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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The orange oil market in Europe is expected to register a notable growth over the forecast period. This is mainly owing to existence of a large pool of consumers who are willing to spend on premium beauty products, natural cosmetics and fragrances. In terms of revenue, the region is estimated to account for more than one-third share of the global market by the end of 2017.
Based on product type, demand for bitter orange oil is expected remain relatively higher as compared to the variants. Bitter orange oil is extracted using cold-pressing process and is used for preparing lotions that can help in treating various skin conditions. Meanwhile, global sales of sweet orange oil is estimated to account for around for 23% revenue share of the market by 2017-end.
Between natural and organic orange oil, preference for the former is significantly high and the trend is likely to continue throughout the assessment period. Increasing application of orange oil in aromatherapy, therapeutics, cleaning & home, food & beverages, fragrances and toiletries manufacturing is reflecting favorably on its global market.
Some of the leading players operating in the global orang oil market include Symrise AG, Bontoux S.A.S., Lionel Hitchen (Essential Oils) Ltd, Young Living Essential Oils LC, Citrus Oleo Citrus and Allied Essences Ltd., doTERRA International, LLC, Mountain Rose Herbs, Inc., Citromax S.A.C.I., Citrosuco Paulista SA, Ultra International B.V., Plant Therapy Essential Oils, Aksuvital, Biolandes and Aromaaz International.
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