Citrus oil is a type of essential oil that is extracted from the peel of citrus fruits by the cold pressing method. Citrus fruits include lime, lemon, orange, tangerine, bergamot, etc. Major factors driving the growth of the global citrus oil market are increasing use of citrus oil in food industry and for medicinal purposes.
The global citrus oil market has been segmented on the basis of product type, application, and region. On the basis of product type, the market is segmented into lemon oil, lime oil, orange oil, grapefruit oil, mandarin oil, and bergamot oil. Orange oil segment dominates the global market, owing to its wide applications and popularity among individuals.
On the basis of application, the market is segmented into cosmetics and fragrances, food products, therapeutic massage oil and aromatherapy, industrial solvents, and cleaning products. The food industry segment holds a major share to the global market in terms of revenue and expected to maintain its position over the forecast period, due to its use as a solvents and its ant-oxidant, anti-inflammatory, anti-septic, anti-bacterial properties. Therapeutic massage oil and aromatherapy segment expected to witness a fastest growth in terms of revenue, owing to growing awareness regarding the benefits of citrus oils among consumers. The use of citrus oil is also increased as it fights against pathogens and germs, improves immunity system, reduces irritability and anxiety, removes toxins and improves the health of a skin.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is expected to dominate the global market in terms of revenue over the forecast period, followed by North America. Increasing demand for natural and organic cosmetics among individuals is a key factor, anticipated to propel the growth of the global market in Europe region. Market in Asia Pacific is expected to witness a lucrative growth in terms of revenue in the near future, owing increasing use of essential oils for various application such as massage and aromatherapy.
Key players operating in the global citrus oil market include Symrise AG, Lionel Hitchen Essential Oils Ltd., Bontoux S.A.S., Citrus and Allied Essences Ltd., Young Living Essential Oils LC, Citrus Oleo, Mountain Rose, Inc., doTERRA International LLC, Citrosuco Paulista SA, and Citromax S.A.C.I.