Citrus Essential Oils Market size, growth and comparison by regions, types and applications

According to a new market report published by Credence Research Inc., “Citrus Essential Oils Market (By Product Type (Orange Oil, Lemon Oil, Lime Oil, Mandarin Oil, Grapefruit Oil and Bergamot Oil), By Application (Food & Beverages, Cosmetics & Toiletries, Spa & Relaxation, Cleaning & Home, Medical and Others)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the worldwide citrus essential oils market was valued at US$ 3,163.5 Mn in 2015. In terms of volume the global market stood at 74.98 kilo tons in 2015.

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Market Insights

Rising consumer awareness regarding the benefits of citrus essential oils is the major factor escalating the overall market growth. Moreover, inclination of consumers towards using products made of natural ingredients as compared to their artificial counterparts is also driving the usage of citrus essential oils. Availability of products on various distribution channels and wide retail shelf space is another factor contributing towards the market growth.

Citrus essential oils especially, cold pressed has the shortest life span of all essential oils due to presence of components know as terpenes in high quantity which are more prone to oxidisation. For that reason extra care is required to store them safely away from different sources of heat.

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On the basis of product type, the citrus essential oils market is categorized into following segments:

• Orange oil
• Lemon oil
• Lime oil
• Mandarin oil
• Grapefruit oil
• Bergamot oil

Among all the types of citrus essential oils, orange oil emerged as the largest product segment generating over US$ 700 million in 2015. Rising demand from various applications owing to its anti-inflammatory, aphrodisiac and antidepressant properties is projected to boost the orange oil demand over the coming few years. Also, it is the most low-priced of all essential oils. Citrus oils such as lemon oils and grapefruit oils are projected to grow at a significant growth rate on account of their antibacterial, antiseptic and immune stimulating properties.

Lime oil is another product segment projected to grow at substantial CAGR of 9.1% in terms of volume during the forecast period of 2016 to 2023. It works well in removing oil and grease spots and gum. It’s also great for sore throats and infections. Lime oil has aroma that is refreshing and uplifting, so its work wonders if one is feeling listless or exhausted. Bergamot citrus essential oil is the most expensive of all the cold pressed citrus oils. Its fragrance is reminiscent to that of orange, and can be useful during periods of depression and is also known for its ability to help combat acne and oily skin.

The global citrus essential oils market can be categorized on the basis of applications as:

• Food & Beverages
• Cosmetics & Toiletries
• Spa & Relaxation
• Cleaning & Home
• Medical
• Others

In 2015, food and beverages segment dominated the market and accounted for 34% share of global demand. The major consumers of citrus essential oils are the soft drink industry. No soft drinks can be made without essential oils such as lime or lemon. Further, alcoholic beverages are another major user of citrus essential oils. Citrus essential oils are also extensively use in processed food and fast food industry. In the same year cosmetics & toiletries accounted for over 21% market share owing to increasing consumer sophistication, demand for natural cosmetics, beauty products and fragrance. However, spa & relaxation segment is projected to witness highest growth rate during the forecast period owing to changing lifestyle, increasing popularity of aromatherapy and rise in disposable income.

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