% of share in the global citronella oil market.
Growth Drivers:
- Growing usage of citronella oil for stress reduction and dealing with anxiety would increase sales.
- Citronella oil aids in the healing of wounds and has antifungal qualities, which would drive growth.
Restraints:
- Excessive use of citronella oil can lead to side effects such as tightness in the chest, coughing, or red rash, which might hamper demand.
- Consumers living with certain skin allergies or conditions cannot use citronella oil as it might lead to irritation.
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Competitive Landscape
Manufacturers of citronella oil are focusing on investing in research and development to expand their product portfolios. They are also aiming to adopt strategies such as mergers and acquisitions to increase their market presence. Branding and marketing campaigns are being used to create awareness of their products and to reach new customers.
For instance,
- In September 2022, Robertet introduced e-Robertet. It is a platform for selling organic essential oils tailored for business users.
- In July 2022, doTERRA declared that it is extending its activities in India as part of its worldwide expansion. DoTERRA's regional headquarters for all South Asia will now be located in this area.
Key Companies Profiled in This Report
- Synthite
- Young Living
- Van Aroma
- Karimun Kencana Aromatics
- Greenleaf Extractions Pvt Ltd.
- Bio Extracts private Limited
- DoTERRA International
- Aromaaz International
- Lionel Hitchen Limited
- Green Fields Oil Factory
- Plant Therapy
- Aksuvital Natural Products
More Valuable Insights on Citronella Oil Market
In the latest study, Fact.MR offers a detailed study on the global citronella oil market for the forecast period of 2023 to 2033. This study also highlights key drivers promoting the sales of citronella oil through detailed segmentation as follows:
By Source:
- Natural
- Organic
By Form:
- Absolute
- Concentrates
- Blends
By Application:
- Therapeutics
- Aromatherapy
- Food & Beverages
- Cosmetics
- Toiletries
- Fragrances
- Cleaning & Home
- Others
By Distribution Channels:
- Modern Trade
- Franchise Outlets
- Specialty Stores
- Online
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Questions Covered in the Citronella Oil Market Report
- What is the projected value of the citronella oil market in 2023?
- At what rate will the global citronella oil market grow until 2033?
- Which are the factors hampering the growth in the citronella oil market?
- Which region is expected to lead in the global citronella oil market from 2023 to 2033?
- Which are the factors driving the citronella oil market during the forecast period?
- What is the expected value of the citronella oil market during the forecast period?
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