Citrus Oil Market: Healthcare Industry to be a Lucrative Vertical

Posted by Arslan on February 6th, 2019

Growing demand for healthy food products has led to an upsurge in demand for citrus oil in the food and beverages industry. In addition, surge in demand for range of artificial drink concentrates is projected to contribute towards growth of the global market positively. According to a recently compiled report by Fact.MR, the global citrus oil market is projected to register a CAGR of 5.4% over the forecast period, 2017-2022.

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Growth of the global citrus oil market is bound to several micro-economic and macro-economic factors. Consumption of the citrus oil continues to remain high in the food and beverage industry attributed to several health-related benefits. With growing demand for artificial drink concentrates, growth of the global citrus oil market is projected to increase in the upcoming years. Moreover, the manufacturers increasingly use citrus oil in order to enhance the flavor of the beverage and food products. Bound to these factors, citrus oil is projected to witness an upsurge in demand in the food and beverages industry globally.

Citrus Oil Market: Healthcare Industry to be a Lucrative Vertical

Besides, food and beverages industry, citrus oil is likely to witness considerable demand in the healthcare industry for treatment of infections, skin disorders, obesity, and asthma. Equipped with a potent array of anti-carcinogenic properties, citrus oil continues to witness significant demand in the healthcare industry for the treatment of cancer. Citrus oil market will further be driven by key attributes of this essential oil such as high content of antioxidants, neutralizing the free radicals, boosting the immune system, and relieving stress.

Significant Demand for Aromatherapy

Citrus oil market growth also remains underpinned by the advent of aromatherapy as the most preferred treatment of depression. Increasing demand for refreshing, and uplifting aroma among customers has led manufacturers to use citrus oil in range of aromatherapy products. Bound to these factors, growth of the citrus oil market is likely to rev up during the forecast period

Orange Oil to Remain a Lucrative Citrus Oil Variant

With growing adoption of citrus oil in the food and beverages, and aroma industry, citrus oil market participants are witnessing high demand for orange oil. Orange oil is expected to witness the highest revenue growth in citrus oil market, accounting for a value of over US$ 1,200 Mn by the end of 2022. Orange oil as compared to other products is expected to register the highest CAGR in the citrus oil market throughout 2022.

Sales of citrus oil through specialty stores is expected to generate significant revenues, accounting for a value of over US$ 700 Mn by the end of 2017. Modern trade as compared to other sales channel is expected to register the highest CAGR in the citrus oil market throughout 2022.

Competition Tracking

Leading players operating in the citrus oil market include Biolandes Sa, Citrus and Allied Essences Ltd., Symrise AG, Young Living Essentials Oils LC, Givaudan SA, International Flavors & Fragrances Inc., DoTERRA International LLC, The Lebermuth Co., Inc., Citrosuco Gmbh, and Farotti Srl.