GVR Report cover Citrus Extracts Market Size, Share & Trends Report

Citrus Extracts Market Size, Share & Trends Analysis Report By Type (Orange, Lemon, Grapefruit), By Application (Carbonated Soft Drinks, Food), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68038-875-6
  • Number of Pages: 80
  • Format: Electronic (PDF)

Report Overview

The global citrus extracts market size was estimated at USD 7,278.1 million in 2021 and is expected to witness a compound annual growth rate (CAGR) of 4.1% from 2022 to 2030. Increasing usage in carbonated soft drinks, fruit beverages, sports & energy drinks, food, and other industries owing to its several benefits such as acting as a strong flavoring agent in bakery items and fruit beverages, as an immunity booster, maintaining healthy skin, and treating constipation are expected to emerge as the major factor driving the demand for the product. The growing awareness among people towards the harmful effects of artificial synthetic coloring and flavoring agents on health led to the increased demand for using natural coloring and flavoring ingredients in foods and beverages, such as soft drinks, confectionary, herbal tea, and packaged fruit drinks, due to their nutritional and health benefits has increased the demand for the product.

U.S. citrus extracts market size by type, 2020 - 2030 (USD Million)

Several companies are expanding their food and beverage ranges that are incorporating natural citrus extractss to cater to the market. For instance, in April 2022, TREATT a natural extracts and ingredient manufacturer company expanded its range of TreattClear, natural citrus extractss for the beverages industry as citrus is a top trending ingredient-driven by the increasingly health-conscious population.

The U.S. is the largest consumer of citrus extractss in North America. The market for the product is expected to grow significantly over the forecast period owing to the increasing demand for natural flavoring and fragrance agents in carbonated soft drinks, sports & energy drinks, fruit beverages, foods, and confectionary because of the increasingly health-conscious population.

As per the article published by Confectionary Production Magazine, the confectionary business in the U.S. is ranked the largest market in the world worth USD 35 billion with Mars and Hershey being the top market players. As confectionery industry is one of the major applications of citrus extractss in the food segment thus driving the demand for the same in the U.S. market.

The U.S. is a significant importer of citric fruits from Mexico, Chile, South Africa, and Peru owing to the large market for food and drinks, with about 2,445 companies in the country, including NESTLÉ SA, COCA-COLA CO., and PEPSICO INC. This increase in import is a result of the rising demand for citrus extractss in beverages. As a result, the demand for the product in the country is rising.

Type Insights

The orange segment dominated the market and accounted for the largest revenue share of 61.8% in 2021. This is attributed to oranges being a rich source of vitamins and minerals as compared to other fruits. In addition, the concentrated extracts from oranges has significant amount of alcohol which helps in increasing its shelf life.  

Application Insights

The carbonated soft drink industry dominated the market with 36.10% of the revenue share in 2021. The beverage industry for chemical-free naturally flavored carbonated drinks is increasing significantly because of people's health consciousness. 

Global citrus extracts market share, by application, 2021 (%)

In October 2020, Kerry a food company launched a new non-thermal liquid extractsion process to extracts citrus from fruits more efficiently. This new technique will give highly concentrated extractss which can also be used in place of citrus oils. It can be used on a variety of citric fruits that have varied applications in flavored waters, herbal tea, juices, energy drinks, alcoholic beverages, and flavored spirits. This new technology will help in increasing the usage of citrus extractss in food and beverage industries thus increasing the demand for the product.

The increasing demand for the product in the food industry due to its strong flavoring properties, the aroma it provides, and the nutritional benefits which made several companies enter this segment. Some big companies such as Mars Wrigley, Ferrero Group, and Nestlé SA have launched their product ranges incorporating citrus extractss to cater to the increasing market demand.

Regional Insights

Europe dominated the market in 2021 with a revenue share of 33.82% this is attributed to the expanding food industry and beverages industry in countries such as Germany, France, and the U.K. with Germany being the largest market of non-alcoholic beverages such as fruit drinks and sports drinks.

