Citronella Oil Market worth USD XX.XX Million by 2023 | Increasing demand from Cosmetic Industry drives Global Citronella Oil Market
Citronella Oil Market Overview:
Citronella oil is derived mainly from lemon grass, also called Cymbopogon nardus. Growing grass requires a high moisture content and optimal sunlight. The oil can also be derived from different species of cymbopogons. Citronella oil is considered one of the essential oils of industrial importance. This is due to the main benefits of citronella oil, such as aromatic additives, perfumes in the cosmetics and perfume industries. Citronella oil contains more than 80 components, some of which are highly concentrated in the oil and have repellent properties in the oil. It is considered that some of the important components, such as geranial, limonene and citronellal have desirable repellent characteristics.
Citronella Oil Market Value:
According to the research report, the Citronella Oil Market was valued at USD XX Million in 2018, and it is expected to reach at USD XX Million by the end of 2023, with increasing a CAGR of XX% during the forecast period 2018-2023.
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Citronella Oil Market Drivers and Restraints:
The global market for citronella oil is mainly due to the growing demand of the perfumery and cosmetics industries. Lemongrass oil offers many remedies, including the control of anxiety and stress, the ability to eliminate insects and leeches from the body, etc. These are some of the factors that stimulate the global consumption of lemon grass oil. In addition, citronella oil has unique properties, such as olfactory and stable technical properties. These properties are extremely essential for industries such as perfumes, since they must incorporate essences of composition and suitable mixture, which in turn stimulate the world citronella oil market. However, the citronella oil substitute, such as citrus and turpentine synthetic eucalyptus isolates, could restrict the world market for lemongrass oil.
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Citronella Oil Market Geographical Segmentation:
The global market for citronella oil is divided into seven regions: North America, Latin America, Asia Pacific, Europe, Japan, and Middle East and Africa (MEA). Asia Pacific owns most of the world market share for citronella oils due to the high production of essential oils for the perfume and flavor industry and also shares an important contribution to the export of essential oils. Major countries such as Sri Lanka, India, China, Java, Indonesia and Taiwan lead the citronella oil market in terms of production in the APEJ region. North America and Europe are following the Asia Pacific and are expected to experience an average CAGR growth during the forecast period. Latin America plans to project a stable growth rate in value during the forecast period.
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Key Takeaways from this Accounting Software Market Report:
• For different product types, end use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the market potential.
• Identify various driving factors, constrains and untold opportunities that can impact the global marketplace
• Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
• Increase overall revenue by understanding the geographical impact on sales and distribution channels.
• Evaluate the increase in values at each step of industry supply chain to improve process efficacy and optimize the value.
• Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
• Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide market in over 20 top nations.
Citronella Oil Market Key Players:
Van Aroma, Reho Natural Ingredients, Manohar Botanical Extracts Pvt. Ltd., KIC Chemicals, Inc., Wuhan Dahua Weiye Pharmaceutical Chemical Co., Ltd., Fujian Gaoke Daily Chemical Co., Ltd., AOS Products Private Ltd., Gramme Products, Aromacare Herbals, and Meena Perfumery, K.K. Enterprise are the major players of the market.
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