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Global Citrus Extract Market by Product (Orange, Lime, Lemon, Grapefruit), by Application (Fruit Beverages, Carbonated Soft Drinks) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: FFA-74394
  • Author: Up Market Research
  • Rating: 5.0
  • Total Reviews: 81
  • No. Of Pages: 210
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  • Pub. Date: 2021-10-21
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Summary of the Report

Global citrus extract market was valued at USD 56 billion in 2019. It is expected to grow at a compound annual rate (CAGR of 4.2%) between 2020 and 2027. The market is expected to grow due to a growing demand for natural extracts in food products and beverages with higher nutritional values.

The market growth is expected to be boosted by the availability of raw materials in excess across all geographies and their accessibility. The forecast period will see a rise in consumer interest in natural food ingredients due to their many health benefits.

The Asia Pacific, Central, and South America markets have seen a significant increase in product demand due to macroeconomic factors like rising disposable incomes, growth in consumer annual incomes, and spending on spas, salons, and massage oils.

Citrus extracts are well-known for their health and personal care benefits. They can be used to help with weight management, skin care and hair care. These benefits have increased the demand for products in end-use industries such as pharmaceuticals and nutraceuticals. The market is likely to grow due to the preference of end users for natural and bio-based ingredients over synthetic.

In 2020, the unprecedented COVID-19 pandemic that caused the closure of many factories and manufacturing sites as well as industrial shutdowns is expected to reduce production. The worst-hit countries by the pandemic include the U.S. and China, India, France, Germany, Italy, France and Italy. Trade halts across all geographies have caused disruptions to supply chains in countries heavily dependent on imports like the GCC. The other side is positive. In 2020, there will be a rise in consumption due to the increased use of citrus extracts such as lemon for immunity and health.

Product Insights

Orange extract was the most profitable product segment, with 53.5% of all revenue in 2019. It is a concentrated flavor of fruit that contains a substantial amount of alcohol, which increases its shelf-life. It can be used to add fresh, refreshing flavors and aromas to carbonated soft drinks and fruit beverages. The segment's growth will be driven by the variety of orange extract applications and its nutritional benefits.

Over the forecast period, lemon extract will experience a lucrative growth. The main ingredient in lemon extract is orange peel. It is used widely as a citrus flavoring in many industries. The product's distinctive flavor and aroma and many health benefits such as weight management, immunity booster, and weight loss have made it a popular choice for consumers around the world. This segment will see a significant growth in the future due to its flavor and aroma as well as its health benefits, such high vitamin C content.

In the coming years, grapefruit and lime extracts will share a significant revenue share. Grapefruit extract is made of the grapefruit pulp and its seeds. It is well-known for its essential oils and antioxidant properties.

Application Insights

With a revenue share in 2019 of 30.7%, carbonated soft drinks was the most prominent segment in the orange extract market. The use of citrus extracts is in carbonated soft drinks (CSD), functional drinks, and sports drink applications. The growth of the functional beverages and other sports drinks segments has been supported in part by rising health concerns such as obesity and nutritional deficiencies. The expanding number of retail stores, which include convenience stores and supermarkets has increased its penetration in all geographies.

The demand for fruit beverages is expected to rise due to the increasing adoption of healthy lifestyles and westernization in the developing world. The forecast period will see a steady increase in product demand due to increased variety and product launches from giant fruit beverage manufacturers like Tropicana.

The demand for healthier juices with less sugar and real fruit extract ingredients has increased the use of citrus extracts in fruit drinks. Natural citrus extracts are also used in bottled water, due to increasing concern about the health effects of chemical-based ingredients.

Regional Insights

North America was the top regional market for citrus extracts by revenue in 2019, with a 33.1% market share. Consumer awareness about nutrition and health is the driving force behind North America's market. Nestle S.A. and Coca-Cola are also key end users.

The growing acceptance of natural ingredients in beverages is driving the Europe market. The European region is one of the first to adopt bioeconomy. Natural and bio-based beverages ingredients have seen significant growth. The European Commission states that the region's bioeconomy supports the use of bio-based products in the industrial sector. Citrus extracts, as bio-based and natural flavors, offer significant growth potential for Europe.

In the future, lucrative regional markets will emerge in Asia Pacific, Central and South America. The product consumption in the Asia Pacific region, including South Asia, East Asia and Australia, is high. Due to the lower adoption of nutritional drinks in the region, the Middle East and Africa regions are likely to experience slower growth than the rest.

