NEWARK, Del, April 16, 2024 (GLOBE NEWSWIRE) -- In the updated edition of the market analysis, calculations infer a worth of US$ 4272.820 million for citrus oil in 2024. These projections reflect the evolving implications of emerging trends.
As these trends penetrate the market, the sales of citrus oil amplify, potentially attaining a valuation of US$ 6594.550 million by 2034. This progression signifies a moderate CAGR of 4.40% from 2024 to 2034.
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The citrus oil market expansion is bolstered by the heightening need for plant extracts and natural foods in food and beverage goods to be used as pigments, flavorings, and other preservatives. The revenue expansion of citrus oil is accelerated by escalating consumer cognizance of citrus oil as an essential food component.
- FRUU Cosmetics debuted the first vegan lip balm collection which was manufactured from recycled fruit extracts.
The spurring demand for vegan extracts in food and drink, cosmetics, and medicines sectors augment citrus essential oil market expansion. The ascending awareness of consumers regarding the boons of lactarian goods has a favorable effect on citrus oil demand.
Regardless of the optimistic anticipation, the citrus oil market growth is inhibited by intensifying pesticide and fertilizer application on farms to boost productivity. Pesticides are not limited to farming; while transportation, chemicals are diffused on fruits to prolong their shelf lives and curb spoilage.
Citrus Oil Market:
| Attributes | Citrus Oil Market | |
| Value-based CAGR (2024 to 2034) | 4.40 | % |
| Growth Factor |
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| Market Trend |
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| Market Restraint |
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Regional Outlook
North America commands the global organic oil market. North America witnessed growth because of the spurring demand for organic products, associated with booming awareness regarding the wholesomeness of citrus oil.
The augmenting demand in the food and beverage industry and the intensifying traction of aromatherapy in the Asia Pacific strengthen the market growth of citrus oils. The enriching disposable income, and shifting lifestyles lead to the development of the Asia Pacific essential oil market.
“The citrus essential oil market is set to experience sustained growth because of the surging demand for natural components. Stimulus like customer choices for organic goods and broadening implementation in the field of food, beverage, and cosmetics usher the citrus oil market growth.” - Nandini Roy Choudhury, Client Partner at Future Market Insights
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Key Takeaways
- The oranges source category to enjoy a share of 27.50% in 2024.
- In the food and beverages end use industry to enthral a share of 23.60% in 2024.
- From 2024 to 2034, India citrus essential oil market equates at a CAGR of 6.40%.
- China citrus oil market exhibit upsurge at CAGR of 5.30% between 2024 and 2034.
- Between 2024 and 2034, Japan citrus oil industry imply growth at a CAGR of 5.10%.
- Germany citrus essential oil market reflects expansion between 2024 and 2034 at a CAGR of 2.80%.
- The United States citrus oil market indicates a CAGR of 2.10% through 2034.
Competitive Landscape
The citrus oil manufacturers envision an amplification in the demand owing to the medicinal benefits. This trend indicates citrus oil producers to sanction long-drawn-out agreements with food and beverage and cosmetic and personal care firms to seize a broader customer base to increase the market share. The citrus oil vendors concentrate on partnerships and acquisitions to swell their product portfolio, catering to the strengthening demand.
Pivotal Tangerine Oil Manufacturers
- Ultra-International B.V.
- Phoenix Aromas and Essential Oils, LLC
- Firmenich SA
- Givaudan
- Symrise AG
- Citrus Oleo
- Lionel Hitchen (Essential Oils) Ltd
- Bontoux S.A.S.
- Citrus and Allied Essences Ltd.
- Mountain Rose Herbs, Inc.
- Citromax S.A.C.I.
- doTERRA International, LLC
- Young Living Essential Oils LC
- Citrosuco
Noteworthy Strategies
- In order to expand the retail chain, Plant Therapy Essential Oils Corporate set up new stores across the United States in Arlington, Murray, and Idaho to impart customers better experience in 2021 with novel layout.
- Mountain Rose Herbs made ownership changes CEO Shawn Donnille acquired his partner Julie Bailey’s some shares, making it a joint ownership from both of them.
- Ziegler Group was acquired by Archer Daniels Midland Company (ADM) in March 2019 to expand the product portfolio for citrus oils in the market.
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Key Segments
By Source:
- Oranges
- Tangerines/Mandarins
- Grapefruit
- Lemon and Lime
By Extraction Method:
- Steam Distilled Method
- Cold Pressed Method
- Hydro-Distillation Method
By Fold Type:
- 2-4 Folded
- 5-7 Folded
- 8-10 Folded
- Above 10 Folded
By Grade Type:
- Deterpenated Oil
- Terpenless Oil
- Concentrated Oil
- Terpene Oil
By End-use Industry:
- Food and Beverage
- Personal Care and Beauty Products
- Home Care Products
- Aromatherapy
- Health Care Products
By Sales Channel:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Explore FMI’s related ongoing Coverage in the Food and Beverage Domain:
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The global citrus seeds market was estimated to have acquired US$ 4.32 billion. Consumer movement towards natural and healthy ingredients is likely to aid the sales to US$ 8.9 billion by 2033.
The citrus fiber market is predicted to be valued at US$ 172.7 million in 2024 and is expected to reach US$ 248.6 million by 2034, marking a CAGR of 3.7%.
The global citrus molasses market was estimated to have acquired US$ 687.2 million. Changing consumer preferences towards healthy and organic products is likely to aid the sales to US$ 1507.06 million by 2033
The global citrus crop nutrition market size is estimated to reach US$ 902.2 million in 2023 and is predicted to rise at a 5.4% compound annual growth rate (CAGR).
The spice oils and oleoresins market may reach an overall valuation that is expected to surpass US$ 1,674.40 million in 2023.
The global egg yolk oil market is estimated at USD 268.9 Mn in 2022 and is projected to reach USD 528.9 Mn by 2032, at a CAGR of 7% from 2022 to 2032.
The cold-pressed oil market is expected to reach a valuation of US$ 23,431.5 million in 2024. The market is further projected to develop at a CAGR of 5.10% from 2024 to 2034.
The edible oils and fats are estimated to generate a total of US$ 121.90 billion in 2023. Between 2023 and 2033.
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