Joined: 10 Jun 2019
|Citrus Essential Oil Market Projected to Experience Major Revenue Boost during the Period between 2018 to 2028
by Josephwalker · February 14 , 2019
Citrus essential oils market continues to witness widespread adoption in multiple industrial applications, ranging from cosmetics and health care, to food and beverages. Aromatherapy is another application area of citrus essential oils where demand remains significant in light of their effective therapeutic attributes. According to a recent analysis by , the citrus essential oils sales increased by over 3000 tons in 2018 over 2017.
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The study opines sales of citrus essential oils manufactured using grapefruits to witness relatively faster momentum, as chemical constituents of grapefruit are sought-after across various industries. Grapefruit-derived citrus essential oil sales are expected to grow 2X faster than their counterparts in 2019. Additionally , health benefits of grapefruit essential oils such as weight loss, improved immunity, and alleviation of stress, has led its adoption among producers of the citrus essential oils in line with increased consumer affinity for such products.
Consumption Remains Robust in F&B Sector
With citrus essential oils labeled as safe for consumption by regulatory authorities, food and beverages industry continue to incorporate these essential oils into multiple products , in line with the upward trend of 鈥渃lean label.鈥?Over 30% sales of citrus essential oils was accounted by the food industry in 2018. Additionally, there has been a notable rise in use of citrus essential oils in cake frostings, chocolates, and confectionery, in recent years , with numerous companies launching multiple products that feature these oils as green ingredients.
Apart from their health benefits, citrus essential oils also impart taste and flavors to food products, a reason that has substantially augmented the popularity of citrus essential oils in the food industry. Further, its antimicrobial and antifungal properties have opened up new avenues for citrus essential oils in the packaging industry, and as a natural preservative , thereby driving its sales in the F&B sector.
Recent studies have linked citrus essential oils with curing insomnia, anxiety, and its vital role in the prevention of cancer. The recent researches have increased the possibility of citrus essential oils used in aromatherapy which is gradually regaining its vigor around the world. Due to these reasons, the use of citrus essential oils in healthcare products is expected to register a Y-o-Y growth of more than 7% in 2019 over 2018.
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Online Retail Stores to Lead Citrus Essential Oils Sales
Globalization and pervasive proliferation of the internet worldwide have streamlined the modern-day trade practices. Following the trend, online retail stores have emerged as fastest growing distribution channel for various consumer as well as industrial goods , and citrus essential oils are no exception. With aggressive marketing campaigns and lucrative discounts, online retailers continue to win over consumers and consolidate their position in the market. The facility of shopping for required goods from the comforts of home has become a pervasive trend among millennials and the aging population alike.
As awareness regarding the use of citrus essential oils grows, their demand will show no signs of abating for industrial as well as household use. The digital medium provides an extended reach to essential oil manufacturers to target consumers in various regions of a specific country or the world. Online retailers sold over 4000 tons of citrus essential oils in 2018, according to the study.
Europe is estimated to remain the largest market for citrus essential oils, despite depreciating value of Euro that has resulted in an upsurge in the cost of citrus essential oils in the region.
The report further tracks the citrus essential oils market for the period 2018-2028. According to the report , the citrus essential oils market is projected to grow at 4.1% CAGR through 2028. Growth Outlook: Global Intelligent Transportation System (ITS) Market key Opportunities and Forecast Assessment 2025
by pratibha · January 17, 2019
Qyresearchreports include new market research report Global Intelligent Transportation System (ITS) Market Size, Status and Forecast 2019-2025 to its huge collection of research reports.
An intelligent transportation system (ITS) is an advanced application which, without embodying intelligence as such, aims to provide innovative services relating to different modes of transport and traffic management and enable users to be better informed and make safer , more coordinated, and ‘smarter’ use of transport networks.
On the basis of application, the intelligent traffic control application held the largest share in 2017. This involves a much closer interaction between all of its constituents: drivers, pedestrians, public transportation , and traffic management systems. Adaptive signal systems, driver advisory and route planning, and automated vehicles are some of the goals set up to increase the efficiency of actual systems.
North America held the largest share of the global ITS market in 2017, while APAC is the most promising region for the ITS market, and the market in APAC is expected to witness the highest CAGR becau.