Global Citrus Extract Market Overview
Citrus Extract Market Size was estimated at 1.71 (USD Billion) in 2022. The Citrus Extract Market is expected to grow from 1.79 (USD Billion) in 2023 to 2.8 (USD Billion) by 2032. The Citrus Extract Market CAGR (growth rate) is expected to be around 5.08% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Citrus Extract Market Trends Highlighted
The citrus extract market is characterized by a dynamic environment, with significant trends influencing its projected expansion. Citrus extracts are being more widely used in many industries because of consumers' growing desire for natural and healthful components.
Given that citrus extracts have anti-inflammatory and antioxidant qualities, the rising incidence of chronic illnesses has also increased consumer demand for functional foods and drinks that contain these extracts.
Furthermore, new product development is becoming more innovative as a result of the increased public knowledge of the health advantages of citrus extracts.
Three major factors are propelling the market the growing demand for personal care products with citrus extracts; the rise in popularity of natural supplements; and the growth of the food and beverage industry.
The investigation of novel applications in the pharmaceutical and cosmetic sectors presents prospects for the citrus extract market's expansion. Manufacturers can benefit from the growing demand for ingredients that are sustainably sourced and organic.
Furthermore, improvements in extraction and processing methods are anticipated to raise the caliber and productivity of citrus extract manufacturing.
Citrus Extract Market Drivers
Rising Demand for Natural and Organic Ingredients in Food and Beverages
Consumers are increasingly seeking out natural and organic ingredients in their food and beverages as they become more aware of the potential health benefits.
This trend is expected to continue in the coming years, driving demand for citrus extracts, which are a natural source of vitamins, minerals, and antioxidants.
The Citrus Extract Market is expected to witness significant growth over the next ten years due to the rising demand for natural and organic ingredients in food and beverages.
The market is projected to grow at a CAGR of 5.08 % over the forecast period, reaching a total market size of USD 2.8 billion by 2032.
Growing Popularity of Citrus-Flavored Products
Citrus extracts are used to add flavor to a wide variety of products, including beverages, confectionery, and baked goods.
The growing popularity of citrus-flavored products is expected to drive demand for citrus extracts. For instance, the increasing popularity of lemon-flavored sparkling water has led to a surge in demand for lemon extract.
Expansion of the Nutraceuticals Market
Citrus extracts are also used in the nutraceuticals market, as they are a natural source of antioxidants and other health-promoting compounds.
The growing demand for nutraceuticals is expected to drive demand for citrus extracts.
Citrus Extract Market Segment Insights
Citrus Extract Market Extraction Method Insights
The Citrus Extract Market is segmented by extraction methods into cold pressing, solvent extraction, enzymatic extraction, and supercritical fluid extraction.
Among these, cold pressing held the largest market share in 2023 and is projected to continue its dominance throughout the forecast period.
This is primarily attributed to the increasing demand for natural and minimally processed food ingredients, as well as the rising popularity of cold-pressed juices and beverages.
Solvent extraction is another widely used method for citrus extract production, particularly for large-scale commercial applications.
It involves the use of organic solvents such as ethanol or hexane to dissolve and extract the desired compounds from the citrus peel or pulp. Solvent extraction offers high efficiency and selectivity, making it suitable for producing high-purity citrus extracts.
Enzymatic extraction is gaining traction as a promising alternative to traditional extraction methods. It utilizes enzymes to break down the cell walls of citrus fruits, releasing the desired compounds.
Enzymatic extraction is considered a greener and more sustainable approach, as it uses less energy and produces less waste compared to other methods.
Supercritical fluid extraction (SFE) is a relatively new and innovative technique that employs supercritical fluids, such as carbon dioxide, as solvents. SFE operates at high pressures and temperatures, allowing for the selective extraction of specific compounds while preserving their bioactivity.
SFE is particularly advantageous for extracting delicate and volatile compounds from citrus fruits. The choice of extraction method depends on various factors, including the desired extract characteristics, scale of production, and economic considerations.
Each method offers unique advantages and limitations, and the optimal selection is crucial for achieving the desired product quality and cost-effectiveness.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Citrus Extract Market Application Insights
The Citrus Extract Market based on the application covered in this study includes food and beverages, pharmaceuticals, cosmetics, personal care, and nutraceuticals.
The food and beverages segment is expected to account for the largest revenue share during the forecast period, attributable to the increasing demand for natural ingredients in food and beverage products.
