CITRUS OIL MARKET ANALYSIS

Regional Analysis

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Regional Analysis: Citrus Oil Market

Dominating Region: Europe

Europe is expected to account for the greatest revenue share, with 39.8% in 2024.In Europe, the dominance in the citrus oil market can be attributed to favorable policies that support the agriculture sector alongside the growing popularity of natural products. For instance, data released on January 29, 2024, the European supplements farm incomes with subsidies, promoting large-scale mechanized cultivation of citrus fruits. Furthermore, trade alliances such as Agriculture & rural development European Commission have strengthened regional collaboration and networks for distribution of citrus produce within the continent.

Fastest-Growing Region: North America

the North America region exhibits the fastest growth, driven by factors such as rising spending power, increasing health consciousness, and expansion of spas and aromatherapy centers. Developing countries like U.S. and Canada are witnessing a surge in demand for therapeutic-grade essential oils. Local companies, such as Firmenich S.A., in these markets have also ramped up extractions to fulfill domestic needs and engage in overseas trades.

Citrus Oil Market Outlook for Key Countries

U.S.: The U.S. market is led by companies focusing on innovation and quality certifications in citrus extraction processes.

Mexico: Mexico market benefits from close proximity to its northern neighbor and well-established trade links.

Brazil: Brazil market continues to lead imports to non-adjacent regions due to its large output of orange and grapefruit.

India: Indian companies like Emami are expanding extraction facilities to take advantage of availability of raw materials and capture emerging demand.

China: China's market is also growing rapidly due to a thriving wellness industry and increasing acceptance of natural ingredients.