Citrus Concentrate Market 2023 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the citrus concentrate market was valued at USD 8.2 billion in 2022, and a CAGR of 5.2% is expected during the forecast period. Citrus concentrate often derives from citrus fruits like oranges, lemons, or limes and has versatile applications. It is commonly used in the cleaning of various surfaces, like floors and bathrooms. Citrus concentrate adds flavor to dishes like sauces and beverages. It is an important ingredient in ice creams. Its fresh scent makes it a popular choice for aromatherapy, citrus, and home-made air fresheners.

Citrus concentrate is used in skincare products for its cleansing properties. Increasing consumer awareness about the health benefits of natural products has led to a higher demand for natural and healthy ingredients. The globalization of the food supply chain has increased the availability of citrus concentrate worldwide. Increasing demand for products in pharmaceuticals and aromatherapy is driving the growth of the market significantly. Due to their flavoring and preservative qualities, these products are widely used worldwide.

Impact of Covid-19

Due to disruptions in the supply chain in the early phase of the pandemic, it impacted the availability of raw materials for citrus concentrate production. The closure of restaurants, hotels, and cafes had reduced demand worldwide. Economic uncertainties and changes in consumer behavior led to reduced spending on non-essential items, affecting the demand for citrus concentrate products. Increased demand for healthy food has increased the demand for citrus concentrates in juices and beverages. With more people cooking at home, there was an increase in demand for citrus concentrates used in home recipes and beverages. The pandemic heightened consumer interest in natural and clean-label products, leading to an increased demand for natural flavors like citrus concentrate. Overall, COVID-19 had a mixed impact on the citrus-concentrated market.

Growth Drivers

Increasing demand for citrus concentrate in food, beverages, and the pharmaceutical industry is driving the growth of the market significantly. Citrus concentrates are versatile and not only useful in food and beverages but also in the pharmaceutical industry. Increasing demand for it in aromatherapy is driving the growth of the market.

These are also very useful in the cosmetics industry. The globalization of citrus concentrate has increased its availability worldwide. The expansion in trade and distribution has fueled the growth in the market significantly. Advancements in extraction and processing technology are driving growth in the citrus concentrate market. The versatility of citrus concentrates expands their market potential and drives the growth of the market significantly.

The demand for natural and fresh flavor in juices, soft drinks, sauces, and dressings has contributed to the growth of the market worldwide. Due to rapid urbanization and less time for preparing food, the demand for citrus concentrate is growing worldwide. Increasing disposable income is also a factor responsible for the growth of the market. Growing consumer demand for effective flavors and tastes is the reason behind significant growth in this market. Increasing demand for products in the food and beverage, pharmaceutical, and cosmetics industries is driving growth in the market. Europe and Asia-Pacific are the leading regions in the world.

Segmentation

Source

·         Orange

·         Lemon

·         Lime

·         Grapefruit

·         Tangerine

·         Others

By Form

·         Dry

·         Liquid

By Nature

·         Organic

·         Conventional

End-User

·         Pharmaceuticals

·         Cosmetics

·         Food and Beverages

·         Nutraceuticals

·         Personal Care, and Cosmetics

·         Others

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Citrus Concentrate Market Source Segmentation

On the basis of the source, the citrus concentrate market is segmented into orange, lemon, lime, grapefruit, tangerine, and others. Orange is the leading segment, and the tangerine segment is expected to register the highest growth rate during the forecast period. Increasing demand for the citrus concentrate in food and beverage, cosmetics, and pharmaceuticals industry is driving the growth in the market.

Citrus Concentrate Market Nature Segmentation

On the basis of the nature segment, the citrus concentrate market is segmented into organic and conventional. The organic segment is expected to witness significant growth during the forecast period. Increasing demand for products in cosmetics and pharmaceuticals is driving the growth of the market.

Citrus Concentrate Market By form Segmentation

On the basis of form, the citrus concentrate market is segmented into dry and liquid. The liquid form is expected to witness significant growth during the forecast period.

Citrus Concentrate Market End-User Segmentation

On the basis of end-users, the citrus concentrate market is segmented into food and beverage, nutraceuticals, personal care, cosmetics, and pharmaceuticals. On account of the rising demand for chemical-free and cleanly labeled products by manufacturers in the food and beverage industry and pharmaceuticals, the market is growing. Food and beverage is the leading segment, and pharmaceuticals are expected to dominate during the forecast period.

Regional Outlook

On the basis of the regions, the citrus concentrate market is segmented into 5 regions: Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Due to the large number of consumers present in Europe, it is the leading segment in the world, and the Asia-Pacific region is expected to remain the fastest-growing market in the region.

Increasing demand for citrus concentrate in the beverage sector in the Asia-Pacific region is driving growth in the region. China is one of the leading producers and consumers in the citrus concentrate market. Based on the population and the economy, South Asia is the fastest-growing region in the world. Rising disposable income of consumers and constant urbanization are the factors behind the growth of the South Asian region, including the Indian subcontinent.

Increasing demand for citrus concentrate in the pharmaceutical sector worldwide is driving the growth of the market. North America, especially the United States, and Canada are the big markets due to the presence of key players and rising consumer awareness about the health benefits of these products. The demand for natural and fresh flavors in juices has driven the growth of the market significantly. By segmentation, the orange segment dominates the market.

Key Players

·         Kerry Group

·         Dohler

·         Lionel Hitchen Limited

·         Citromax flavors

·         Flavor Producers

·         Mane Group

·         Takasago International Corporation

·         International Flavors and Fragrances

·         Archer Daniels Midland Company

·         Sensient Technologies Corporation

·         Alg Juices Pty Ltd.

·         Other Players