Market Share Insights & Key Companies

Symrise AG and The Lebermuth Co. Inc. are key players in the product's manufacturing. They collectively have a large market share in terms revenue. The market is consolidating with an increasing number of mergers or acquisitions with mint cultivation and distribution players.

The ease and availability of raw material has made it easier for new entrants to enter the market, particularly in Asia Pacific. The market leaders' most prominent operational strategies include securing high-growth areas, acquisitions, investments and the construction and operation of fully optimized supply chains.

The manufacturers are also focused on establishing long-term supply contracts with distributors/suppliers to ensure the continuous supply of their products and avoid price fluctuations. The flavoring industry is driven by the need for R&D. This has led to new flavor development and product diversification. This will likely increase product application. The market leader in citrus extract is:

  • The Lebermuth Co. Inc.

  • Mountain Rose Inc.

  • Young Living Essential Oils LC

  • Bontoux S.A.S.

  • Symrise AG

  • Citromax Flavors Inc

  • DoTERRA International LLC.

  • Citrus and Allied Essentials Ltd.

Up Market Research published a new report titled “Citrus Extract Market research report which is segmented by Product (Orange, Lime, Lemon, Grapefruit), by Application (Fruit Beverages, Carbonated Soft Drinks), By Players/Companies doTERRA International LLC, Symrise AG, Bontoux SAS, Mountain Rose Inc, Citrus and Allied Essences Ltd, Young Living Essential Oils LC, The Lebermuth Co Inc, Citromax Flavors Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleCitrus Extract Market Research Report
By ProductOrange, Lime, Lemon, Grapefruit
By ApplicationFruit Beverages, Carbonated Soft Drinks
By CompaniesdoTERRA International LLC, Symrise AG, Bontoux SAS, Mountain Rose Inc, Citrus and Allied Essences Ltd, Young Living Essential Oils LC, The Lebermuth Co Inc, Citromax Flavors Inc
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages210
Number of Tables & Figures147
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Citrus Extract Industry Outlook

Global Citrus Extract Market Report Segments:

The market is segmented by Product (Orange, Lime, Lemon, Grapefruit), by Application (Fruit Beverages, Carbonated Soft Drinks).

Citrus Extract Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Citrus Extract Market

Overview of the regional outlook of the Citrus Extract Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Citrus Extract Market Overview

Highlights of The Citrus Extract Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Citrus Extract Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Product:

                1. Orange

                2. Lime

                3. Lemon

                4. Grapefruit

        7. By Application:

                1. Fruit Beverages

                2. Carbonated Soft Drinks

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Citrus Extract Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Citrus Extract Market Trends

Reasons to Purchase the Citrus Extract Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Citrus Extract Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Citrus Extract Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Citrus Extract Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Citrus Extract Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Citrus Extract Market Size & Forecast, 2018-2028 
      4.5.1 Citrus Extract Market Size and Y-o-Y Growth 
      4.5.2 Citrus Extract Market Absolute $ Opportunity 


Chapter 5 Global Citrus Extract Market Analysis and Forecast by Product
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Product
      5.1.2 Basis Point Share (BPS) Analysis by Product
      5.1.3 Absolute $ Opportunity Assessment by Product
   5.2 Citrus Extract Market Size Forecast by Product
      5.2.1 Orange
      5.2.2 Lime
      5.2.3 Lemon
      5.2.4 Grapefruit
   5.3 Market Attractiveness Analysis by Product

Chapter 6 Global Citrus Extract Market Analysis and Forecast by Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Application
      6.1.2 Basis Point Share (BPS) Analysis by Application
      6.1.3 Absolute $ Opportunity Assessment by Application
   6.2 Citrus Extract Market Size Forecast by Application
      6.2.1 Fruit Beverages
      6.2.2 Carbonated Soft Drinks
   6.3 Market Attractiveness Analysis by Application

Chapter 7 Global Citrus Extract Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Citrus Extract Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Citrus Extract Analysis and Forecast
   9.1 Introduction
   9.2 North America Citrus Extract Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Citrus Extract Market Size Forecast by Product
      9.6.1 Orange
      9.6.2 Lime
      9.6.3 Lemon
      9.6.4 Grapefruit
   9.7 Basis Point Share (BPS) Analysis by Product 
   9.8 Absolute $ Opportunity Assessment by Product 
   9.9 Market Attractiveness Analysis by Product
   9.10 North America Citrus Extract Market Size Forecast by Application
      9.10.1 Fruit Beverages
      9.10.2 Carbonated Soft Drinks
   9.11 Basis Point Share (BPS) Analysis by Application 
   9.12 Absolute $ Opportunity Assessment by Application 
   9.13 Market Attractiveness Analysis by Application

