The citrus extracts global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Citrus Extracts Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
citrus extracts market size has grown strongly in recent years. It will
grow from $7.74 billion in 2023 to $8.32 billion in 2024 at a compound
annual growth rate (CAGR) of 7.5%. The growth in the historic period can
be attributed to high nutritional value, growing demand for natural
flavorings, growing interest in herbal remedies, increasing awareness of
citrus health benefits, and growing popularity of citrus-based
essential oils.
The citrus extracts market size is expected to see strong growth in the next few years. It will grow to $11.17 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to growing consumer demand for natural and organic products, rising health consciousness, rising disposable incomes, integration of citrus extracts in functional beverages, and rising trend of plant-based diets. Major trends in the forecast period include technological advancements in citrus extraction processes, the development of new citrus-based products and formulations, the integration of citrus extracts in innovative health and wellness solutions, development of new extraction technologies to improve yield and quality.
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Scope Of Citrus Extracts Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Citrus Extracts Market Overview
Market Drivers -
The
increasing consumer focus on health and wellness is expected to propel
the growth of the citrus extracts market going forward. Rising consumer
focus on health and wellness is driven by increasing awareness of the
benefits of a healthy lifestyle and the prevention of chronic diseases.
Citrus extracts are rich in vitamins, antioxidants, and bioactive
compounds that boost immunity, support digestion, and promote overall
health. For instance, in May 2022, according to the survey released by
the International Food Information Council (IFIC), a US-based non-profit
organization that provides science-based information on food safety,
nutrition, and health, in a survey of 1,005 Americans, 52% reported
following a diet or eating pattern in 2022, a significant increase from
39% in 2021. This rise was primarily observed among individuals under
the age of 50, with popular diets including clean eating (16%), mindful
eating (14%), calorie counting (13%), and plant-based eating (12%).
Therefore, the increasing consumer focus on health and wellness sector
is driving the growth of the citrus extracts market.
Market Trends -
Major
companies operating in the citrus extracts market are focusing on
developing innovative citrus ingredients to meet the growing demand for
natural, health-enhancing products. Citrus ingredients refer to newly
developed, enhanced extracts or compounds from citrus fruits that offer
unique health benefits, flavors, or functional properties for food,
beverages, and supplements. For instance, in June 2022, Givaudan, a
Switzerland-based manufacturer of flavors, fragrances, and active
cosmetic ingredients, and Manus, a US-based biotech company, launched
BioNootkatone, a sustainable and clean-label citrus flavoring
ingredient. This innovative product addresses the growing market demand
for natural flavors while mitigating the supply volatility and
environmental impact associated with traditional citrus extracts.
BioNootkatone is produced using Manus Bio's proprietary BioAssemblyLine
Cell Factory engineering platform, which utilizes a non-genetically
modified organism (non-GMO) sugar source as its starting material.
The citrus extracts market covered in this report is segmented –
1) By Type: Orange, Lemon, Lime, Grapefruit, Other Types
2) By Extraction Method: Cold Pressing, Solvent Extraction, Enzymatic Extraction, Supercritical Fluid Extraction
3) By Form: Liquid, Powder, Essential Oil
4) By Application: Food And Beverages, Pharmaceuticals, Cosmetics And Personal Care, Nutraceuticals
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Regional Insights -
North
America was the largest region in the citrus extracts market in 2023.
The regions covered in the citrus extracts market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
Key Companies -
Major companies
operating in the citrus extracts market are Kerry Group Plc, McCormick
& Company Inc., Symrise AG, Takasago International Corporation,
Naturex SA, Young Living Essential Oils LLC, Citromax Flavors Inc.,
Mountain Rose Herbs, Peace River Citrus Products, Lebermuth Co Inc.,
Citrus and Allied Essences Ltd., LIONEL HITCHEN, Bontoux SAS, Botanic
Healthcare, Ultra International BV, Global Essence Inc., Frutarom
Industries Ltd., Crescent Fragrances Pvt. Ltd., Cifal Herbal Private
Ltd., Ace Technologies
Table of Contents
1. Executive Summary
2. Citrus Extracts Market Report Structure
3. Citrus Extracts Market Trends And Strategies
4. Citrus Extracts Market – Macro Economic Scenario
5. Citrus Extracts Market Size And Growth
…..
27. Citrus Extracts Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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