Citrus oil extracts, including d-limonene and linalool, are derived from citrus fruit skin. d-Limonene is a monocyclic terpene with insecticidal properties, especially from the vapor, which primarily acts as a desiccant.
Wide popularity of citrus oil among wellness industry along with high applicability of citrus oil in various end use industries such as food & beverage, cosmetic, etc. are major factors expected to drive the growth of global cold pressed citrus oil market. Consumers spending on food & beverage products are increasing. According to U.S. DEPARTMENT OF AGRICULTURE in 2019, U.S. consumers, businesses, and government entities spent US$ 1.77 trillion on food and beverages in grocery stores and other retailers and on away-from-home meals and snacks. Average annual food-at-home prices were 3.5 percent higher in 2020 than in 2019. Their demand for products with different flavor and taste is growing. Manufacturers are spending high on R&D activities for development of new product in order to attract new customers. Citrus flavors are popular in beverages as well as in other sweet products such as confectionery, cookies and desserts. The main flavor used in soft drinks are cola, lemon-lime and orange, all which are based on citrus oils, and constitute about 80 percent of all soft drinks in the world. Introduction of new products by major players with the focus to increase the product offerings is expected to augment the growth of target market. In 2021, Firmenich, a privately owned fragrance and taste company, launched “Yuzu”. Yuzu’s citrus oil is gently extracted from the peel to create all-natural yuzu flavors. This product launch is expected to help the company to enhance business and increase the revenue share in the global cold pressed citrus oil market.
Flourishing cosmetic industry across the globe and rising demand from consumers for products with enhanced fragrance this is expected to support the growth of target market. In 2018, the U.S. was considered the most valuable beauty and personal care market in the world, generating approximately 89.5 billion U.S. dollars in revenue that year. Manufacturers are using citrus oil in the products as for fragrances and/or skin conditioning agents. In 2020, e.l.f. Cosmetics, a global cosmetic product manufacturer launched “Facial Oil Mists” and “Bite-Size Face Duos”. The products are designed to enhance your mood and treat your skin to a “refreshing cool down. This is expected to help the company to increase the customer base. Factors such as stringent government regulations related to product approval and lack of supply related to raw material are expected to hamper the growth of global cold pressed citrus oil market. In addition, side-effect of some end products is expected to challenge the growth of target market. However, increasing investment by major players for product development and approach towards tracking the untapped market in developing countries are factors expected to create new opportunities for players operating in the cold pressed citrus oil market over the forecast period. In addition, increasing partnership and agreements in order to strengthen the distribution channel is expected to support the revenue transaction of the target market.
Segment Analysis by Region
The market in Asia Pacific is expected to witness faster growth in the cold pressed citrus oil market due to increasing demand from cosmetic and food industry. Increasing consumer’s interest in wellness products and availability of large untapped market is expected to attract players this is expected to support the growth of target market. In addition, favorable business policies and emergence of small and mid-size enterprises with innovative solutions is expected to impact the growth of regional market.
Increasing merger & acquisition activities in order to enhance the business is expected to augment the cold pressed citrus oil market growth.
The global cold pressed citrus oil market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Cold Pressed Citrus Oil Market Segment Analysis, 2019
The global cold pressed citrus oil market is segmented into product type and application. The product type segment is divided into orange oil, lemon oil, grapefruit oil, and bergamot oil. Among product type, the orange oil segment is expected to account for major revenue share in the global cold pressed citrus oil market. The application segment is divided into food & beverages, cosmetics & toiletries, spa & relaxation, cleaning solvents, and medicinal use. The players profiled in the report are Symrise AG, Lionel Hitchen, Bontoux, Citrus & Allied essences Ltd., Young Living Essential oils, Citrus Oleo, Mountain Rose Herbs, doTERRA International, Citrosuco, Citromax S.A.C.I., Givadaun SA, and Takasago International Corporation.
Market By Product Type
Market By Application
Food & Beverages
Cosmetics & toiletries
Spa & Relaxation
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
Wide popularity of citrus oil among wellness industry along with high applicability of citrus oil in various end use industries such as food & beverage, cosmetic, etc. are major factors expected to drive the growth of global cold pressed citrus oil market.
In application the food & beverages segment is growing at faster pace.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are Smiths Medical, Aptalis Pharma US Inc., Philips Respironics, and Monaghan Medical.
The North America is expected to account for major revenue share in the global market.
In product type the orange oil segment is growing at faster pace.
Factors such as stringent government regulations related to product approval and lack of supply related to raw material are expected to hamper the growth of global cold pressed citrus oil market.