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Citrus Aurantium Extract Global Market 2024 - Latest Research, Industry Insights, Emerging Opportunities And Future Outlook By 2033
Citrus Aurantium Extract Global Market
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According to The Business Research Company's, The citrus aurantium extract market size has grown strongly in recent years. It will grow from $3.41 billion in 2023 to $3.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to expansion of the functional food and beverage industry, expansion of the diet*ary suppl*ement industry, rise in popularity of traditional medicines, rise in demand for natural flavoring agents, and rise in demand for functional foods.
The citrus aurantium extract market size is expected to see strong growth in the next few years. It will grow to $4.70 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing consumer preference for natural and plant-based health supplements, increasing awareness of health benefits, rising prevalence of obesity, increasing demand for natural ingredients in food and beverages, and increasing research and development activities. Major trends in the forecast period include technological advancements, eco-friendly production, aromatherapy, natural flavoring agents, and botanical extracts.
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Market Drivers and Trends:
The rising prevalence of obesity is expected to propel the growth of the citrus aurantium extract market going forward. Obesity is a medical condition characterized by excessive body fat accumulation that presents health risks, including heart disease, diabetes, and hypertension. The rising obesity is fueled by factors such as excessive food consumption, a lack of physical activity, an imbalance between calorie intake and expenditure, metabolic disorders, certain medications, and genetic factors. Citrus aurantium extract is used for obesity primarily through its active component, synephrine, which is believed to aid in appetite suppression, boost metabolism, and enhance fat burning in weight loss supplements. For instance, in March 2022, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization, around 1,028 million people were living with obesity in 2022, and this number is expected to rise to 1,198 million by 2025. Therefore, the rising prevalence of obesity will drive the citrus aurantium extract market.
Major companies operating in the citrus aurantium extract market are focusing on developing innovative products, such as standardized extracts, to gain a competitive advantage. Standardized extracts ensure consistency in active ingredient levels, enhancing consumer product reliability. For instance, in 2022, Solgar Inc., a United States-based health nutrition company, launched a new line of Citrus aurantium extract supplements. These products feature a guaranteed p-synephrine content, which is crucial for appetite suppression and metabolic support, and a commitment to non-GMO sourcing. Additionally, the supplements are designed for easy absorption, catering to the growing consumer demand for effective weight management solutions. This trend reflects the broader industry shift towards transparency and quality assurance in herbal supplements, addressing safety concerns while promoting natural health benefits.
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Major Key Players of the Market:
Innophos Inc., Synthite Industries Ltd., Kalsec Inc., Bio Biotinica, BI Nutraceuticals, Sabinsa Corporation, Organic Herb Inc., Layn Natural Ingredients Corp., Naturalin Bio-Resources Co. Ltd., Chengdu Hawk Bio-Engineering Co. Ltd., Martin Bauer Group, Chengdu Chenlv Herb Co. Ltd., Amax NutraSource Inc., Jianhe Biotech Co. Ltd., Nutra Green Biotechnology Co. Ltd., Hangzhou Greensky Biological Tech Co. Ltd., Herbal Creations, Hunan Huachang Chemical Co. Ltd., Merlion Naturals, Ningbo J&S Botanics Inc., Nutramed Scientific, Pharmactive Biotech Products SL
Citrus Aurantium Extract Market 2024 Key Insights:
• The citrus aurantium extract market size is expected to see strong growth in the next few years. It will grow to $4.70 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Obesity Epidemic Fueling Growth Of Citrus Aurantium Extract Market
• Standardization And Innovation In Citrus Aurantium Extract
• North America was the largest region in the global citrus aurantium extract market in 2023
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