With the popularity of naturally sourced citrus essential oils (CEOs) growing as a natural preservative in processed food and beverage products, lime oil has been witnessing a passive growth outlook over the past few years. Moreover, despite extending an extensive range of health benefits, lime oil sales revenue is consistently on a decline in the recent years. A new study conducted by Fact.MR on the global lime oil market analyzes the current as well as prospective scenario of the lime oil landscape over the five-year projection period â€" 2017-2022. The report provides an in-depth assessment of the falling lime oil market performance, emphasizing all the market growth influencers that are expected to retain their impact through 2022.
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Lime crop, being weather sensitive, has been witnessing a constant impact on crop size and yield due to adverse climatic conditions, lately â€" especially in key cultivation regions such as Argentina. The subsequent surge in pricing, strongly supported by logistical costs, production prices, and labor charges, will continue to firm over the next few years. Although the spot prices are eased, strong demand will continue to create the supply-demand imbalance in the lime oil market. With fresh lime exports are estimated to see a slight uptake in the near future, the performance of lime oil market is expected to remain passive in the upcoming years.
“Between 2017 and 2022, the global lime oil market is likely to demonstrate negligible expansion, barely reaching the valuation of US$ 488 Mn by 2022 end. Despite an extensive and versatile range of application areas, the overall growth prospects for global lime oil market will remain passive throughout the forecast period,†states a senior market research expert at Fact.MR. The analyst further adds, “The severe demand-supply imbalance translating into a high price point is identified to be the key factor responsible for poor growth estimated for lime oil market during the next five-year timeline.â€
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While Europe is slated to spearhead the global market for lime oil through 2022, it is expected that the region will thrive at a moderate pace. Towards the end of projection period, Europe’s share in the global lime oil market value is likely to expand 1.3X â€" compared to that registered in 2017. North America’s lime oil market is however anticipated to approach the revenue sales worth US$ 112 Mn by the end of projection period.
By source, natural lime oil is foreseen to witness higher rate of adoption over organically sourced lime oil â€" which is poised to lose a significant value share through the course of aid timeline. This scenario is attributed to increasing consumer inclination towards natural ingredients in the recent past. Lime oil producers will continue to explore higher application opportunities in therapeutics that accounted for around 15% revenue share in the total lime oil market value in 2017. Food and beverages also represent a significant application area for lime oil producing companies, holding an estimated share of over one-fifth of the total market value.
The global lime oil market report by Fact.MR in one of its sections focuses on the recent trends analysis and white space opportunity assessment. Detailed competition profiling has also been provided in further sections of the global lime oil market report, with an objective to help established as well as newly entering stakeholders in the global lime oil market space in the near future. Some of the profiled competitors include Lionel Hitchen Essential Oils Ltd., Plant Therapy Essential Oils, Aromaaz International, and Young Living Essentials Oils LC.
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