Citrus extracts are used in a variety of applications as flavoring agents, preservatives, and nutritional supplements.
Changes in lifestyle pattern such as the increased desire to consume healthier foods and beverages are among significant factors that are likely to contribute to the rise of the market.
The pharmaceuticals segment is forecasted to grow significantly on account of the increasing use of citrus extracts in the production of herbal medicines and dietary supplements.
Citrus extracts contain antioxidants and anti-inflammatory properties, making them highly effective in the treatment of various health conditions.
The cosmetics and personal care segment are expected to witness a growing demand for citrus extracts as they are utilized in the production of skincare products and haircare products. Citrus extracts are rich in vitamins and antioxidants, which are primarily responsible for their skin and anti-aging properties.
The nutraceuticals segment is expected to grow at a steady pace owing to the growing popularity of functional foods and beverages.
Citrus Extract Market Citrus Type Insights
The Citrus Extract Market is segmented by Citrus Type into Orange, Lemon, Grapefruit, and Lime. Among these, the orange segment held the largest market share in 2023, accounting for around 45% of the Citrus Extract Market revenue.
The demand for orange extract is primarily driven by its widespread use in the food and beverage industry, particularly in the production of juices, soft drinks, and baked goods.
Lemon extract, with its distinctive sour taste and aroma, is the second-largest segment, capturing approximately 28% of the market. It is extensively used in culinary applications, including sauces, marinades, and desserts.
Grapefruit extract, known for its slightly bitter flavor, accounts for about 17% of the market and finds applications in both food and beverage products, as well as personal care items.
Lime extract, with its refreshing and tangy taste, holds the remaining 10% of the market share and is commonly used in beverages, desserts, and savory dishes.
The market growth for citrus extracts is driven by the rising consumer demand for natural and flavorful ingredients in food and beverages, coupled with the increasing popularity of citrus-based personal care products.
Citrus Extract Market Form Insights
The Citrus Extract Market segmentation by Form includes Liquid, Powder, and Essential Oil. In 2023, the Liquid segment held the largest market share, accounting for over 50% of the Citrus Extract Market revenue.
The Liquid form is highly preferred due to its ease of handling, absorption, and quick onset of action. The Powder segment is projected to experience the highest CAGR during the forecast period, owing to its versatility and stability. Essential Oils are gaining popularity due to their concentrated form and therapeutic benefits.
The market growth for Citrus Extract is attributed to rising consumer demand for natural and functional ingredients in food, beverages, and personal care products.
Citrus Extract Market Regional Insights
The regional segmentation of the Citrus Extract Market showcases distinct market dynamics across key regions. North America holds a significant market share due to the presence of established food and beverage industries and growing consumer demand for natural and healthy ingredients.
Europe follows closely, driven by stringent regulations favoring natural extracts and a growing health-conscious population.
APAC exhibits promising growth potential, fueled by rising disposable incomes and increasing awareness of the benefits of citrus extracts in skincare and pharmaceuticals.
South America and MEA also present opportunities for market expansion, with growing economies and a burgeoning middle class.
As of 2024, North America is estimated to account for over 35% of the Citrus Extract Market revenue, highlighting its dominant position.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Citrus Extract Market Key Players and Competitive Insights
Major players in the Citrus Extract Market are constantly vying for market share through strategic acquisitions, partnerships, and product launches. Leading Citrus Extract Market players are investing heavily in research and development to innovate and cater to evolving consumer preferences.
The Citrus Extract Market development landscape is characterized by ongoing collaborations between market participants to leverage each other's strengths and expand their product offerings.
Competitive dynamics are expected to further intensify as the market evolves, with key players adopting new technologies and strategies to gain a competitive edge.
A leading player in the Citrus Extract Market, Firmenich has a strong presence and a diverse product portfolio that caters to various industries. The company's commitment to sustainability and ethical sourcing has earned it a reputation for responsible operations.
Firmenich's research and development initiatives focus on developing innovative and natural citrus extracts that meet the evolving needs of its customers.
With its extensive distribution network and technical expertise, Firmenich is well-positioned to maintain its leadership position in the Citrus Extract Market.
Another prominent competitor in the Citrus Extract Market, Symrise, is known for its broad range of citrus extract products and its focus on delivering customized solutions. The company has a strong presence in emerging markets and actively invests in capacity expansion to meet growing demand.
