To improve the website's functionality, we use cookies, including third-party cookies. Read our Privacy Policy for more information
I AgreeAnalysis of Citrus Peel Extract market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Worldwide citrus peel extract product sales are currently valued at around US$ 7.59 billion. Detailed industry analysis has revealed that the global citrus peel extract market is expected to expand at a CAGR of 4.5% and reach a value of US$ 11.84 billion by 2032.
Over the coming years, the market is set to expand steadily as a result of rising consumer demand for use of natural extracts in food and beverage items with enhanced nutritional values.
Report Attributes |
Details |
---|---|
Market Size (2022E) |
US$ 7.59 Billion |
Forecasted Market Value (2032F) |
US$ 11.84 Billion |
Global Market Growth Rate (2022-2032) |
4.5% CAGR |
North America Market Share (2022) |
33.1% |
Europe Market Share (2022) |
27.4% |
Market Share of Top 3 Countries |
38.9% |
Key Companies Profiled |
|
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Citrus peel extract has a long history of being used in homes for a variety of purposes, such as food flavouring, kitchen equipment cleaning, bone health issues, weight reduction promotion, etc. Citrus peel extract sales are increasing at a similar rate as the functional ingredients market, which is expanding at a high CAGR.
People are moving their preferences towards natural ingredients in addition to the advantages of biotechnology, innovation, and scientific advancements, as synthetic chemicals used in food are more frequently included in the dictionary under “harmful and long-term negative effects”. Herbal extracts and organic components have also gained popularity as alternatives for the same reason.
According to Fact.MR, a market research and competitive intelligence provider, the global citrus peel extract market is predicted to expand at a CAGR of 4.5% to reach US$ 11.84 billion by the year 2032.
“High Use of Citrus Peel Extracts Due to Several Benefits”
One of the factors driving market expansion is increasing public awareness about the advantages of citrus peel extract, such as its antibacterial and other medical benefits and various healing characteristics.
Citrus peel extract is highly popular and in demand in pharmaceuticals, where it is used as a flavouring agent in oral syrups and a variety of other drugs due to its antibacterial properties that aid in the elimination of persistent bacteria that cause cold and fever.
Citrus peel extract is also driven by macroeconomic factors such as rising disposable incomes, which are followed by the rise in consumer annual earnings and expenditures on spas and salons where the goods based on citrus extract are utilized in massage oils for relaxation and aroma.
“Raw Material Cost & Availability of Substitutes May Hamper Sales Growth of Citrus Peel Extracts”
Several limitations and difficulties will impede the expansion of the market as a whole. The market's growth is anticipated to be hampered by issues including the scarcity of fresh products due to their short shelf lives.
Potential barriers impeding the overall expansion of the citrus peel extract market include rising raw material costs and the availability of replacements.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
“New Market Entrants Should Focus on Promotion of Citrus Peel Extract Benefits, Improved Product Design, and Educational Marketing”
Citrus peel extract has a wide range of advantages; however, since many consumers are unaware of its advantages, the market for this product isn't growing as quickly as it could. Therefore, educational marketing and increasing consumer awareness are crucial to the development of the citrus peel extract industry.
Provision of scientific proof on the health and other benefits of citrus peel extract, as well as labelling of end products by manufacturers across sectors, is crucial in response to changing consumer purchasing tactics. This will make it easier for producers to build their customer base, which will also fuel overall market expansion for citrus peel extracts.
Recent Product Launches
“Rapidly Expanding Baking & Confectionery Sector in North America Driving Sales of Citrus Peel Extract Solutions”
In 2022, North America is expected to account for 33.1% of the global market share. The market for citrus peel extracts is expanding as a result of the expansion of the baking and confectionery sectors, particularly in North America and Europe. Europe is likely to hold 27.4% of the global market share in 2022.
Cakes, pastries, and sweets are all known to be prepared using citrus peel extract, a natural flavouring agent. In the future, profitable regional markets are anticipated to develop in Central and South America and the Asia Pacific.
Citrus trees are native to the Asia Pacific region, encompassing South Asia, East Asia, and Australia, and the region consumes a lot of the fruit. Due to its lower acceptance of nutritional beverages than the other regions, the Middle East and Africa regional markets are anticipated to experience relatively slower growth.
“Orange Fruit Extract Highly Popular Due to Aroma & Nutritional Advantages”
Orange extract is expected to account for the largest segment in terms of revenue, in 2022. It has an intense fruit essence with a high alcohol concentration, which lengthens its shelf life.
It is used to flavour and aromatize carbonated soft drinks, bottled water, fruit beverages, functional beverages, and sports drinks with a fresh, energizing flavour.
Expanding the beverage market, supported by the variety of uses for orange extract and its nutritional advantages, is probably going to drive the segment expansion shortly.
Over the projection period, the lemon extract is anticipated to have profitable growth. Lemon extract, which is mostly made from lemon peel, is a common citrus flavouring used in a variety of end-use sectors.
Its unique and exotic flavour and perfume, together with several health advantages like weight management and immunity boost, have led to the product's widespread acceptance among consumers.
Due to its perfume, flavour, and health benefits, such as its high vitamin C content, the market is predicted to increase profitably over the projection period.
Don't Need a Global Report?
Save 40% on Country & Region specific reports
To guarantee a steady supply of their products and prevent price swings, manufacturers are concentrating on forming long-term supply contracts with distributors and suppliers.
The need for R&D in the flavouring sector has been driven by end consumers' desire for novel taste creations and product variety. This will also increase product application over the coming years.
The company first introduced lemon peel extract in Japan in 2012. As a result of its popularity and high consumer demand, the company then made it available abroad.
Citrus extracts commonly add flavour and scent to beverage goods as well as undesirable qualities such as bitter taste. Citrus peel extracts help improve the quality of a product by reducing the bitterness of citrus fruits.
- Premium Report Details -
- Let's Connect -
- Quick Contact -
- Get Started -
Get insights that lead to new growth opportunities
Buy NowGet A Special pricing for start-ups and universities
Enquiry Before Buying- Humble, Yet Honored -
- Related Reports -
The global citrus peel extract market currently stands at US$ 7.59 billion.
By 2032, the market for citrus peel extract is set to reach US$ 11.54 billion.
The North America citrus peel extract market is valued at US$ 2.51 billion.
The top 3 countries account for a market share of 38.9%.