The Citrus bergamia fruit peel is used to make bergamot oil, which has a refreshing, citrusy scent and is used in various sectors. It is a popular ingredient in perfumes, colognes, and air fresheners, as well as in flavoring teas and candies. The skincare industry has embraced bergamot oil as a soothing ingredient, widely used in lotions and creams for its therapeutic properties. The bergamot oil price graph exhibited a fluctuating trend with an upward bias in the latter half of 2024.
The primary cause of this increase was a supply shortage. Production faced multiple challenges, including unfavorable weather conditions in major producing regions such as Italy, leading to poor fruit harvests that hampered the extraction process. The crop yield was significantly affected by weather-related issues, while the labor-intensive cold-pressing method contributed to rising production costs.
The demand for genuine bergamot oil, particularly from the fragrance and cosmetic industries, continued to grow, resulting in higher prices. Supply constraints and increasing demand contributed to price fluctuations in the latter half of 2024. Due to the scarcity of genuine bergamot oil, many industries were compelled to explore synthetic alternatives or blended oils to meet the growing demand.