Europe is one of the largest markets for bakery items with Germany, France, U.K, and Italy leading the market. Despite being a producer of citric fruits Europe imports around 40% of the total citric fruits production of South Africa due to increasing demand for citrus extractss as a natural strong flavoring agent in bakery items while at the same time adding nutritional value to the bakery products.

Citrus Extract Market Trends by Region

China is the leading country in citric fruit production and consumption. As of 2020, citric fruit production in China accounted for around 25-30% of the world’s total production of citric fruits this is due to increased consumption of citric fruits and their extractss in cosmetics, non-alcoholic beverages, and confectionery items as china is the third largest market for confectionery and the second largest market for non-alcoholic beverages.

The food processing and beverage sector in India is booming because of the increasing consumer demand for natural, sustainable, and quality products. As per FnB the food processing sector of India ranks sixth in the world while contributing to 70% of total sales, 13 % of exports, and 6% of industrial investment. Thus, this booming food and beverages sector is in turn increasing the demand for citrus extracts.

As per the World data atlas in 2020 the production of citric fruits was 158 million tons which include the major production of orange, lemons, and tangerines. According to The U.S. Department of Agriculture Foreign Agricultural Service global orange production is estimated to increase by 1.4 million tons in 2021-2022 to 48.8 million tons with Brazil, Turkey, and Mexico being the major producers. This increasing production is due to the increasing demand for orange citrus extractss in different industries because of their low cost and easy availability.

Key Companies & Market Share Insights

The market is very competitive with the presence of some big players. Several citrus extracts-infused foods, beverages, and skincare products have been introduced by companies such as Hershey, Amul, Tropicana, Lakme, L’Oréal, St. Botanica, and others over the years because of the increasing demand for clean label and chemical-free products.

The demand for citrus extracts has also been steadily increasing in the pharmaceutical market due to several health and nutritional benefits of citrus extractss. Pharmaceutical companies such as Himalaya, Cipla, and Roche have been incorporating citrus extractss especially orange and lemon in formulations such as lozenges, chewable tablets, and cough syrups. Some of the prominent players in the citrus extracts market include:

  • Botanic Healthcare

  • Global Essence

  • Kerry

  • Plantae Extracts Private Limited

  • XENA BIOHERBALS PRIVATE LIMITED

  • Qingdao Vital Nutraceutical Ingredients BioScience Co., Ltd (VNI)

  • Citrus Extracts LLC.

  • Green Chem

  • Henry Lamotte Oils GmbH

  • CRODAROM SA

  • HUNAN HUACHENG BIOTECH INC. 

Citrus Extracts Market Report Scope 

Report Attribute

Details

Market size value in 2022

USD  7,601.7 million

Revenue forecast in 2030

USD  10,437.1 million

Growth Rate

CAGR of 4.1% from 2022 to 2030

Base year for estimation

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Volume in Tons, revenue in USD million, and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, application, region

Regional scope

North America; Central and South America; Europe; Asia Pacific; Middle East & Africa

Country scope

U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; Thailand; Brazil; Mexico; South Africa; Egypt

Key companies profiled

Botanic Healthcare; Global Essence; Kerry; Plantae Extracts Private Limited; XENA BIOHERBALS PRIVATE LIMITED; Qingdao Vital Nutraceutical Ingredients BioScience Co., Ltd (VNI); Citrus Extracts LLC.; Green Chem; Henry Lamotte Oils GmbH; CRODAROM SA; HUNAN HUACHENG BIOTECH INC.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional, and segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Citrus Extracts Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global citrus extracts market report on the basis of type, end-use, and region:

Global Citrus Extract Market Segmentation

  • Type Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

    • Orange

    • Lemon

    • Lime

    • Grapefruit

    • Others

  • Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

    • Carbonated Soft Drinks (CSDs)

    • Fruit Beverages

    • Food

    • Sports & Energy Drinks

    • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Thailand

    • Central and South America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

      • Egypt

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