According to the latest report published by Fact.MR, the global market for orange oil will surpass a valuation of US$ 2,012 Mn by 2022, expanding at a moderate CAGR during the forecast period (2017-2022). Orange oil is a cold-pressed natural oil obtained from citrus sinensis fruit (orange fruit). Orange oil has 90% or above d-limonene and hence often used as a substitute for pure d-limonene. Modern consumers are more inclined towards herbal or natural products than products prepared with synthetic ingredients, owing to the increasing risk of various long-term side-effects. Orange oil contain various herbal properties and normally do not carry any serious effects, qualifying it as a high quality ingredient for wellness, food and cosmetic product manufacturing. Which is why, orange oil is used as a key ingredient for various premium wellness products. In addition, it is also used for food flavoring and aromatic therapies.
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Some theories suggest that orange oil fragrance has carminative, antispasmodic, and antidepressant properties. Factors as such are expected to drive the demand for orange oil over the next couple of years. Rising disposable income and increasing standard of living are some of the additional factors projected to influence the growth of the market. However, high pricey of orange oil often earns it a tag of a luxury product.
Among regions, Europe is projected to remain the most lucrative market for orange oil during the forecast period. This is primarily due to presence of a large pool of premium class consumers in the region who seek for high quality beauty and wellness products, fragrances and natural cosmetics. The region is expected to command for over one-third market share in terms of revenue by 2017-end.
- By product type, the bitter orange oil segment is anticipated to account for relatively higher share than other variants value share of the market through the forecast period. Bitter orange oil is usually obtained through cold-pressing and is use for manufacturing of various skincare products. Meanwhile, sweet orange oil sales are also expected to witness an uptick over the next five years. In terms of revenues, sweet orange oil sales currently command for nearly 23% share of the global market.
- Between organic and natural oil, demand for the latter is projected to remain significantly strong in 2017 and beyond. Growing application of orang oil in therapeutics, food & beverages, toiletries, aromatherapy, cleaning & home, and fragrances products manufacturing is proving favorable for the future prospect of the market.
- By distribution channel, the modern trade segment is projected to account for over 44% revenue share of the market by 2017 end and is likely to remain dominant throughout the assessment period.
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Aromaaz International, Aksuvital, Ultra International B.V., Citromax S.A.C.I., doTERRA International, LLC, Citrus Oleo, Lionel Hitchen (Essential Oils) Ltd, Symrise AG, Bontoux S.A.S., Young Living Essential Oils LC, Citrus and Allied Essences Ltd., Mountain Rose Herbs, Inc., Citrosuco Paulista SA, Plant Therapy Essential Oils, and Biolandes are some of the top companies profiled in the Fact.MR report.