Citrus Extract Market Industry Share, Size: 2024 Growth, Segments and Forecast - 2031

Citrus extract market is anticipated to grow at a significant CAGR of 8.1% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as rising application in carbonated soft drinks, fruit drinkables, sports & energy drinks, food, and citrus acting as a strong seasoning agent in bakery items and food & beverages, as an immunity booster, maintaining healthy skin are anticipated to emerge driving the growth of the market. According to the World Citrus Organization (WCO), in November 2023, the annual citrus forecast for the coming season in the Northern Hemisphere (2023-24). The prediction is based on information from the US, Egypt, Greece, Israel, Italy, Morocco, Spain, Tunisia, and Turkey. This year, the Forecast shows that citrus production is projected to reach Tons which represents a 12.2% increase compared to the previous peak low season.

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The 2023/2024 forecast is 1.48 higher than normal for the last 4 seasons. The growing consciousness among people towards the injurious effect of artificial synthetic coloring and seasoning agents on health led to the increased demand for using natural coloring and flavor constituents in foods and drinkables, similar as soft drinks, confectionary, herbal tea, and packaged fruit drinks, owing to their nutritious and health benefits has increased the demand for the product.

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Recent Developments

In April 2024, ENEA researchers are developing nutraceuticals prepared from orange, lemon and red vine extracts to lower high blood sugar, as part of the Med-Matrix-3 project, funded by the nutraceutical company Esserre. Preliminary results show that liver cells treated with some bioactive molecules from citrus fruits and red grapes are stimulated to respond to circulating sugar blood levels.

In June 2022, Manus Bio, a biomanufacturer of natural products, and Givaudan, a taste and wellness company, introduced BioNootkatone to meet consumer demand for a sustainable, natural, clean-label citrus flavor without the cost and unpredictability of traditional citrus extracts. In addition to these benefits, BioNootkatone has a natural, refreshing citrus flavor that complements a variety of foods and beverages.

Market Coverage

The market number available for - 2023-2031
Base year- 2023
Forecast period- 2024-2031

Segment Covered-

o By Product

o By Form

o By Application

Regions Covered-
o North America

o Europe

o Asia-Pacific

o Rest of the World

Competitive Landscape- Archer-Daniels-Midland Co., Cargill, Inc., Kerry Group, and Symrise AG, among others.

Key questions addressed by the report.

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
Who is the leader in the market?
How are players addressing challenges to sustain growth?
Where is the investment opportunity?

Global Citrus Extract Market Report Segment

By Product

Orange
Lemon
Grapefruit
Others (Pomelo)

By Form

Powder
Liquid

By Application

Food & beverages
Pharmaceuticals
Dietary Supplements
Personal Care
Others (Cleaning Agents)

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Media Contact:

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Email: anurag@omrglobal.com
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