Global Citrus Oil Market Is Projected To Register A CAGR Of 5.4% By 2022

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.

Factors Fuelling Growth of the Global Market

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.

In addition to the food and beverages industry, demand for citrus oil is projected to witness an upsurge in the aroma industry. Refreshing and relaxing fragrance products including bath additives, and massage oil continue to witness an upsurge in demand for aromatherapy. Moreover, use of fragrance products with an uplifting aroma for treatment of depression is further likely to contribute towards growth of the global citrus oil market.

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Food & Beverage Industry to Represent a Dominant Segment

As demand for refreshing and relaxing food products increases, manufacturers turn to blend citrus oil in order to offer desired flavor. Orang oil continue to sell more than the other products in the global citrus oil market. Currently, the orange oil products type segment is projected to represent more than US$ 1,200 Mn, reflecting a relatively high CAGR in the global market through 2022.

By extraction method, the distillation segment is projected to dominate, representing more than US$ 700 Mn by 2017-end. During the forecast period, the distillation segment is projected to reflect a robust CAGR as compared to other extraction methods.

Demand for the citrus oil will continue to remain concentrated in the food & beverages industry. According to the report, the food & beverages application segment is projected to represent more than US$ 700 Mn by 2022-end. However, demand for citrus oil products will continue to grow faster in the personal care and cosmetic industry globally.

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Market Taxonomy

Product Type
  • Orange Oil
  • Lemon and Lime Oil
  • Others
Extraction Method
  • Distillation
  • Solvent extraction
  • Cold Pressing
  • Other Extraction Method

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Market Players

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

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/10/07/1925890/0/en/Mycoprotein-Products-a-US-200-Million-Market-Will-Be-the-Future-of-Nutritive-Non-Meat-Protein-Finds-Fact-MR.html

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