According to the report by Future Market Insights, the tangerine oil market is estimated to secure a valuation of US$ 2.3 billion in 2023 and is estimated to rise to US$ 3.6 billion by 2033. The market is anticipated at a CAGR of 4.6% during the forecast period.
| Data Points | Key statistics |
|---|---|
| Expected Market Value of Tangerine Oil in 2023 | US$ 2.3 billion |
| Projected Market Value of Tangerine Oil in 2033 | US$ 3.6 billion |
| Growth Rate of the Tangerine Oil Market from 2023 to 2033 | CAGR of 4.6% |
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Tangerine oil is also used in personal care & cosmetics products, as the demand for natural & organic personal care products increases, the tangerine oil market is expected to grow in the coming years.
The tangerine oil market is driven by increased consumer demand for natural flavors & fragrances and the increased popularity of aromatherapy. Increased awareness regarding the health benefits of tangerine oil like it helps to reduce stress and help in boosting the mood. All these health benefits of tangerine oil are likely to drive market growth during the forecast period.
North America is the largest market for tangerine oil market & trend is expected to continue into the forecast period owing to the high preference for essential oil in the region. The increasing consumer preference towards natural ingredients coupled with ease of application & availability is propelling the market growth in the region.
On the other hand, the tangerine oil market in Europe is witnessing significant growth in recent years due to increased demand for natural ingredients & growing research & development activity.
The Asia Pacific tangerine oil market is projected to grow in near future owing to the increased production of tangerine oil in the region & growing popularity of aromatherapy in the region.
Leading players operating in the tangerine oil market are Now Foods, Symrise, Lionel Hitchen Limited, Lebermuth, Eden Botanicals, Vigon InternationalInc, Citrus, and Allied Essence Ltd, International Flavours & Fragrance Inc. among others.
To keep up with the changing consumer preferences many tangerine oil manufacturers are coming up with innovative product ranges. The market players are focusing on the expansion of the product lines and merger acquisition partnerships to increase their market presence.
In March 2023- Symrise cosmetics ingredients enter in strategic partnership with Synergio, this will help symrise to lead the position in the product protection business in the personal care industry.
The tangerine oil market is expected to gain traction in the coming years with growing demand for aroma therapy, and increased use of essential oil to improve mental health & treat some medical conditions. Thus manufacturers are introducing different products of tangerine oil, all with natural flavors. The start-up companies are offering tangerine oil alongside key market players to contribute to the chamomile oil market growth.
Established in the year 2005, Kanta Enterprises Private Limited, is a leading Manufacturers, Exporter, and Importer of a wide range of optimum quality Natural Oils, Essential Oils, Spice Oil, Pure & Natural Essential Oils, Natural Essential Oils, Ayurvedic Essential Oils, etc. These oils are free from any type of contamination. All the products are extracted from natural sources, including Natural Essential Oils, Carrier Oils, and Spice Oils.
The global sales of tangerine oil are expected to witness progressive growth over the forecast period. There is persistent rising demand for tangerine oil in cosmetics and food & beverages globally which is likely to boost the tangerine oil market in the assessment period.
Tangerine oil is made from the rind of tangerine fruit. Tangerine and oranges have similar properties because they are from the same family. The process of cold expression is used to extract tangerine oil. Tangerine oil consists of alpha thujone, beta-pinene, camphene, myrcene, sabinene, and terpineol, limonene, geranial, gamma terpinolene, geranial, linalool.
Tangerine oil is used to treat anxiety disorders, stress-related disorders, and depression. It makes you feel more energized, confident and refined throughout the day.
Tangerine oil is also used in traditional medicine for many generations. Tangerine oil is widely used in aromatherapy and medical agents. Tangerine oil is applied to directly wounds or taken orally in the body’s healing process due to its anti-inflammatory properties.
Due to the presence of vitamins C, vitamin B, potassium, and magnesium concentration this oil is used to maintain healthy hair and feeding strong follicles. Tangerine oil can apply to any type of skin has anti-aging properties provides a strong hydration level and helps to lighten acne scarring. These are the key factors that drive the demand for tangerine oil.
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The USA is one of the key markets for tangerine oil worldwide. The USA tangerine oil market is to notice a prominent growth rate during the assessment period 2021 to 2031.
Tangerine oil is used as a flavouring agent in the culinary industry in the United States. This oil is used as an ingredient in the soaping industry and is used in perfumes, lotions, and various cosmetics, hair, and skincare products in the United States.
The food & beverages, and cosmetics industry is helping to boost the tangerine oil in the United States.
There is rising demand for essential oils from European countries due to the rising demand for aromatherapy. Essential oil is a more natural way to improve your mental health and treat various physical conditions.
Europeans’ consumers use aromatherapy as a complementary way to improve their health. This is the key factor that drives the demand for tangerine oil in the European Region for the assessment period.
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Some key manufacturers functioning in business in tangerine oil market includes
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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