Orange Extracts Market Rising Trends, Huge Demand, Business Strategies Hits a CAGR of 5.9% by 2030

The global orange extracts market size was valued at $580.4 million in 2020, and is projected to reach $1,022.0 million by 2030, registering a CAGR of 5.9% from 2021 to 2030.

The rising e-commerce sales, increasing adoption of orange extracts in developing countries, and rising demand from flavoring industry are some of the factors driving the growth of the global orange extracts market.

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Orange extracts is a highly concentrated fruit flavor with a substantial degree of alcohol content, which gives it a longer shelf life and makes it popular choice in the flavoring industry. Orange extracts market is booming owing to increase in adoption of healthy diet across the globe due to rising consumers' disposable income.

The rising demand of orange extracts from cosmetics industry and higher demand for natural flavoring agents are factors driving the growth of the market. However, fluctuating raw material prices and climatic conditions are hindering the market growth of orange extracts.

According orange extracts market analysis, the market is classified on the basis of form, nature, end user, distribution channel, and region. By form, the market is segmented into powder and liquid. Rising trend of consuming orange extracts in variety of beverages have resulted into highest revenue generation in 2020. Based on nature, the market is segregated into organic and conventional. Conventional was the highest revenue generator because conventional orange extracts is widely preferred across various industries such as food & beverages, pharmaceuticals, cosmetics, and confectionery.

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The global orange extracts market is driven by rapid utilization of orange extracts and demand for therapeutic foods & beverages. Healthy diet is a recent trend and has resulted in an increased focus on health, weight, and overall fitness of consumers. Therefore, the demand for premium and super premium products have witnessed a significant growth as a result of growing consumer awareness regarding benefits of orange extracts.

The major players operating in the orange extracts industry are Döhler GmbH, RC Fine Foods, Inc., McCormick & Company, Inc., Jacksonville Mercantile, OliveNation, ADM, Nielsen-Massey Vanillas, Inc., DONGYU USI, Xian Yuensun Biological Technology Co., Ltd, Shaanxi Guanjie Bio-technology Co., Ltd., and Amoretti. These major players have adopted various strategies to expand their market reach. The strategies adopted in the market are product launch, partnership, collaboration, joint venture, and acquisition.

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