The citrus extract is a robust flavored extract that is derived from various citrus fruits like orange, lime, and grapes, etc. These extracts are mainly rich in aroma and flavor and are widely used in bakery sausages, confectionery, tea, smoothies, and shakes. It is also used as a natural flavoring agent that is used in the making of candies, cakes & pastry, chocolates, and alcoholic beverages. The citrus extract is also used in the manufacturing of hair care and skincare products.
MARKET SCOPE
The "Global Citrus Extract Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the citrus extract market with detailed market segmentation by nature, form, source and application. The report provides key statistics on the market status of the leading citrus extract market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on nature, the global citrus extract market is segmented into organic and conventional.
- On the basis of form, the market is segmented into dry and liquid.
- Based on source, the market is bifurcated into orange, lemon, grapefruit and others.
- On the basis of application, the market is segmented into pharmaceuticals, dietary supplements, cosmetics, food and beverages and others.
MARKET DYNAMICS
Drivers:
- Surging consumption of citrus extract as a preservative and flavouring agent.
- Rising urbanization and increasing per capita disposable income to boost market growth of citrus extract.
- Citrus extract is used as an essential ingredient in several cuisines due to which it is gaining demand across the globe. Rising trend of gourmet cooking is boosting the consumption of citrus extract as a food dressing.
- New market players are entering the market owing to the easy availability of raw materials and low capital requirement.
Restraints:
- Unorganized retail sector in few developing countries
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The citrus extract market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the citrus extract market in these regions.
IMPACT OF COVID-19 ON CITRUS EXTRACT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. Besides this, the consumers are demanding food ingredients that are helpful to boost the immune system. As citrus extract is a rich source of vitamin C, and this nutrient helps to boost the immune system during this pandemic.
MARKET PLAYERS
The report covers key developments in the citrus extract market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from citrus extract market are anticipated to lucrative growth opportunities in the future with the rising demand for citrus extract in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the citrus extract market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Bontoux S.A.S.
- Cifal Herbal Pvt. Ltd.
- Kanegrade Ltd.
- NFC Industry Co. Ltd.
- Orgenetics Inc.
- THE VINCENT CORPORATION
- S.A. Herbal Bioactives LLP
- SPRIG
- Dr. Oetker
- INFINATOR PVT. LTD.
- Xuangcheng Quality Herb Co., Ltd.
- Veda oils
- Hunan Sunfull Bio-Tech Co., Ltd
- Nielsen-Massey Vanillas, Inc.
- Citromax
- C. F. SAUER'S COMPANY
- HERBAL CREATIONS
- McCormick and Company, Inc.
- J.R. WATKINS
- CITRUS EXTRACTS