According to a new report by analysts at Fact.MR, the global lemon oil market is projected to grow at 4.8% CAGR over the next decade. Sales of lemon oil alone are anticipated to reach a market value of $1.56 billion by the end of 2033. Additionally, lemon oil sales are anticipated to reach a market value of $1.56 billion by the end of 2033.
Lemon oil is often marketed as an energy-boosting essential oil packing a variety of health benefits like wound healing, acne treatment, anxiety reduction and more.
Lemon oil is obtained by way of fresh lemon peels or by cold-pressing lemon rind. It's invigorating and restorative on its own, or it can be blended with other essential oils, like rose, lavender or sandalwood oil, making it a popular choice for those who participate in aromatherapy.
It's also incredibly popular in the food and beverage markets. The functionality of this material is due in part to the purported vitamins in lemon oil said to enhance the immune system and stimulate white blood cells. Because of this, it has applications across soaps, face washes, cosmetics, and other similar aspects of the cosmetics segment, with a claim to anti-infection, antifungal, antiseptic, and disinfectant properties. These factors are key drivers in why the cosmetics segment is predicted to grow to a revenue share of 12.1% by application segment in the lemon oil market.
Associated with health and beauty benefits, lemon oil continues to remain an integral part of the food and beverage segment, which is on its way to crossing $75 million by the end of the forecast period.
According to the report, prime lemon oil manufacturers also have their eyes on launching a variety of new products to drive additional revenue and increase sales potential globally.