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Tangerine Peel Extract Market Poised to Achieve Significant Growth in the Years to Come
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Tangerine Peel Extract Market Segmentation:
Tangerine peel extract market is segmented on the basis of product form, application, and distribution channels.
On the basis of product form, tangerine peel extract market segments include oil and powder. Among all of these, oil segment holds the major share and is expected to register a growth during the forecasted period. It is soothing to the nervous system also used in tonic preparation for the digestive system, flatulence, and constipation. It is also used mostly in reducing stress and improving circulation for the skin.
On the basis of application, tangerine peel extract market segments include food, beverages, therapeutic medicine, confectionary, bakery, personal care and beauty products, soap manufacturing and others. Among all of these, therapeutic medicine segment holds the major share and is expected to register a steady growth over the forecasted period. Followed by food segment and is expected to fuel the market over the forecasted period. The tangerine peel extract market has also been closely tied with dietary supplements and syrup market. Tangerine peel extract powder is also used in cosmetic and skin care products are expected to register relatively medium growth over the forecast period. It is been also used in equipment and floor cleaning solutions.
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Tangerine Peel Extract Market Regional Outlook:
On the basis of regions, tangerine peel extract market is segmented into following key regions; North America, Latin America, Europe, Asia Pacific & Japan, and The Middle East and Africa.
North America grabs the major share of global tangerine peel extract market. Consumption of tangerine peel extract which benefits potential health and nutrition have more demand in North America regions and it is expected to grow at a steady rate. U.S is one of the major producers of tangerine peel extract for its food and beverages industry. Followed by developing regions and is expected to register an increase in consumption of tangerine peel extract over the forecasted period.
Tangerine Peel Extract Market Dynamics:
With the increasing demand for natural flavors and essence agent, the consumers are more inclined towards using tangerine peel extract as compared to artificial agents, along with the changing lifestyle focused more towards natural products benefit in the global market. Rising application of tangerine peel extract and consumer preference for its fragrance is expected to account an increase in demand in the global tangerine peel extract market. The seasonal availability and fluctuating prices for citrus fruits along with citrus stubborn disease destroying global citrus yield are the only restraint for the Tangerine peel extract market.
Tangerine Peel Extract Market Key Players:
Some of the key players participating the global tangerine peel extract market include Bluegrass Dairy & Food, Inc., NOW foods Inc., Young Living Essential Oils, Kanegrade Limited, Ideal Food Ingredients Limited, Allen Flavors. Inc., Nutra Green Biotechnology Co., Ltd., Sunspray Food Ingredients (Pty) Ltd, Jaimin Essence, and Vita-Pakt Citrus Products Co.
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