Citrus Essential Oil Sales Upsurge with Major Players Contributing Heavily

Posted by Arslan on January 10th, 2020

In a recent business intelligence study, Fact.MR presents the nitty-gritty of the global citrus essential oil market considering 2013-2017 as the historic year and 2018–2028 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities and trends affecting citrus essential oil market growth. The Fact.MR report further tracks the citrus essential oils market for the period 2018-2028. According to the report, the citrus essential oils market is projected to grow at 4.1% CAGR through 2028.

Consumption Remains Robust in F&B Sector

With citrus essential oils labeled as safe for consumption by regulatory authorities, food and beverages industry continue to incorporate these essential oils into multiple products, in line with the upward trend of “clean label.” Over 30% sales of citrus essential oils was accounted by the food industry in 2018. Additionally, there has been a notable rise in use of citrus essential oils in cake frostings, chocolates, and confectionery, in recent years, with numerous companies launching multiple products that feature these oils as green ingredients.

The citrus essential oil market study outlines the key regions – Latin America, North America, MEA, Japan, Europe and APEJ – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are Firmenich SA, Symrise AG, Citrus Oleo, Lionel Hitchen (Essential Oils) Ltd, Mountain Rose Herbs, and many more.

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Apart from their health benefits, citrus essential oils also impart taste and flavors to food products, a reason that has substantially augmented the popularity of citrus essential oils in the food industry. Further, its antimicrobial and antifungal properties have opened up new avenues for citrus essential oils in the packaging industry, and as a natural preservative, thereby driving its sales in the F&B sector.

Online Retail Stores to Lead Citrus Essential Oils Sales

Globalization and pervasive proliferation of the internet worldwide have streamlined the modern-day trade practices. Following the trend, online retail stores have emerged as fastest growing distribution channel for various consumer as well as industrial goods, and citrus essential oils are no exception. With aggressive marketing campaigns and lucrative discounts, online retailers continue to win over consumers and consolidate their position in the market. The facility of shopping for required goods from the comforts of home has become a pervasive trend among millennials and the aging population alike.