ROCKVILLE, Maryland, Feb. 12, 2019 /PRNewswire/ -- The widespread adoption of citrus essential oils for multiple industrial applications including cosmetics, healthcare etc., has been steering growth for the concerned market at the global level. Fact.MR has published a new research study which examines the overall market development for citrus essential oils for the period until 2028. This assessment is titled "Citrus Essential Oil Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2028", which showcases the global footprints along with the expanding scope for citrus essential oils in promises industries such as agriculture and F&B.
According to the report, the rising emphasis on organic ingredients, clean label gains and product quality are seen as the prominent market drivers for citrus essential oils. Interestingly, aromatherapy is one striking application segment of citrus essential oils which is expected to deliver attractive demand in the near future. The effective therapeutic attributes of citrus essential oils is expected to motivate sales by more than 3000 tons in 2018, as compared to the figures recorded in 2017.
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Popularity as Natural Preservative Pushes Demand for Citrus Essential Oils
Considering the food & beverage sector, high level of emphasis on preservative packaging is augmenting on a timely basis. It has been recorded that synthetic antimicrobials and preservatives are dominant among F&B companies for preventing spoilage, chronic disease risk etc., but the challenges associated to their usage are dwindling the marketplace.
Citrus essential oils have appeared as a key solution for replacing synthetic food preservatives, as a result of their rich limonene content which exhibits sturdy antibacterial and antifungal properties. It has been assessed that adoption of citrus essential oils stays strong due to their potential application concerning biodegradable food packaging solutions. Citrus essential oils are basically natural preservatives which are promoting environmental-friendly preserving and packaging techniques to the food companies active around the world.
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Citrus Essential Oils Sales Led by Online Retail Stores
Modern-day trade activities have been modified with the expansion of globalization. The availability of online retail stores has fastened the distribution of various consumer as well as industrial goods, including citrus essential oils. Currently, the incorporation of smart marketing campaigns together with lucrative discounts have favored online retailers to attract consumers.
It is highly true that the digital medium delivers an extended scope to essential oil manufacturers for targeting consumers in diverse regions. According to research statistics posted by Fact.MR, online retailers managed to sell over 4000 tons of citrus essential oils in the year 2018. Looking at the broader picture, the citrus essential oils market is estimated to grow at 4.1% CAGR through 2028, due to the persuading effects of the above mentioned factors.
Based on the geographical front, Europe is likely stay at the top with its largest market share for citrus essential oils. Surprisingly, even though with the depreciating value of Euro, there has been an increase in the cost of citrus essential oils in the concerned region.
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