Press release
Citrus Flavors market Exhibits Higher Growth Prospects During 2021-2027 | Kerry Group Plc., Takasago International Corp., Frutarom Industries Ltd.
Citrus Flavors market
The global citrus flavours market is estimated to be valued at US$ 10,556.4 million in 2021 and is expected to exhibit a CAGR of 4.9 % over the forecast period (2021-2028).
North America held dominant position in the global citrus flavors market in 2020, accounting for 29.5% share in terms of value, followed by Europe and Asia Pacific, respectively. North America is projected to maintain its dominance over the forecast period, owing to high preference for citrus flavour products and increasing popularity of citrus aromatherapy
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Detailed Segmentation:
Global Citrus Flavours Market, By Ingredients:
Natural Ingredients
Orange
Lemon
Lime
Grapefruit
Artificial Ingredients
Orange
Lemon
Others
Global Citrus Flavours Market, By Application:
Beverages
Alcoholic beverages
Coffee and tea
Soft drinks
Nutritional beverages
Growing awareness regarding the health benefits of consumption of natural citrus flavors among consumers is projected to drive market growth. It increases the level of antioxidants in the body and also reduced the risk of various metabolic diseases such as diabetes. Moreover, it also helps in maintaining the weight of the obese people and promote various nutrition to the body. Thus, growing awareness regarding the health benefits of citrus flavors among consumer is fueling the market growth.
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The availability of a wide range of citrus flavors around the globe is propelling market growth. For instance, Frutarom Switzerland Ltd. produces a variety of premium citrus flavors such as tangerine, orange, lemon, lime, grapefruit, and others. These flavors are used in various applications such as beverages, dairy, confectioneries, and others as it exhibit enhanced stability. Hence, the availability of a different range of citrus flavor is augmenting the market growth in the near future.
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