The scope of our recent study on " Lemon Oil and Lemon Extracts Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Lemon Oil and Lemon Extracts), Category (Organic and Inorganic), and Application [Food and Beverages (Bakery & Confectionery, Dairy & Frozen Desserts, Beverages, and Others), Cosmetics and Personal Care, Household Cleaning Products, Aromatherapy, and Others]" includes the description of factors fueling the lemon oil and lemon extracts market growth, revenue estimation and forecast, and significant market players identification and their key developments. The report also provides a lemon oil and lemon extracts market share analysis.
The lemon oil and lemon extracts 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.
The rising demand for natural ingredients in the food & beverages and personal care industries is expected to drive the lemon oil and lemon extracts market in the coming years. Lemon oil and lemon extracts are used as natural flavoring agents in various food and beverages such as baked products, confections, frozen desserts, ready-to-drink beverages, energy drinks, carbonated beverages, flavored waters, and snacks. Thus, rising utilization of lemon oil and extracts in food and beverages and personal care products and surging demand for natural ingredients fuel the lemon oil and lemon extracts market growth.
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 market share in 2022, whereas the lemon extracts segment is projected to register a higher CAGR during the forecast period. Lemon oil has a higher concentration of lemon flavor than lemon extract. Thus, owing to the increasing demand for lemon oil in various industrial applications, potential lemon oil manufacturers focus on launching new products. For instance, in February 2022, Down Under Enterprises Pty Ltd., a company producing and exporting native Australian essential oil, announced the launch of organic lemon myrtle oil.
Nowadays, people are seeking products that help them look youthful and fresh. People are willing to spend a lot of money on skin care products that make their skin healthy-looking and radiant. Further, increasing internet penetration and rising influence of celebrities and social media on people’s lifestyles are driving the skin care market. Celebrities are actively showcasing their skin care routines on social media platforms, attracting many people. These factors are strongly influencing the demand for skin care products across the globe.
The lemon oil and lemon extracts market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific held the largest share in the lemon oil and lemon extracts market in 2022 and is expected to register the highest CAGR during the forecast period. Since ancient times, natural extracts have been used in personal care and cosmetics products. The natural extracts help enhance skin texture and integrity and hair and nail health. Lemon extract in cosmetic products acts as an antioxidant and possesses antifungal and antibacterial properties. Japan is famous for various cosmetics. Demand for natural and organic cosmetics is growing in Japan. Therefore, the preference for lemon oil and extracts over artificial ingredients is increasing in cosmetic products. All these factors are expected to propel the lemon oil and lemon extracts market growth in Asia Pacific in the coming years.
Impact of COVID-19 Pandemic on Lemon Oil and Lemon Extracts Market
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 to keep themselves healthy and strengthen their immune systems. The demand for products with high vitamin C content or those infused with pure citrus extracts increased dramatically during the pandemic due to their immunity boosting effects. This created a strong demand for citrus extracts, including lemon extracts.
The report segments the lemon oil and lemon extracts market as follows:
Based on type, the lemon oil and lemon extracts market is bifurcated into lemon oil and lemon extracts. Based on category, the market is segmented into organic and conventional. Based on application, the market is segmented into food and beverages, cosmetics and personal care, household cleaning products, aromatherapy, and others. The market for the food and beverages segment is subsegmented into bakery & confectionery, dairy & frozen desserts, beverages, and others. Based on geography, the lemon oil and lemon extracts market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.
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