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Tangerine Essential Oil Market Size

Report ID: GMI9437
Published Date: May 2024
Report Format: PDF

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Tangerine Essential Oil Market Size

Tangerine Essential Oil Market was valued at USD 1.9 billion in 2023 and is anticipated to grow at a CAGR of over 5.4% between 2024 and 2032. The industry is experiencing a significant upsurge thanks to the increasing popularity of natural and organic products in the personal care and aromatherapy sectors. This trend is driven by consumers' growing awareness and preference for products that offer both therapeutic benefits and natural ingredients. As a result, the demand for tangerine essential oil has skyrocketed, as it is known for its holistic well-being properties. Thus, the market growth is expected to attain a market value of USD 3 billion by 2032.

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Additionally, it’s refreshing and uplifting fragrance has led to its widespread use in skincare, aromatherapy, and even the food and beverage industry. With the prevailing focus on health and wellness, combined with the perceived advantages of tangerine essential oil, the market is expected to continue its positive growth trajectory in the near future.

Tangerine Essential Oil Market Report Attributes
Report Attribute	Details
Base Year:	2023
Tangerine Essential Oil Market Size in 2023:	USD 1.9 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.4%
2032 Value Projection:	USD 3 Billion
Historical Data for:	2021 - 2023
No. of Pages:	120
Tables, Charts & Figures:	199
Segments covered:	Nature, Grade, End-User, Distribution Channel & Region
Growth Drivers:	Growing Demand for Natural and Organic Products Expanding Applications in Various Industries Rising Health and Wellness Trend
Pitfalls & Challenges:	Supply Chain Vulnerability Quality Control and Authenticity Concerns

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The tangerine essential oil industry may encounter a major obstacle caused by weaknesses in its supply chain. This is because various factors such as unfavorable weather, variations in crops, and reliance on specific geographical regions can all play a role in affecting the steady supply of tangerines, which are essential for producing the oil. Any interruptions or changes within the supply chain could pose difficulties in maintaining a reliable production rate, ultimately leading to scarcity and disturbing the market's stability.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Industry size for tangerine essential oil was worth USD 1.9 billion in 2023 and is projected to expand at over 5.4% CAGR from 2024 to 2032, due to the increasing popularity of natural and organic products in the personal care and aromatherapy sectors.

The organic nature segment in the tangerine essential oil industry accounted for USD 1.24 billion in 2023 and is anticipated to grow at significant CAGR between 2024 and 2032, due to heightened consumer preference for certified organic and sustainably sourced products.

The food grade segment in the tangerine essential oil industry recorded 66% market share in 2023 and is projected to witness robust growth through 2032, on account of the growing demand for ready-to-use MRF, owing to its convenience and immediate applicability across various industries.

The U.S. industry accounted for USD 634.6 million revenue in 2023 and is estimated to depict substantial gains between 2024 and 2032, led by the growing consumer preference for environmentally conscious choices and surging demand for wellness and self-care products in the region.