The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Orange Citrus Essential Oil. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Orange Citrus Essential Oil Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Orange Citrus Essential Oil market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Orange Citrus Essential Oil
This newly published and insightful report sheds light on Market Insights of Orange Citrus Essential Oil, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Orange Citrus Essential Oil Market.
The citrus essential oils market continues to witness widespread adoption in multiple industrial applications, ranging from cosmetics and health care to food and beverages. Aromatherapy is another application area of citrus essential oils where demand remains significant in light of their effective therapeutic attributes. According to a recent analysis by Fact.MR, the citrus essential oils sales increased by over 3000 tons in 2018 over 2017.
The study opines sales of citrus essential oils manufactured using grapefruits to witness relatively faster momentum, as chemical constituents of grapefruit are sought-after across various industries. Grapefruit-derived citrus essential oil sales are expected to grow 2X faster than their counterparts in 2019. Additionally, the health benefits of grapefruit essential oils such as weight loss, improved immunity, and alleviation of stress, has led its adoption among producers of the citrus essential oils in line with increased consumer affinity for such products.
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With citrus essential oils labeled as safe for consumption by regulatory authorities, the food and beverages industry continues to incorporate these essential oils into multiple products, in line with the upward trend of “clean label.” Over 30% of sales of citrus essential oils were accounted for by the food industry in 2018. Additionally, there has been a notable rise in the use of citrus essential oils in cake frostings, chocolates, and confectionery, in recent years, with numerous companies launching multiple products that feature these oils as green ingredients.
Apart from their health benefits, citrus essential oils also impart taste and flavors to food products, a reason that has substantially augmented the popularity of citrus essential oils in the food industry. Further, its antimicrobial and antifungal properties have opened up new avenues for citrus essential oils in the packaging industry, and as a natural preservative, thereby driving its sales in the F&B sector.
Recent studies have linked citrus essential oils with curing insomnia, anxiety, and their vital role in the prevention of cancer. Recent researches have increased the possibility of citrus essential oils used in aromatherapy which is gradually regaining its vigor around the world. Due to these reasons, the use of citrus essential oils in healthcare products is expected to register a Y-o-Y growth of more than 7% in 2019 over 2018.
Globalization and the pervasive proliferation of the internet worldwide have streamlined modern-day trade practices. Following the trend, online retail stores have emerged as the fastest-growing distribution channel for various consumers as well as industrial goods, and citrus essential oils are no exception. With aggressive marketing campaigns and lucrative discounts, online retailers continue to win over consumers and consolidate their position in the market. The facility of shopping for required goods from the comforts of home has become a pervasive trend among millennials and the aging population alike.
As awareness regarding the use of citrus essential oils grows, their demand will show no signs of abating for industrial as well as household use. The digital medium provides an extended reach to essential oil manufacturers to target consumers in various regions of a specific country or the world. Online retailers sold over 4000 tons of citrus essential oils in 2018, according to the study.
Europe is estimated to remain the largest market for citrus essential oils, despite the depreciating value of the Euro that has resulted in an upsurge in the cost of citrus essential oils in the region.
The Fact.MR report further tracks the citrus essential oil market for the period 2018-2028. According to the report, the citrus essential oils market is projected to grow at a 4.1% CAGR through 2028.
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Fact.MR, in its new report, offers an unbiased Market Analysis of Orange Citrus Essential Oil, Sales and Demand of Orange Citrus Essential Oil, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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