Lemon Oil Market Trends Shows a Rapid Growth by 2022.
[UKPRwire, Mon Sep 09 2019]
The lemon tree is native to Asia and is widely cultivated for its citrus fruit that is used across the world in both culinary and non-culinary ways. Initially grown purely for an aesthetic and ornamental purpose, the health-benefits of all aspects of the lemon tree have been exhaustively documented, particularly that of lemon oil. Lemon oil is considered an essential oil and is extremely popular for its refreshing, citrusy aroma that seems to reinvigorate people.
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Lemon oil has astringent, antifungal, disinfectant, antiseptic, and detoxifying properties and it can be deployed in a variety of ways. Some examples include house cleaning, laundry, and air freshening. Lemon oil also blends extremely well with other essential oils such as tea tree oil, geranium oil, peppermint oil, sandalwood oil, rose oil, and lavender oil, making it a good choice for herbalists who rely on aromatherapy. All of this is anticipated to boost the overall lemon oil market which is predicted to cross US$ 410 million by the year 2022.
It is a two-horse race in the lemon oil market between the natural segment and the organic one with the scales tilted decisively in favor of the former. A revenue share exceeding two third of the lemon oil market by source type makes the natural segment extremely lucrative and a projected market size of almost US$ 300 million by the end of the forecast period attests the segment's dominance.
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Europe accounts for approx. 2/5 th of the natural segment which can largely be attributed to the awareness and desire of customers in this region to opt for natural products whenever they are available. The organic segment is much smaller and is only a third of the lemon oil market in terms of revenue share. Europe dominates the organic segment as the region contributes almost as much to the lemon oil market as North America and APEJ combined.
Together, the absolute and concentrate segment are more than half of the lemon oil market revenue by form type and key stakeholders are advised to take this into consideration while devising their business strategies. The only two regions poised to have a market value in excess of US$ 40 million in the absolute segment of the lemon oil market are Europe and North America, with the former recording an impressive CAGR. The concentrate segment represents slightly over a quarter revenue share and it is predicted to remain steady during the course of the forecast period.
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|Date:||Sep 9, 2019|
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