Citrus Extracts Market Size, Share, Growth, Analysis, Trends and Outlook 2023-2030.

Global Citrus Extracts Market reached USD 7.1 billion in 2022 and is expected to reach USD 10.7 billion by 2030, growing with a CAGR of 5.3% during the forecast period 2023-2030.

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Market Drivers:

Rising Demand for Natural Flavors and Fragrances is Expected to Drive the Citrus Extracts Market Growth

The tendency of health-conscious consumers has made product components more scrutinized. Since natural flavors don't include artificial chemicals or possible allergies, people tend to see them as healthier than synthetic flavors, such as those made from citrus extracts. Natural scents are gradually replacing synthetic ones in the fragrance business.
Natural scents are gradually replacing synthetic ones in the fragrance business. Citrus extracts are popular choices for natural fragrances in perfumes, cosmetics, and home care products because of their pleasing and revitalizing scents.

Market Segmentation:

The Orange Segment Holds the Largest Market Share in the Citrus Extracts Market

Oranges are one of the most widely cultivated citrus fruits globally. They are grown in many regions, including major citrus-producing countries like Brazil, the United States, China, and Spain. Citrus aurantium L. bloom extract contains 4.5 mg GAE/g DW. The abundant availability of oranges for processing into extracts contributes to their significant market share.

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Citrus Extracts Market Companies:

The major global players in the market include XENA BIOHERBALS PRIVATE LIMITED, Qingdao Vital Nutraceutical Ingredients BioScience Co., Botanic Healthcare, HUNAN HUACHENG BIOTECH INC., Plantae Extracts Private Limited, Green Chem, Henry Lamotte Oils GmbH, Global Essence, CRODAROM SA, and Kerry.

By Type

• Lemon
• Orange
• Grapefruit

By Application

• Carbonated Soft Drinks
• Food

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Geographical Share:

Europe is Dominating the Citrus Extracts Market

Spain and Italy are two of Europe's main citrus producers. Spain, in particular, is a major producer of oranges and mandarins worldwide. These nations' abundance of citrus fruits led to Europe's supremacy in the citrus extracts industry. Oranges, lemons, limes, mandarins, and grapefruits are among the many citrus fruits grown throughout Europe.

Industry Developments:

• In March 2022, Sakurafresh Beverage and Food, a Japan headquartered global beverage and food company has launched its world-acclaimed and awards-winning range of Zero Alcoholic spirits and liqueurs in India.
• In January 2022, Synergy Flavors unveiled new extracts and flavour solutions for the "booming" low and no alcohol category. The range of bitters, fermented notes, gin, pink gin, aperitif, and rum flavors, alongside extracts that deliver warmth, such as the scotch bonnet and peppercorn.

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