Citrus Oils Market Surpasses USD 5.8 Billion by 2032: Increasing Demand for Natural Flavors and Aromas Drives Growth in the Citrus Oil Industry

The citrus oils market is expected to be worth US$3.9 billion in 2022. According to Future Market Insights (FMI), the global market value is estimated to reach US$ 5.8 billion by 2032, expanding at a CAGR of 4% between 2022 and 2032. The following factors can be linked to this expansion:

The Citrus Oils Market is experiencing robust growth, driven by the rising demand for natural and healthy flavors and aromas in various industries. Citrus oils, extracted from fruits like oranges, lemons, and limes, are widely used in food and beverages, cosmetics, and aromatherapy. The market is expected to continue expanding due to the growing consumer preference for natural products.

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Increasing consumer preference for plant-derived and natural products is a significant driver for the growth of the global citrus oil market. In addition, organic citrus oils are likely to offer better profit margins, as they are priced higher when compared to conventional variants.

  • As per the International Trade Centre (ITC) publications, organic bergamot orange oil (cold-pressed and sourced from Italy) was over 2.6X costlier than conventional bergamot oil (2014–2015).

Organic and natural formulations have been on a consistently increasing trend since the past decade, and the trend is expected to continue over the forecast period. As per the USDA, over 75% of the grocery stores carried organic products in the year 2013.

The organic character of food and beverage products and therapeutic oils depends on the way key ingredients such as citrus oils are cultivated. For instance, citrus fruits are considered inorganic if fertilizers and pesticides have been used during cultivation.

Factors Fueling the Global Citrus Oil Market Growth

Citrus oil production is a labor-intensive process as sizeable amount of raw materials (fruit/fruit peel) are required to produce minute quantities of oil. This is a major concern as the expenses involved with flavouring agents such as citrus oils, affect the end-product prices. Therefore, the production advantages offered in developing regions, in terms of low costs and favorable climate, are an important driver for the growth of the market.

The importance and scale of imports from developing regions can be gauged by the fact that the New Zealand Institute for Crop and Food research has considered the low cost of production in developing regions as a major threat to the growth of the domestic market.

Due to such production advantages and high presence of oil in the glands of citrus fruits, citrus oils are relatively cheaper than other essential oils. Moreover, in the view of their widespread availability and ease of cultivation, lemon and orange oils are particularly cheaper.

Owing to the long shelf life of citrus oils, small product size (usually available in small 10/15 ml vials) and the fragmented nature of the market, online platforms are a particularly strong distribution channel for citrus oils. These, especially offer significant benefits to small-scale manufacturers, who might face various challenges such as exorbitant marketing costs. Online platforms reduce distribution costs considerable, and are highly effective in garnering consumer attention.

This study by FMI offers insights into the Citrus Oil market for the forecast period 2019 and 2028. The citrus oil market is projected to record a CAGR of ~ 4% between 2019 and 2028.

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 Market Segments Covered in Citrus Oils Industry Analysis

By Source:

  • Oranges
  • Tangerines/Mandarins
  • Grapefruit
  • Lemon and Lime

By Extraction Method:

  • Steam Distilled Method
  • Cold Pressed Method
  • Hydro-Distillation Method

By Fold Type:

  • 2-4 Folded
  • 5-7 Folded
  • 8-10 Folded
  • Above 10 Folded

By Grade Type:

  • Deterpenated Oil
    • Terpenless Oil
    • Concentrated Oil
  • Terpene Oil

By End-Use Industry:

  • Food & Beverage
  • Personal Care & Beauty Products
  • Home Care Products
  • Aromatherapy
  • Health Care Products

By Sales Channel:

  • Offline Sales Channel
    • Supermarkets/Hypermarkets
    • Departmental Stores
    • Convenience Store
    • Other Sales Channel
  • Online Sales Channel
    • Company Website
    • E-commerce Platform

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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