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Pulished Date September, 2021
ID: 12164
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North America Citrus Oil Market by Product (Orange Oil, Lemon Oil), By Application (Personal Care, Food & Beverages, Aromatherapy) By Region (United States, and Canada) – Industry Analysis, Size, Share, Growth, Trends, and Competitive Analysis Forecasts Report 2021-2026

Pulished: September, 2021
ID: 12164
Pages: 150

North America Citrus Oil Market Growth Trends Share Analysis 2021-2026:

North America Citrus Oil Market size was worth USD XX million in 2021, so it is projected to grow at USD XX million by 2026, growing at a CAGR of XX%. 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. The 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.

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 organic substitutes 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.

MARKET REPORT COVERAGE:

REPORT STATISTICS

INSIGHTS

Market Size Available

2020 – 2026

Base Year

2020

Forecast Period

2021 - 2026

CAGR

xx%

Segments Covered

By Product, and By Application

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities, Company Profiles, Primary and Secondary Analysis, Company's Revenue Analysis, and etc.

Counties Covered

The United States, and Canada 

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 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.

Key Players

Major Players in the North America Citrus Oil Market are 

  • Citrus and Allied Essences Ltd.
  • Young Living Essentials Oils LC
  • International Flavors & Fragrances Inc.
  • DoTERRA International LLC
  • The Lebermuth Co.Inc.
  • Archer Daniels Midland
  • Florida Chemical Co. Inc.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                           

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                              

                2.2 Research Phases                      

                                2.2.1 Secondary Research            

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling     

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                      

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                             

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                      

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market               

5. Market Segmentation                                              

                5.1 Product                        

                                5.1.1 Introduction           

                                5.1.2 Orange Oil               

                                5.1.3 Lemon Oil

                                5.1.4  Y-o-Y Growth Analysis, By Product               

                                5.1.5  Market Attractiveness Analysis, By Product             

                                5.1.6  Market Share Analysis, By Product               

                5.2 Application                 

                                5.2.1 Introduction           

                                5.2.2 Personal Care        

                                5.2.3 Food & Beverages

                                5.2.4 Aromatherapy      

                                5.2.5 Y-o-Y Growth Analysis, By Application         

                                5.2.6 Market Attractiveness Analysis, By Application  

                                5.2.7 Market Share Analysis, By Application         

6. Geographical Analysis                                              

                6.1 Introduction                              

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Product

                                                6.1.3.3 By Application

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Product

                                                6.1.4.3 By Application

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Product

                                                6.1.5.3 By Application

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

      7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental      

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services

                                7.2.5 Competitive Rivalry within the Industry      

8. Market Leaders' Analysis                                        

                8.1 Young Living Essential Oils                    

                                8.1.1 Overview

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 Plant Therapy Essential Oils                 

                8.3 TERRA Holdings                        

                8.4 Mountain Rose Herbs                            

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                        

                9.3 Agreements, collaborations and Joint Ventures                          

                9.4 New Product Launches                          

10. Market Outlook and Investment Opportunities                                          

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of by Product, Application and along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. North America Citrus Oil Market By Region, From 2021-2026 ( USD Billion )
  2. North America Citrus Oil Market By Product, From 2021-2026 ( USD Billion )
  3. North America Orange Oil Market By Region, From 2021-2026 ( USD Billion )
  4. North America Lemon Oil Market By Region, From 2021-2026 ( USD Billion )
  5. North America Citrus Oil Market By Application, From 2021-2026 ( USD Billion )
  6. North America Personal Care Market By Region, From 2021-2026 ( USD Billion )
  7. North America Food & Beverages Market By Region, From 2021-2026 ( USD Billion )
  8. North America Aromatherapy Market By Region, From 2021-2026 ( USD Billion )

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