Market Snapshot:
Citrus oils are basically known as essential oil which is been extracted from among orange, lemon, grapefruit, lime, bergamot, and others. They are effective and versatile, which provides many uses and benefits. The market of citrus oil is gaining growth due to its easy availability and tremendous applications in pharmaceuticals, food, and cosmetic industry. Also, there is increasing demand from various regions like India and China, and there has been seen demand in natural ingredients. But there are some factors which are hindering the overall growth of the market, like depletion of natural resources and high possibility of adulteration and synthetic product developments.
Segment Analysis
AMA Research have segmented the market of Global Citrus Oils market by Type, Application and Region.
On the basis of geography, the market of Citrus Oils has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
Technology Advancement in High-Quality Citrus Oils and Growing Demand for Flavors and Fragrances Product Vertical
Market Drivers
Increasing Applications in the Pharmaceutical Industry and Rising Demand for Food & Beverage and Cosmetic Applications
Opportunities
Growing Demand from Emerging Economics such as India, China, and others and Rise in Demand for Natural Ingredients
Restraints
- Depletion of Natural Resources
- High Production Cost Associated With Citrus Oils
In addition to the aforementioned factor, Increasing Applications in the Pharmaceutical Industry
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global essential oil market can witness an upsurge in the forecast period.
The key Vendors profiled in the study are Symrise AG (Germany), Lionel Hitchen (Essential Oils) Ltd (United Kingdom), Bontoux S.A.S. (France), Citrus and Allied Essences Ltd. (United States), Young Living Essential Oils LC (United States), Citrus Oleo (United States), Mountain Rose Herbs (United States), Citromax S.A.C.I. (United States) and Citrosuco Paulista SA (Brazil). A lot of United States players are profiled in the research study indicating a strong market dependence.