Global Citrus Oil Market

Global Citrus Oil Market Size, Share, Growth Analysis, By Type(Orange Oil and Lemon Oil), By Application(Food and Beverages, and Cosmetics and Personal care) - Industry Forecast 2024-2031

Report ID: SQMIG10D2017 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 60 | Figures: 75

Global Citrus Oil Market News

  • In March 2023, Takasago announced the launch of its new range of organic citrus oils.
  • In February 2023, Citromax announced a $50 million investment to expand its citrus processing facilities in Brazil.
  • In January 2023, Givaudan announced the acquisition of a majority stake in Naturex, a French producer of natural ingredients, including citrus oils.
  • In June 2022, Firmenich announced the acquisition of Flavorchem Corporation, a US-based producer of natural flavors and fragrances, including citrus oils.
  • In April 2022, Treatt, a UK-based producer of natural ingredients, announced a partnership with Firmenich to develop natural citrus flavors and fragrances.
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Global Citrus Oil Market size was valued at USD 13.8 billion in 2021 and is poised to grow from USD 14.74 billion in 2022 to USD 24.95 billion by 2030, growing at a CAGR of 6.8% in the forecast period (2023-2030).

With numerous small and large players competing for customers, the global citrus oil market is highly fragmented. The market is characterized by fierce rivalry between players, with a focus on new product launches, alliances, and mergers and acquisitions to increase their market presence. Moreover, players are investing in research and development activities to enhance the quality of their products and cater to the changing consumer preferences. The market is also witnessing increasing competition from synthetic fragrance and flavoring agents, which is a major challenge for players in the citrus oil market. 'Citrus and Allied Essences Ltd.', 'Lionel Hitchen Essential Oils Ltd.', 'Symrise AG', 'Young Living Essential Oils LC', 'Bontoux S.A.S.', 'Mountain Rose Herbs', 'Citromax Flavors Inc.', 'Ultra International B.V.', 'Citrus Oleo', 'Citrus Fragrance Oil Co., Inc.', 'Florachem Corp.', 'Citrus and Allied (USA) Ltd.', 'Lebermuth Company', 'Viva Corporation', 'Citrus Tropic', 'Falcon Essential Oils', 'Citrus and Allied Essences (Canada) Ltd.', 'Lime Essential Oil Co.', 'J.P. Essential Oils & Aromatics', 'Citrosuco'

One of the key drivers for the growth of the global citrus oil market is the increasing demand for natural and organic products. Consumers are becoming more conscious of the harmful effects of synthetic chemicals in products, which has led to a growing preference for natural alternatives. Citrus oil, being a natural and organic product, has gained significant popularity in the food and beverage, cosmetics, and personal care industries. Moreover, the rising awareness about the health benefits of citrus oil is also contributing to the market growth.

One of the key market trends in the global citrus oil market is the growing demand for organic and natural products. Consumers are increasingly looking for products that are free from synthetic chemicals and additives, and citrus oil, being a natural and organic product, is gaining significant popularity. Moreover, there is a growing trend of using citrus oil in the food and beverage industry as a natural flavoring agent, which is driving the market growth. Additionally, the rising demand for citrus oil in the cosmetics and personal care industry is also a major trend in the market.

North America dominated the global citrus oil market. The region is witnessing significant growth due to the rising demand for natural and organic products, coupled with increasing awareness about the health benefits of citrus oil. Moreover, the presence of several key players in the region, such as Lionel Hitchen (Essential Oils) Ltd. and Mountain Rose Herbs, Inc., is also driving the growth of the citrus oil market in North America.

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Global Citrus Oil Market

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