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Lime Oil Market Size
Lime Oil Market size was valued at USD 299.3 million in 2022 and is estimated to expand at 3.5% CAGR from 2023 to 2032, driven by the growing consumer preference for natural and health-oriented products. Lime oil, extracted from lime peels, is renowned for its refreshing citrus fragrance and versatile applications in the food and beverage, cosmetics, and aromatherapy industries.
The increasing awareness of the benefits associated with natural ingredients, coupled with a rising emphasis on well-being and a preference for products with unique and vibrant flavors, has fueled the demand for lime oil. Additionally, lime oil's antimicrobial and antioxidant properties contribute to its popularity in skincare and aromatherapy products, further propelling its market demand as consumers seek natural and sustainable alternatives in their daily lives.
The availability of raw materials depends on various factors such as climate, weather, and pest attacks. Fluctuations in the prices of raw materials can significantly impact the production cost of lime oil and further affect the market price. This variability in price can negatively impact the global lime oil market.
Why is the demand for distilled lime oil gaining traction?
Distilled lime oil segment accounted for around 68% of revenue share in 2022, due to the surging need for high-quality and concentrated solutions.
What is the size of the lime oil market?
The market size of lime oil reached USD 299.3 million in revenue in 2022 and is set to cross USD 427.2 million by 2032, owing to the rising consumer preference for natural and health-oriented products.
Who are the leading players operating in the lime oil market?
Some of the major lime oil companies are Firmenich, Givaudan, Symrise, DoTerra, Young Living, NOW Foods, and Edens Garden.
How big is the North America lime oil industry?
North America market size was valued at USD 97.6 million in 2022, driven by the increasing consumer inclination towards natural and organic products and the thriving food and beverages industry in the region.