Chapter 10 Europe Citrus Extract Analysis and Forecast
   10.1 Introduction
   10.2 Europe Citrus Extract Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Citrus Extract Market Size Forecast by Product
      10.6.1 Orange
      10.6.2 Lime
      10.6.3 Lemon
      10.6.4 Grapefruit
   10.7 Basis Point Share (BPS) Analysis by Product 
   10.8 Absolute $ Opportunity Assessment by Product 
   10.9 Market Attractiveness Analysis by Product
   10.10 Europe Citrus Extract Market Size Forecast by Application
      10.10.1 Fruit Beverages
      10.10.2 Carbonated Soft Drinks
   10.11 Basis Point Share (BPS) Analysis by Application 
   10.12 Absolute $ Opportunity Assessment by Application 
   10.13 Market Attractiveness Analysis by Application

Chapter 11 Asia Pacific Citrus Extract Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Citrus Extract Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Citrus Extract Market Size Forecast by Product
      11.6.1 Orange
      11.6.2 Lime
      11.6.3 Lemon
      11.6.4 Grapefruit
   11.7 Basis Point Share (BPS) Analysis by Product 
   11.8 Absolute $ Opportunity Assessment by Product 
   11.9 Market Attractiveness Analysis by Product
   11.10 Asia Pacific Citrus Extract Market Size Forecast by Application
      11.10.1 Fruit Beverages
      11.10.2 Carbonated Soft Drinks
   11.11 Basis Point Share (BPS) Analysis by Application 
   11.12 Absolute $ Opportunity Assessment by Application 
   11.13 Market Attractiveness Analysis by Application

Chapter 12 Latin America Citrus Extract Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Citrus Extract Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Citrus Extract Market Size Forecast by Product
      12.6.1 Orange
      12.6.2 Lime
      12.6.3 Lemon
      12.6.4 Grapefruit
   12.7 Basis Point Share (BPS) Analysis by Product 
   12.8 Absolute $ Opportunity Assessment by Product 
   12.9 Market Attractiveness Analysis by Product
   12.10 Latin America Citrus Extract Market Size Forecast by Application
      12.10.1 Fruit Beverages
      12.10.2 Carbonated Soft Drinks
   12.11 Basis Point Share (BPS) Analysis by Application 
   12.12 Absolute $ Opportunity Assessment by Application 
   12.13 Market Attractiveness Analysis by Application

Chapter 13 Middle East & Africa (MEA) Citrus Extract Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Citrus Extract Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Citrus Extract Market Size Forecast by Product
      13.6.1 Orange
      13.6.2 Lime
      13.6.3 Lemon
      13.6.4 Grapefruit
   13.7 Basis Point Share (BPS) Analysis by Product 
   13.8 Absolute $ Opportunity Assessment by Product 
   13.9 Market Attractiveness Analysis by Product
   13.10 Middle East & Africa (MEA) Citrus Extract Market Size Forecast by Application
      13.10.1 Fruit Beverages
      13.10.2 Carbonated Soft Drinks
   13.11 Basis Point Share (BPS) Analysis by Application 
   13.12 Absolute $ Opportunity Assessment by Application 
   13.13 Market Attractiveness Analysis by Application

Chapter 14 Competition Landscape 
   14.1 Citrus Extract Market: Competitive Dashboard
   14.2 Global Citrus Extract Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 doTERRA International LLC
      14.3.2 Symrise AG
      14.3.3 Bontoux SAS
      14.3.4 Mountain Rose Inc
      14.3.5 Citrus and Allied Essences Ltd
      14.3.6 Young Living Essential Oils LC
      14.3.7 The Lebermuth Co Inc
      14.3.8 Citromax Flavors Inc
Segments Covered in the Report
The global Citrus Extract market has been segmented based on

By Product
  • Orange
  • Lime
  • Lemon
  • Grapefruit
By Application
  • Fruit Beverages
  • Carbonated Soft Drinks
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • doTERRA International LLC
  • Symrise AG
  • Bontoux SAS
  • Mountain Rose Inc
  • Citrus and Allied Essences Ltd
  • Young Living Essential Oils LC
  • The Lebermuth Co Inc
  • Citromax Flavors Inc

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