The citrus oil market size has experienced substantial growth in recent years, increasing from $7.80 billion in 2023 to $8.29 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. This historic growth can be attributed to several factors, including rising consumer awareness of natural products, the expansion of the aromatherapy sector, increasing demand for natural flavoring agents within the food industry, a broader range of personal care products utilizing citrus oils, and a rise in health-conscious consumer habits. Looking ahead, the citrus oil market size is projected to continue its strong growth, reaching $10.68 billion in 2028 at a CAGR of 6.5%. This anticipated growth in the forecast period is expected to stem from heightened demand for sustainable and eco-friendly products, a growing preference for plant-based ingredients, an increasing interest in bio-based solvents, a rising demand for premium skincare, and expanding applications of citrus oils in pharmaceuticals. Notable trends expected during this period include a shift towards clean-label practices and transparency in product sourcing, a growing use of citrus oils in functional beverages, increasing popularity in holistic wellness products, rising demand for tailored aromatherapy solutions, and innovations in multi-functional citrus oil products that combine skincare, fragrance, and health benefits.
Global Citrus Oil Market Key Driver
The expanding use in food and beverages is expected to propel the growth of the citrus oil market going forward. Food and beverages include all consumable products prepared for human consumption, driven by factors such as population growth, changing lifestyles, health consciousness, and sustainability trends. Citrus oils enhance the flavor and aroma of food and beverages, providing potential health benefits, including antioxidants and digestive support, making them favored in health-conscious products. In February 2023, Monster Beverage Corporation reported that net sales for their energy drinks rose 2.6% to $1.39 billion in the fourth quarter of 2022, up from $1.35 billion in the same period in 2021. Therefore, this expanding use in food and beverages is driving the growth of the citrus oil market.
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Global Citrus Oil Market Segments
The citrus oil market covered in this report is segmented –
1) By Product: Lemon Oil, Orange Oil, Grapefruit Oil, Lime Oil, Other Products
2) By Source: Oranges, Tangerines Or Mandarins, Grapefruit, Lemon And Lime
3) By Extraction Method: Steam Distilled Method, Cold Pressed Method, Hydro-Distillation Method
4) By Distribution Channel: Offline, Online
5) By Application: Food And Beverages, Personal Care, Pharmaceuticals, Aromatherapy
By Geography:The regions covered in the citrus oil market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the citrus oil market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Citrus Oil Industry Players
The Archer-Daniels-Midland Company, Givaudan SA, Firmenich SA, Takasago International Corporation, Young Living Essential Oils LC, doTERRA International LLC, Robertet SA, Kalsec Inc., Citromax Group, Mountain Rose Herbs, Lebermuth Inc., Citrus and Allied Essences Ltd., Lionel Hitchen, Biolandes, K. K. Enterprise, Florachem Corp., Shiva Exports India, Sensient Essential Oils, Kanta Enterprises Private Limited, INDIA AROMA OILS AND COMPANY, Bontoux S.A.S., AG Organica Private Limited
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Citrus Oil Market Overview
Citrus oil is a type of essential oil derived from the peels of citrus fruits and is renowned for its refreshing aroma that boosts mood and well-being. Beyond its use in perfumes and household products, it offers potential health benefits, including antimicrobial and antioxidant effects. This essential oil is also popular in food flavoring and aromatherapy as a natural remedy.
Citrus Oil Global Market Report 2023 provides data on the global citrus oil market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The citrus oil market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
