The essential oils of orange market in Italy demonstrated a steady growth, reaching a value of $0.80 per capita in 2023. This is an increase from a value of $0.37 per capita in 2013, showing an overall upward trend over the decade. Specifically, from 2021 to 2023, the market value grew from $0.73 to $0.80 per capita, highlighting an 9.6% increase over these two years. The compound annual growth rate (CAGR) from 2018 to 2023 was approximately 1.03% per annum, indicating moderate market growth over the past five years.
Future trends to watch for include:
- Increasing consumer preference for natural and organic products, potentially boosting demand.
- Potential impact of environmental and sustainability concerns on the production and supply chain of essential oils.
- Rising popularity of aromatherapy and its health benefits which may drive market uptake.
