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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 wellness industry strongly encourages individuals to exercise self-care since it encompasses all four areas of health: mental, physical, spiritual, and emotional well-being. People, particularly teenagers and young working professionals, are finding it difficult to handle stress, which is severely influencing their overall health. Therefore, there has been an increasing emphasis on mental and emotional health in recent years. Aromatherapy is an excellent way of practicing self-care. These therapies involve using essential oils that trigger profound emotional responses in the brain.
Lemon oil can improve mood, reduce stress, improve sleep, boost self-confidence, and improve physical and cognitive performance, as it is considered an adaptogen. Candles infused with citrus oils, including lemon oil, are used in aromatherapy to provide a calming and relaxing effect. People feel positive about their bodies when they smell the citrus scent. According to new research conducted by UK-based Sussex Computer-Human Interaction (SCHI) Lab, people felt lighter when they smelled the fragrance of fresh lemons. The scent of lemon induces self-love and positive body image. In Ayurveda, an ancient medical tradition that originated in India, lemons are known for their immunity-boosting benefits. Thus, the increasing importance of aromatherapy in self-care routines, coupled with a wide range of benefits of lemon oils for aromatherapy, is expected to have a positive impact on the growth of the lemon oil and lemon extracts market over the forecast period.
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. The food and beverages segment accounted for the largest market share in 2022. However, the cosmetics and personal care segment is expected to register the highest CAGR during the forecast period. Lemon oil and extracts act as natural food additives in various beverages to provide traditional lemon flavor. It is used in different mocktails and lemonades. Thus, increasing consumption of beverages across the world boosts the demand for lemon oil and extracts. Its pleasant aroma and flavors are becoming popular in processed food such as baked goods and snacks.
There is a growing trend of consuming frozen desserts after a meal as an effective digestive product. Manufacturers are incorporating lemon oil and extracts into various dairy and frozen desserts as the demand for citrus-flavored products is increasing owing to its pleasant flavor. In food & beverage industry, lemon oil and extracts are also used in pickles, jams, syrups, ready meals, snacks, and dressings. Its antimicrobial properties help maintain the shelf life of various food products. These factors are expected to drive market growth for the food and beverage segment during the forecast period.
Based on region, 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. In 2022, Asia Pacific held the largest share of the lemon oil and lemon extracts market and is estimated to register the highest CAGR during the forecast period. Cosmetic and personal care manufacturers in China are adopting natural essential oil as they possess antimicrobial and antifungal properties. Cosmetic preparations such as gels, creams, and ointments do not require an additional chemical preservative if they contain essential oil or a single compound as an active agent. Lemon oil and extracts are majorly added to cosmetic products, perfumes, and household products due to their variety of properties but most notably due to their pleasant odor. Therefore, all above mentioned factors contributing to the growing lemon oil and lemon extracts market size.
In Asia Pacific, China was the first country to recover from losses due to the introduction of rapid vaccination and effective government regulations. As governments announced the relaxation of restrictions, manufacturers across food & beverages, personal care & cosmetics, and pharmaceuticals & nutraceuticals industries recovered from the losses and began focusing on developing innovative products to cater to consumer requirements. The development of healthier, natural, and immunity-boosting products favored the growth of the lemon oil and lemon extracts market in Asia Pacific. Also, they have a fresh fragrance, which increases their appeal among consumers. This factor also had a positive impact on the lemon oil and lemon extrcats market growth across Asia Pacific.
A few key players operating in the lemon oil and lemon extracts market include Citromax Group Inc, Berje Inc, Lemonconcentrate SLU, Royal Aroma Fragrances Inc, Jedwards International Inc, The Good Scents Co, Denk Ingredients GmbH, Dohler GmbH, Kerry Group Plc, and Lochhead Manufacturing Co. These companies are focusing on new product launches and geographical expansions to meet the growing consumer demand worldwide.
The overall lemon oil and lemon extracts market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the lemon oil and lemon extracts market.