Citrus Extract Market Analysis 2021: Global Top Companies, Current Trends, Growth Factors, Development, Business Opportunities, Demand, Key Companies and Forecast 2026
The use of citrus extract in cosmetic industry for skin benefits will pave the way for the growth of the global market in upcoming future as individuals around the world are becoming more concerned about their health and physical appearance.
Dallas, United States – May 22, 2021 /MarketersMedia/ —
The global citrus extract market is estimated to reach the USD 7.5 billion by 2026, at a CAGR of 4.3% during the forecast period from 2020 to 2026. Growth in the demand for natural and organic product among individuals across the globe has augmented the global market growth. Also, increasing use of citrus extract in food and beverages industry for various health benefits and as a flavoring agent will propel market growth during the forecast period. In addition, rise in the use of citrus extract in cosmetic industry for its skin rejuvenating properties and anti-oxidant activity is boosting the market growth globally.
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The citrus extract is a strong-flavored extract produced from several citrus fruits such as limes, grapes, oranges, lemons, and others. It is commonly used in bakery, seasonings, dairy products, sausages, and confectionery, tea, shakes, smoothies, and other food and beverage products because it imparts fragrance and flavor. The citrus extract is used in the manufacture of desserts and pastries, candies, drink mixes, chocolates, and alcoholic drinks as a natural flavoring agent. The citrus extract is also utilized in the manufacture of hair care and skin care products such as shampoos, creams, face washes, lotions, face packs, and conditioners. The citrus extract is in high demand owing to its uses in pharmaceuticals, food and beverages, and personal care products, so the citrus extract market is likely to grow during the prediction period.
Since consumers prefer affordable, natural, eco-friendly, and organic goods, market players are forced to meet these demands. The citrus extract is in high demand due to its many advantages. It enhances digestion, acts as a detoxifier, and helps in preserving healthy skin. It also aids in the maintenance of good health due to its antiseptic, antidepressant, sedative, carminative, anti-inflammatory, and other products. It also aids in cholesterol reduction and supports proper glucose metabolism, which is beneficial to diabetic patients. Citrus extracts and their derivatives have been shown in experiments to help people lose weight. The demand for clean labels has expanded globally as awareness and visibility have grown, attracting a growing number of health-conscious consumers.
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The citrus extract has a wide variety of benefits, but a lack of consumer knowledge of these benefits is impeding the growth of the citrus extract industry. Consumer recognition is one of the key factors adding to market growth. Accurate marking of end-use items by respective suppliers may be more instructive and beneficial in boosting the citrus extract market response. This will inspire manufacturers to broaden their customer base, boosting the citrus extract market’s growth.
The global market is basically split into product types, applications, and regions. By product type segment, the industry is fragmented into lemon, lime, orange, grapes, and others. On considering the application, this industry is divided into sports drinks, carbonated soft drinks, fruit beverages, and others. If the demand for confectionery and baking products grows in North America and Europe, so does the demand for citrus extract. Citrus fruit demand is strong in Africa and South Asia, and producers are deliberately widening their product portfolio. The citrus extract market is growing due to the simple availability of the resource in these areas. The citrus extract industry is expected to grow in popularity globally over the forecast era, owing to rising demand for its numerous advantages.
Geographically, North America dominated the global citrus extract market. The growth is attributed to the increasing awareness regarding health and nutritive value of citrus acid among North American population especially in the United States and Canada of the region. Additionally, Asia Pacific is anticipated to progress at a rapid growth during the forecast period owing to increased consumption of the citrus extract among population along with growth in the number of citrus trees in the region. Further, high production of citrus extracts in the Africa region is anticipated to create lucrative growth opportunities in the citrus extract industry in the near future.
Major players in the global citrus extract market are The Lebermuth Co. Inc. Mountain Rose Inc. Young Living Essential Oils LC, Bontoux S.A.S. Symrise AG, Citromax Flavors Inc, doTERRA International, LLC. Citrus and Allied Essences Ltd. McCormick & Company, Inc. and LIONEL HITCHEN.
Key Segments of the Global Citrus Extract Market
Product Overview, 2016-2026 (USD Billion)
Orange
Lime
Lemon
Grapefruit
Others
Application Overview, 2016-2026 (USD Billion)
Carbonated Soft Drinks
Fruit Beverages
Sport Drinks
Others
Regional Overview, 2016-2026 (USD Billion)
North America
U.S.
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
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