July 12, 2019 by Steve Blade
The demand for essential oils such as citronella oil is expected to witness steady growth in the view of a stable adoption of aromatherapy. However, lack of awareness among consumers continues to
According to the recent report published by Fact.MR, the global market for citronella oil is expected to grow at a sluggish pace, procuring just over US$ 70 Mn value by the end of 2022. Lack of awareness regarding the benefits of citronella oil in aromatherapy is expected to curb the growth of global market. The market is also expected to witness restraints due to rising adoption of remedies substituting aromatherapy, which is lowering the demand for essential oils such as citronella oil.
Key Insights from the Report include:
Market Analysis – By Form, Applications & Distribution
Demand for citronella oil in absolute form is anticipated to gain traction. The report projects that concentrates of citronella oil will witness a relatively lower demand due to their limited application. In addition to this, the market will also witness a sluggish growth for blended citronella oil products, pertaining to complexities in their production. In 2017 and beyond, a majority of citronella oil will be used in production of food products & beverages. Being the largest application, sales of citronella oil in food & beverage production is expected to contribute more than US$ 14 Mn by the end of 2022. The report also projects that modern trade outlets will account for largest revenue share in terms of global distribution of citronella oil. Online sales of citronella oil products are also expected to gain momentum, towards the end of forecast period, reflecting a steady growth at 4.8% CAGR.
IL Health and Beauty Natural Oils Co., Inc., Aromaaz International, Green Fields Oil Factory, Aksuvital, Plant Therapy Essential Oils, Linonel Hitchen Essential Oils Ltd., Shaanxi Guanjie Technology Co., Young Living Essential Oils LC, Synthite Industries Ltd., Bio Extracts private limited, D?TERRA International, Greenleaf Extractions Pvt Ltd, and Natures Natural India are profiled in the report as key players that will remain active in the expansion of global citronella oil market through 2022.
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