The citrus oils market will register a CAGR of close to 5% by 2023
NEW YORK, May 7, 2019 /PRNewswire/ -- About this market
The wide range of applications of citrus oils will drive the market growth in the forthcoming years. The continuously rising popularity of citrus oils in industries including medical and cosmetics, air fresheners, perfumes, and food and beverages will contribute to the market growth considerably. These oils are also being used for cleaning metal surfaces, kitchen utensils, and clothes. Furthermore, it can also be blended with other essential oils eventually making them extremely popular for herbal remedies and aromatherapy. As a result, the continuously increasing applications of citrus oils will contribute to market growth over the forecast period. Analysts have predicted that the citrus oils market will register a CAGR of close to 5% by 2023.
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Market Overview
Perceived health benefits associated with citrus oils
One of the growth drivers of the global citrus oils market is the perceived health benefits associated with citrus oils. The health benefits of citrus oils are expected to promote the sales of citrus oil products during the forecast period.
Increase in availability of substitute products
One of the challenges in the growth of the global citrus oils market is the increase in the availability of substitute products. The increasing adoption of other essential oils is expected to have an adverse impact on market growth during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the citrus oils market during 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented with the presence of several market players. Vendors in the market are focusing on offering organic citrus oils, as organic products are considered healthier and safer than conventional products. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Read the full report: https://www.reportlinker.com/p05770965/?utm_source=PRN
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