Lemon Oil and Lemon Extracts Market Worth $1.67 Billion, Globally, by 2028 at 4.3% CAGR | The Insight Partners

Pune, India., April 11, 2023 (GLOBE NEWSWIRE) — According to our new research study on “Global Lemon Oil and Lemon Extracts Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Category, Application, and Geography,” the market is projected to reach US$ 1,674.00 million by 2028 from US$ 1,301.96 million in 2022. It is expected to record a CAGR of 4.3% from 2022 to 2028.

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Global Lemon Oil and Lemon Extracts Market Growth Drivers:
•           Increasing demand for natural and organic products: Consumers are becoming more health-conscious and are seeking natural and organic products. Lemon oil and extracts are considered natural and have various health benefits, such as aiding digestion and promoting skin health. This growing demand for natural products is expected to drive the market growth for lemon oil and extracts.
•           Rising demand from the food and beverage industry: Lemon oil and extracts are commonly used as flavoring agents in the food and beverage industry. As the demand for new and exotic flavors continues to grow, the demand for lemon oil and extracts is also expected to increase.
•           Growing demand for aromatherapy: Lemon oil is a popular ingredient in aromatherapy due to its refreshing and uplifting scent. As more people turn to aromatherapy to reduce stress and improve mood, the demand for lemon oil is expected to rise.
•           Increasing popularity in personal care and cosmetic products: Lemon oil and extracts are commonly used in personal care and cosmetic products, such as skin creams, lotions, and shampoos, due to their antibacterial and antifungal properties. As the demand for natural and organic personal care products continues to grow, the demand for lemon oil and extracts is also expected to increase.
•           Growing awareness of the health benefits of lemon oil: Lemon oil is known to have several health benefits, including boosting the immune system and improving digestion. As more people become aware of these benefits, the demand for lemon oil and extracts is expected to increase.

Global Lemon Oil and Lemon Extracts Market Recent Developments:
•           Launch of new products: Several companies have launched new products in the lemon oil and lemon extracts market. For example, in 2021, Symrise launched a new range of lemon oil-based flavors for the food and beverage industry.
•           Expansion of production facilities: Many companies are expanding their production facilities for lemon oil and extracts to meet the growing demand. For example, in 2020, Citromax, a leading supplier of lemon oil and extracts, announced the expansion of its production facility in Argentina.
•           Rising demand for organic lemon oil and extracts: There has been a growing demand for organic lemon oil and extracts due to increasing consumer preference for natural and organic products. Companies are responding to this demand by increasing their organic production and certification.
•           Increasing use in personal care products: Lemon oil and extracts are increasingly being used in personal care products due to their antibacterial and antifungal properties. This has led to a rise in demand for lemon oil and extracts from the personal care industry.
•           Growing popularity in aromatherapy: Lemon oil is a popular ingredient in aromatherapy due to its refreshing and uplifting scent. This has led to an increase in demand for lemon oil and extracts from the aromatherapy industry.

Asia Pacific to Register Highest CAGR in Lemon Oil and Lemon Extracts Market During Forecast Period:
In Australia, lemon oil and extracts are significantly used for aromatherapy, cosmetics, perfumes, and room fresheners. The demand for organic products is increasing due to consumers’ rising health consciousness. Thus, manufacturers are launching products with organic claim to cater to the increasing demand. For instance, Down Under Enterprises Pty. Ltd. an Australia-based company, has launched its Organic Lemon Myrtle Oil, certified to Organic NOP (USDA) and BioCE standards. Backhousia citridora, commonly referred to as lemon myrtle, is reportedly known for its phenolic compounds with tea drinkers and is a popular ingredient in skincare, hair care and home care.

