According to the latest report by IMARC Group, titled “Citrus Extract Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global citrus extract market size is anticipated to exhibit a CAGR of 4.27% during 2022-2027. Citrus extracts refer to the strong-flavored, fruit-based extracts with a distinctively rich aroma. They are rich in vitamin C, potassium, folate, calcium, thiamin, niacin, phosphorus, magnesium, copper, riboflavin, and pantothenic acid. As a result, their consumption assists in controlling weight, strengthening the immune system, and promoting healthy skin and hair. Numerous food items are prepared using these extracts due to their beneficial properties and enhanced aroma and flavor. Additionally, they are widely used as natural flavoring agents in the formulation of several alcoholic beverages, pharmaceutical products, and personal care products.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Citrus Extract Market Trends:
The global market is majorly driven by the shifting preferences of consumers towards bio-based and natural ingredients over synthetic ingredients. This can be attributed to the increasing uptake of organic and high nutritional value food products among the masses due to the growing health consciousness. In addition to this, with the rising awareness regarding the health benefits of citrus extracts, the sales of natural ingredient-based personal care products are gradually rising, which is providing an impetus to the market. The market is further driven by the extensive research and development (R&D) activities conducted by the key players focusing on introducing value-added product variants in the market. Favorable government initiatives promoting sustainable, eco-friendly, and natural products are also significantly contributing to the market growth. Some of the other factors creating a positive market outlook include inflating disposable income levels, rapid urbanization, considerable growth in the cosmetics industry, and the expansion of numerous spa and aromatherapy centers.
- Based on the product, the market has been segmented into orange, lime, lemon, grapefruit, and others.
- On the basis of the application, the market has been divided into carbonated soft drinks (CSDs), fruit beverages, bottled water, functional beverages, sports drinks, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Bontoux, Citromax Flavors Inc, Citrus and Allied Essences Ltd., Doterra International LLC, Mountain Rose Inc., Symrise AG, The Lebermuth Co. Inc., and Young Living Essential Oils LLC.
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