Citrus Oil Market Size, Share & Trends Analysis Report By Product (Orange Oil, Lemon Oil), By Application (Personal Care, Food & Beverages, Aromatherapy), By Region, And Segment Forecasts, 2019 - 2025

Citrus Oil Market Size, Share & Trends Analysis Report By Product (Orange Oil, Lemon Oil), By Application (Personal Care, Food & Beverages, Aromatherapy), By Region, And Segment Forecasts, 2019 - 2025

The global citrus oil market size is anticipated to reach USD 10.03 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.8% during the forecast period. Growing demand for plant based extracts such as colorants and flavorants and to increase nutritional content of food and beverages is projected to propel the growth.

Citrus oil is widely available in many countries including U.S., U.K., and Germany and is commonly used in food and beverages. Orange oil led the market in 2018 and is expected to maintain its dominant position throughout the forecast period. Increasing use of the product in skin care products is the main factor driving the demand. Orange oil is used for the treatment of acne and to encourage skin rejuvenation. Furthermore, regular use of orange oil helps regulate blood flow to skin, fueling the demand for orange oil from the cosmetic industry.

The market for citrus essential oil is expected to witness significant growth over the forecast period. Increasing spa and rejuvenation centers across the world is expected to drive the product demand. Key players focus on innovation and new product development to increase their product offerings. For instance, in 2018, Youngevity introduced a new product called Mineral Man, offering citrus oil-based skin care and hair care products.

Europe held the largest market share of 39.5% in 2018, owing to rising consumer awareness regarding the benefits of citrus oils. Moreover, growing demand for natural cosmetic and plant extracts to enhance natural content is driving the regional product demand. Asia Pacific, on the other hand, is expected to witness the fastest CAGR of 8.4% from 2019 to 2025.

Citrus Oil Market Report Highlights

• Lemon oil segment is anticipated to ascend at the fastest CAGR of 7.5% over the forecast period
• Orange oil segment led the global market with an overall revenue share of 29.4% in 2018
• Food and beverages segment is expected to reach USD 3.42 billion by 2025
• The citrus oil market is highly competitive in nature with the presence of leading players including Young Living Essential Oils, Plant Therapy Essential Oils, TERRA Holdings, LLC, Moksha Lifestyle Products, Farotti Essenze, and Mountain Rose Herbs
• Manufacturers concentrate on new product launches, capacity expansion, and innovations to cater to the rising demand