Limonene Market, Business Will Grow in 2027, Prominent Players: Citrus Company of Belize Ltd. and Spectrum Chemical Mfg. Corp., Astra Chemicals, Lemon Concentrate S.L

The global limonene market is experiencing a significant growth, and is expected to witness same trend in next few years. Limonene is a colorless fluid, aliphatic hydrocarbon classified as cyclic monoterpene, and is a significant component of citrus fruit peel oil. It is commonly used as a fragrance and flavoring agent in the food &beverages industry, and is listed in generally recognized as safe food category by Food and Drugs Administration (FDA). Limonene is available in market in many grades such as food grade, pharmaceutical grade, and industrial grade.

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COVID-19 scenario analysis

The worldwide outbreak of COVID-19 has led to serious consequences in all the economic sectors. The COVID-19 outbreak has created medical emergency, due to which the demand for food items, hygiene products, and medical products is increasing. Moreover, during this pandemic, the sales of traditional, healthy, and staple food items has increased considerably. Frozen non-veg food, fruits& vegetables, eggs, pulses, flour, and whole grains are further experiencing increased demand. However, nonessential products such as packaged foods, coffee, pastries, milkshakes, sweets, chocolates, cheese, and other bakery products have witnessed decline in their sale. The demand for limonene in packaged and processed food industry has declined. Moreover, decline in cosmetics and personal care products have decreased the usage of limonene in manufacturing of these products. In addition, lockdown imposed across various countries has hampered the production and supply chain of cheese manufacturers. Furthermore, the consumer buying behavior may change permanently post COVID-19. On the contrary, companies have to build robust sales plan for recovery, for instance, they might have to adopt e-commerce platform and omnichannel in their supply chain.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Wide application of limonene in various industries is supporting the growth of the limonene market. It majorly finds its application in dietary supplements, which significantly contributes toward the global market growth. Moreover, it is used as fragrance ingredient in the manufacturing of body lotion, creams, oils, soaps, and other cosmetics &personal care products. It is widely used in the pharmaceutical industry, due its health benefit properties. Limonene is helpful in curing bone-related ailments and weight problems. Furthermore, it is used in the manufacturing of insecticides.

Increase in usage of limonene in the food &beverages industry is another driver of the limonene market. Its application in the paint industry has increased, due to rise in need for biodegradable substances in wall coatings and paints. It is used in the paint industry as a replacement of petroleum-based solvent. Owing to limonene’s ability to dissolve oil, it is used in the production of cleaning products such as hand cleansers.

The global limonene market trends are as follows:
Fluctuating limonene prices restrain the market growth
The production and supply of citrus fruits such as oranges, lemons, and lime have been declining from past few years. This decline has created shortage of raw materials for the production of limonene; thus, the limonene market is experiencing frequent fluctuations. The limonene price fluctuation is the major challenge that companies are facing in the market.

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Segments covered
Type, Application, Distribution Channel, and Region

Companies covered
Citrus Company of Belize Ltd. and Spectrum Chemical Mfg. Corp., Astra Chemicals, Lemon Concentrate S.L., Interstate Commodities Corp., Shree Bankey Behari Lal Aromatics, Banner Chemicals Limited Recochem Inc., Florida Chemical Company, and Mentha & Allied Products Private Limited

Regions covered
North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

Key benefits of the report:
• This study presents the analytical depiction of the global limonene industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global limonene market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global limonene market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.

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