Fact.MR has compiled a market research study on the bergamot oil market that delivers compelling insights regarding the evolving global landscape. The report foresees that the bergamot oil market is expected to witness a moderate CAGR of 3.9%. Steady demand in the fragrance industry, emerging applications in the supplements and growing utilization of natural ingredients in the pharma sector are expected to propel the bergamot oil market.
Myriad of applications across multiple industries is the prime driver identified in the report to support the steadily growing market for bergamot oil. Fact.MR study shows that the bergamot oil market is expected to witness 1.2x growth and surpass US$ 29 million by 2022 end.
Natural segment in the bergamot oil market is estimated to be the largest and account for nearly two-thirds of the market in 2017. Steady demand for natural ingredients in the personal care and cosmetic products is driving the demand for natural bergamot oils in these industries. In addition, consumer preference for label transparency and the natural product trend continue to propel demand for natural bergamot oil. Ongoing demand for organic ingredients is projected to translate into one-third of the revenue share of organic segment and to reach US$ 11 million by 2022 end.