Sep 17, 2018
Supply-Demand Imbalance to Dictate Moderate Growth of Grapefruit Oil Market Globally, Reveals a New Forecast Study by Fact.MR
by Team Fact.MR
Regulating healthy metabolism, boosting overall immunity, promoting body detoxification, and controlling blood pressure are among the key capabilities of grapefruit oil that enable it to be one of the most sought after natural essential oils worldwide. In addition, an expanding application base of grapefruit oil in food and allied industries, aromatherapy, and perfumeries point to promising prospects for the grapefruit oil market over the next few years. Using grapefruit oil in aromatherapy products, scents and perfumes, and food and beverage flavoring agents promotes relaxation and stabilization of both mind and body, and relieve stress to a great extent. According to the forecast by a new research study on grapefruit oil market presented by Fact.MR, the global grapefruit oil market is slated to expand at a 4% CAGR in terms of revenue, over 2017-2022.
Research has claimed time and again that natural grapefruit oils are highly aromatic and readily catalyze stress relief. Grapefruit oil plays a vital role in formulation of fragrances that boost autonomic nerve balance and improve immunity. Moreover, studies also advocate high applicability of grapefruit oil in stress and aromatherapy especially in work environments. Ongoing parallel research in the fields of aromatherapy and natural essential oils will continue to create attractive opportunities for grapefruit oil producers in the near future. Perfumeries, which are among the largest end use segments in grapefruit oil market, is anticipated to witness a number of patent registrations in the upcoming years – as indicated by the innovations of perfume compositions of various brands, tracked in the report.
In the backdrop of severe imbalance of grapefruit oil supply and demand observed over the recent past, the global grapefruit oil is witnessing a consistently sharp increase in the price of grapefruit oil. Although synthetic production of grapefruit oil from the widely available orange oil is possible, regulatory norms are likely to hit due to high energy consumption and toxic byproducts generation involved in the process. A recent research conducted at the University of Oxford successfully proposes a novel, environmentally sustainable process for grapefruit oil production. The flavoring that this process offers is being claimed to be qualitatively matching naturally sourced grapefruit oil, which is expected to be a strong trigger for innovations in product formulation within the competitive landscape of global grapefruit oil market, in the near future.
Based on the source type, natural grapefruit oil is expected to remain superior in terms of sales revenue over organic grapefruit oil. In 2017, the former registered around two-third share of the total grapefruit oil market value, as indicated by the global grapefruit oil market report. The latter will however demonstrate growth at a moderate pace throughout the projection period. Among different forms of grapefruit oil, the US$ 90 million worth concentrates will continue to hold an important position in the grapefruit oil market, exhibiting a steady CAGR towards 2022 end. Application-wise, aromatherapy is likely to remain one of the top areas of opportunity for grapefruit oil producers, estimated to be reaching beyond US$ 17 Mn by the end of forecast period. However, therapeutics and F&B will possibly outweigh aromatherapy in terms of market value share.
Regional assessment of global grapefruit oil market uncovers unprecedented lead of Europe, attributed to the presence of a robust end use industry base generating demand for low-volume high-value oils such as grapefruit oil. By 2022 end, European market for grapefruit oil is slated to expand at a promising CAGR, followed by Asia Pacific (excluding Japan). Grapefruit oil markets in North America and Japan are foreseen to observe gradual growth over the forecast period. For detailed insights on other aspects of the global grapefruit oil market, write to us.