North America Citrus Oil Market

North America Citrus Oil Market Size, Share, Growth (2022-2027)

North America Citrus Oil Market size was worth USD XX million in 2021, so it is projected to grow to USD XX million by 2027, growing at a CAGR of XX%.

Overview

It's estimated that the consumption of natural products to boost the nutritional value of food and beverages will accelerate the market forward. In addition, the product's wide availability and accessibility are expected to propel consumption further. Furthermore, as the use of citrus oils grows, so will consumer awareness of their health benefits. These two trends are expected to drive the growth of the market.

Recent Developments 

1. Archer Daniels Midland Company acquired the Florida Chemical Company in January 2019. This takeover will help the business gain market share in the citrus flavor industry.

2. Citrus oil processor Florida Chemical Co. Inc. in Winter Haven, Florida, was purchased by Houston-based Flotek Industries, Inc. According to the deal, Flotek will pay $49.5 million in cash and over 3 million Flotek common shares for all Florida Chemical shares that are still outstanding.

3. Citing a $ 352.5 million purchase and sale deal with Citrus Energy Corporation and two additional working interest owners, Warren Resources, Inc. declared that it had acquired nearly all of Marcellus' assets.

North America Citrus Oil Market Growth

Drivers

Citrus oil demand is anticipated to be driven by factors such as changing consumer lifestyles, rising leisure and relaxation, and a spike in the number of spas and massage centers. Clamour for plant-based isolates in food and beverage, cosmetics, and pharmaceuticals is expected to drive market growth in the coming years. The growing demand for organic products is believed to impact awareness in the coming years positively. The North America Citrus Oil market is expected to be driven by an increase in the number of health centers and clinics and a rising preference for natural treatments in the years ahead. The use of this technology in beauty and personal care commodities may help to boost potential development. The escalating use of the good or service as a massage oil for aromatherapy due to a preference for natural products is expected to be good for overall growth. Because of their advantages, they can be found in a wide range of uses. Citrus oils are used in various end-user industries as flavoring agents, fragrances, solvents, and sanitizers. This oil is also being used in foods and traditional medicines as an organic substitute for conventional medications because of its medicinal and aromatic properties.

Restraints

Citrus oil's high price and perishable nature may stifle consumption and limit the citrus oil market's growth. In addition, the use of synthetic antimicrobial additives and agents is pervasive in many Food & Beverage industries. However, the risk of chronic diseases caused by frequently utilized artificial additives persists in challenging the market.The increased use of pesticides or fertilizer sprays on farms to increase production yield is anticipated to limit the growth of the citrus oil market. Furthermore, the use of chemicals is not limited to the farm; these chemicals are also sprayed on the fruit and vegetables during delivery to extend the shelf-life of the goods and preclude deterioration. Therefore, this criterion is considered to lower the consumption of citrus oil because synthetic chemicals are harmful to people's health, limiting the citrus oil market's growth.

North America Citrus Oil Market Segmentation

The North America Citrus Oil Market is segmented based on Product and Application.

By Product

• Orange oil

• Lemon oil

The market can be categorized further into orange oil and lemon oil.

In 2018, orange oil dominated the market, bringing in about 29% of total sales. The beauty business stands to benefit from rising consumer demand for cosmetics. Orange Oil's antibacterial properties make it a significant component in skin and hair care products. A recent study indicates that regular consumption of these products improves vascular health and the body's ability to absorb vitamin C and regenerate tissues. The sector will flourish as customers become more aware of the possible benefits.

By Application

• Personal Care

• Food & Beverages

• Aromatherapy

The market may be divided into personal care, food and beverages, and aromatherapy.

The personal care market is predicted to grow at the fastest rate. Products like lemon and grapefruit oil are increasingly used as ingredients in skincare products because of their antiseptic and antibacterial properties. To a large extent, the food and beverage industry dominated the market in 2018. Tea, lemonade, and bottled water are all made with citrus oils. Muffins and cookies are baked with citrus oils, too. Other goods, such as yogurt and dip, benefit from the addition of citrus oils for flavoring. In the coming years, this market sector is expected to grow at a faster rate.

Regional Analysis

• U.S

• Canada

• Rest of North America

During the forecast period, North America is likely to have a considerable citrus oil market share attributed to the prevalence of innovative pharmaceutical and food industries and the continued growth for plant-based personal care products, especially in the United States and Canada. In addition, people's growing interest in aromatherapy is helping to drive the business forward in the United States and Canada. Citrus oils and other products are becoming increasingly popular among consumers thanks to aggressive marketing by industry participants and numerous brand improvement initiatives by local producers. When combined with an increase in consumption from the geriatric population, the development of various citrus oil products and the countless health benefits associated with their regular consumption will drive revenues, resulting in growth in the citrus oil market throughout the projection period.

Impact of COVID-19 on the North America Citrus Oil Market

The progression of COVID-19 has had a minor impact on citrus production. The main reason is that its harvesting season runs from December to March and from January to April. Nevertheless, citrus production volume has been impacted due to the spread of COVID-19, which has hampered citrus harvesting. In addition, citrus oil manufacturers face challenges in procuring raw materials and the labor shortage at their manufacturing plants. Another primary source of concern for exporters is the global delay in the opening of ports.Delayed loadings, delayed ships, and slow port deals would impact the citrus oil, which has been hanging in the distribution network. The outbreak has also had significant effects on the retailing industry, declining citrus oil sales.

North America Citrus Oil Market Key Players

Major Players in the North America Citrus Oil Market are 

1. Citrus and Allied Essences Ltd.

2. Young Living Essentials Oils LC

3. International Flavors & Fragrances Inc.

4. DoTERRA International LLC

5. The Lebermuth Co.Inc.

6. Archer Daniels Midland

7. Florida Chemical Co. Inc.