Citrus oils enjoys a major share in essential oils owing to its wide usage as industrial solvents, fragrance for cleaning products, flavoring agents, aroma and therapeutic properties.
Albany, NY -- (SBWIRE) -- 10/24/2018 -- Citrus oil is gaining wide range of application as flavoring agents, cleaning products, industrial solvents, and also for its therapeutic properties that are likely to drive growth of its market. Growing demand for therapeutic and aromatic oils on the coattails of increasing consumer interest towards aromatherapy is expected to directly influence the growth of citrus oils market. Market Research Report Search Engine (MRRSE) recently published a report titled 'Global Market Study on Citrus Oils: Orange Oil to Witness Highest Revenue Growth Through 2027 Owing to Increasing Use in the Production of Cosmetic Products'. It offers an in-depth analysis of the key market drivers and trends to identify new developments and potential growth prospects of the global citrus oils market.
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As indicated in the report, the global citrus oils market is expected to expand at a robust CAGR of 4.7% over the forecast period between 2017 and 2027. Various macroeconomic factors have been envisaged to augur well with the growth of citrus oils market, which is further likely to be improved by industry-specific factors.
Citrus oils are among the favorite essential oils and mostly sought after for its usage in massage, shower, perfume, inhalation, and others. Growing prominence of aromatherapy backed by several beneficial effects on the body is considered to be a key factor favoring growth of the citrus oils market. In addition, rising demand for therapeutics oils particularly among urban women will possibly contribute to revenue maximization of the global citrus oils market.
Based on the oil type, orange oil segment is expected to witness a robust growth during the forecast period, owing to its easy availability and cost-effectiveness. In addition, orange oil has significant blending and aromatic attributes that find applications in cosmetic as well as food products, which in turn positively impact the market growth.
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Food & Beverages segments will continue to reign supreme in the global citrus oil market with estimated market value worth over US$ 1000 Mn in 2017. This segment is likely to register a healthy CAGR of 5.3% over the forecast period, attaining a value over US$ 1,690 by 2027-end. Cosmetics & personal care and home care products segments are further likely to complement growth of the global citrus oils market.
Geographically, in terms of revenue, North America is expected to account for the maximum revenue share, due to more number of sophisticated consumers as compared to other regions across the globe. With increasing demand for natural cosmetics and beauty products, citrus oils market is foreseen to gain high traction from European nations. Further, Asia Pacific is estimated to be the fast-growing market influenced by rising prominence of massage and spas parlors.
The report also highlights detailed profiles of leading companies identified in the global citrus oils market to analyze their short- as well as long term marketing strategies, key offerings and recent development. Some of the key players include Mountain Rose Herbs, Symrise AG, Bontoux S.A.S., Citrus and Allied Essences Ltd., Young Living Essential Oils LC, doTERRA International, LLC, Inc, Citrosuco, Lionel Hitchen (Essential Oils) Ltd, Citrus Oleo, and Citromax S.A.C.I.
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