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Surging Demand for Organic Products to Provide Lucrative Opportunities During Forecast Period:
In recent years, health trends are evolving rapidly, with many consumers choosing organic and clean-labeled products over conventional products. With the increasing number of people suffering from obesity, diabetes, heart diseases, high blood pressure, and skin disorders and rising health awareness among people, the demand for certified organic products is increasing. Thus, the thriving organic industry provides lucrative opportunities to the manufacturers of lemon oil and extracts as these ingredients are widely used in food products, beverages, personal care products, cosmetics, and home care products. All the above mentioned factors are further driving the lemon oil and lemon extracts market growth.

Lemon Oil and Lemon Extracts Market: Segmental Overview
Based on type, the lemon oil and lemon extracts market is segmented into lemon oil and lemon extracts. The lemon oil segment held a larger share of the market in 2022.

Lemon oil is extracted from the peel of fresh lemons via steam extraction or, less often, through a cold-pressed process that pricks and rotates the peel as oil is released. Then water spray is used for flushing out the oil; the oil/water mixture is later filtered and separated by centrifugation. The oil is used in various applications, including aromatherapy, food and beverages, personal care products, pharmaceuticals, and others. It is used as an agent for treating calluses and warts, spot remover, natural repellant in antibacterial therapy, and many more.

Based on category, the lemon oil and lemon extracts market is segmented into organic, and conventional. The organic segment is expected to register a higher CAGR during the forecast period. Organic lemon oil and lemon extracts are produced by using organically harvested lemons. Organic lemons are grown in soil free from chemical fertilizers such as synthetic nitrogen, phosphate, potash, and genetically modified ingredients. Herbicides and synthetic pesticides are also avoided in organic lemon farming. However, some non-synthetic pesticides, such as sulfur, copper sulphate, and potassium permanganate, are allowed.

Based on application, the lemon oil and lemon extracts market is segmented into [food and beverages (bakery & confectionery, dairy & frozen desserts, beverages, and others), cosmetics and personal care, household cleaning products, aromatherapy, and others]. The cosmetics and personal care segment is expected to register the highest CAGR during the forecast period. Due to their therapeutic efficacy, the cosmetics and personal care industry uses lemon oil and extracts as the key active component of novel antiaging and regenerative skincare products. These oil and extracts have high biological potential due to their natural origin and non-toxicity.

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Impact of COVID-19 Pandemic on Global Lemon Oil and Lemon Extracts Market:
Before COVID-19 outbreak crisis, lemon oil and lemon extracts were majorly used as a natural flavoring agent in baked goods, dairy products and frozen desserts, and alcoholic and nonalcoholic beverages. The lemon oil and lemon extracts market was also driven by increasing demand for lemon oil from spas and aromatherapy centers and rising demand for lemon oil infused self-care products. However, spas, and aromatherapy industries faced unprecedented challenges after COVID-19 outbreak in 2020. Lemon oil and lemon extract producers faced significant challenges due to supply chain constraints caused by nationwide lockdowns, trade bans, and travel restrictions.

During the initial phase of COVID-19 pandemic, the implementation of lockdown restrictions and shutdown of manufacturing units led to a production shortfall, which caused disproportion in demand and supply. These factors hampered the profitability of various small-scale and large-scale lemon oil and lemon extract producers. However, people are increasingly seeking natural and safer alternatives such as lemon oil & extracts to keep themselves healthy and strengthen their immune systems. Thus, increased adoption of natural & safe alternatives since COVID-19 pandemic has surged the lemon oil and lemon extracts market growth.

Lemon Oil and Lemon Extracts Market: Competitive Landscape
Citromax Group Inc, Berje Inc, Lemonconcentrate SLU, Royal Aroma Fragrances Inc, Jedwards International Inc, The Good Scents Co, Denk Ingredients GmbH, Dohler GmbH, Kerry Group Plc, and Lochhead Manufacturing Co are a few players operating in the lemon oil and lemon extracts market. These companies are emphasizing on new product launches and geographical expansions to meet the growing consumer demand worldwide. They have a widespread global presence, which provides them to serve a large set of customers from all across the world and subsequently increases lemon oil and lemon extracts market share. These market players are highly focused on launching new products and expanding their product range in specialty portfolios.

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