The global citronella oil market is set to reach a revenue of $180 million by 2033 and expand at a CAGR of 5%, according to a recent report released by Fact.MR.
Key drivers of market:
- Shift in consumer preference of sustainable solutions (organic and natural ingredients).
- Production of natural citronella oil has less environmental impact than synthetic varieties, thus making it an attractive option for consumers.
- Citronella oil is extensively used in aromatherapy due to its anti-inflammatory and anti-bacterial properties.
- Growing usage of citronella oil for stress reduction and dealing with anxiety.
- Citronella oil aids in the healing of wounds and has antifungal qualities.
Key highlights of the global market:
- Europe currently holds around 40% of share in the global citronella oil market.
- The United States is set to account for the lion’s share in the North America citronella oil market by 2033.
- Germany is likely to dominate the Europe citronella oil market between 2023 and 2033.
- Online sales segment would expand at a CAGR of 4.5% during the forecast period.
- The natural citronella oil category currently holds 60% of share in the global citronella oil market.