Symrise's commitment to quality and safety has earned it numerous certifications and accreditations, making it a trusted supplier to major food and beverage companies.
Through its strategic partnerships and acquisitions, Symrise continues to expand its product portfolio and geographical reach, positioning itself as a formidable competitor in the Citrus Extract Market.
Key Companies in the Citrus Extract Market Include
- Martin Bauer Group
- Naturex S.A.
- Robertet SA
- Archer Daniels Midland Company
- Cargill Incorporated
- Kerry Group Plc
- BASF SE
- Symrise AG
- Takasago International Corporation
- Frutarom Industries Ltd.
- Lonza Group Ltd.
- Ingredion Incorporated
- Sensient Technologies Corporation
- DSM Nutritional Products
Citrus Extract Market Developments
The rising consumer awareness regarding the health benefits of citrus extracts is driving market growth. Citrus extracts are rich in antioxidants, vitamins, and minerals, making them popular ingredients in functional foods, beverages, and dietary supplements.
The growing demand for natural and organic ingredients in food and beverage products is also contributing to the market's expansion.
Recent developments in the citrus extract market include the launch of new products and strategic partnerships.
For instance, in 2023, Ingredion Incorporated launched a new line of citrus extracts standardized for hesperidin, a flavonoid with antioxidant and anti-inflammatory properties.
Furthermore, Symrise AG and Citrus Australia formed a partnership to develop and market a range of citrus extracts for use in the food and beverage industry.
Citrus Extract Market Segmentation Insights
- Citrus Extract Market Extraction Method Outlook
- Cold Pressing
- Solvent Extraction
- Enzymatic Extraction
- Supercritical Fluid Extraction
- Citrus Extract Market Application Outlook
- Food and Beverages
- Pharmaceuticals
- Cosmetics and Personal Care
- Nutraceuticals
- Citrus Extract Market Citrus Type Outlook
- Orange
- Lemon
- Grapefruit
- Lime
- Citrus Extract Market Form Outlook
- Liquid
- Powder
- Essential Oil
- Citrus Extract Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.71(USD Billion) |
| Market Size 2023 |
1.79(USD Billion) |
| Market Size 2032 |
2.8(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.08% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Martin Bauer Group, Naturex S.A., Robertet SA, Archer Daniels Midland Company, Cargill Incorporated, Kerry Group Plc, BASF SE, Symrise AG, Takasago International Corporation, Frutarom Industries Ltd., Lonza Group Ltd., Ingredion Incorporated, Sensient Technologies Corporation, DSM Nutritional Products |
| Segments Covered |
Extraction Method, Application, Citrus Type, Form, Regional |
| Key Market Opportunities |
Growing demand for natural ingredients Increasing applications in the food and beverage industry Rising consumer awareness about health benefits Expansion into emerging markets Technological advancements in extraction techniques |
| Key Market Dynamics |
Rising health awareness Increasing demand for natural ingredients Technological advancements Growing application in the food and beverage industry Expansion of the retail sector |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Citrus Extract Market is expected to reach an overall valuation of 1.79 billion USD in 2023.
The Citrus Extract Market is projected to grow at a CAGR of 5.08% from 2024 to 2032.
North America is expected to hold the largest share of the Citrus Extract Market in 2023, followed by Europe and Asia-Pacific.
Citrus extract has applications in various industries, including food and beverage, pharmaceuticals, cosmetics, and personal care.
Some of the key competitors in the Citrus Extract Market include Archer Daniels Midland Company, Cargill, Incorporated, and Ingredion Incorporated.
The growth of the Citrus Extract Market is primarily driven by increasing demand for natural and organic ingredients, rising consumer awareness about the health benefits of citrus extracts, and expanding applications in various industries.
The Citrus Extract Market faces challenges such as fluctuating raw material prices, intense competition, and regulatory hurdles in certain regions.
Emerging trends in the Citrus Extract Market include the growing popularity of clean-label products, increasing demand for functional ingredients, and advancements in extraction technologies.
The COVID-19 pandemic had a moderate impact on the Citrus Extract Market. While there was a temporary decline in demand during the initial stages of the pandemic, the market has since rebounded and is expected to continue growing in the coming years.
Opportunities for growth in the Citrus Extract Market include expanding applications in emerging markets, developing innovative products, and strategic partnerships.
