The citrus extracts market size has grown strongly in recent years, increasing from $7.74 billion in 2023 to $8.32 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth during the historic period can be attributed to high nutritional value, rising demand for natural flavorings, growing interest in herbal remedies, increased awareness of citrus health benefits, and the growing popularity of citrus-based essential oils. The citrus extracts market size is anticipated to experience strong growth in the coming years, projected to reach $11.17 billion in 2028 at a CAGR of 7.6%. This growth in the forecast period will be driven by rising consumer demand for natural and organic products, increasing health consciousness, higher disposable incomes, the integration of citrus extracts into functional beverages, and the rising trend of plant-based diets. Major trends expected during this period include technological advancements in citrus extraction processes, the development of new citrus-based products and formulations, integration of citrus extracts into innovative health and wellness solutions, and the creation of new extraction technologies to enhance yield and quality.
Global Citrus Extracts Market Key Driver
The increasing consumer focus on health and wellness is expected to propel the growth of the citrus extracts market going forward. This focus is driven by rising awareness of the benefits of a healthy lifestyle and chronic disease prevention. Citrus extracts are rich in vitamins, antioxidants, and bioactive compounds that boost immunity, support digestion, and promote overall health. According to a survey released by the International Food Information Council (IFIC) in May 2022, 52% of 1,005 surveyed Americans reported following a diet or eating pattern in 2022, up from 39% in 2021. This rise was especially noted among individuals under 50, with popular diets including clean eating (16%) and mindful eating (14%). Therefore, this increasing consumer focus on health and wellness is driving the growth of the citrus extracts market.
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Global Citrus Extracts Market Segments
The citrus extracts market covered in this report is segmented –
1) By Type: Orange, Lemon, Lime, Grapefruit, Other Types
2) By Extraction Method: Cold Pressing, Solvent Extraction, Enzymatic Extraction, Supercritical Fluid Extraction
3) By Form: Liquid, Powder, Essential Oil
4) By Application: Food And Beverages, Pharmaceuticals, Cosmetics And Personal Care, Nutraceuticals
By Geography:The regions covered in the citrus extracts market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the citrus extracts market in 2023.
Major Citrus Extracts Industry Players
Kerry Group Plc, McCormick & Company Inc., Symrise AG, Takasago International Corporation, Naturex SA, Young Living Essential Oils LLC, Citromax Flavors Inc., Mountain Rose Herbs, Peace River Citrus Products, Lebermuth Co Inc., Citrus and Allied Essences Ltd., LIONEL HITCHEN, Bontoux SAS, Botanic Healthcare, Ultra International BV, Global Essence Inc., Frutarom Industries Ltd., Crescent Fragrances Pvt. Ltd., Cifal Herbal Private Ltd., Ace Technologies
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Citrus Extracts Market Overview
Citrus extracts are concentrated substances derived from the peels, pulp, or juice of citrus fruits such as oranges, lemons, and grapefruits. They are rich in bioactive compounds such as flavonoids, vitamin C, and essential oils. These extracts are used in various industries, including food, beverages, cosmetics, and pharmaceuticals, for their flavoring, antioxidant, and health-promoting properties.
Citrus Extracts Global Market Report 2023 provides data on the global citrus extracts market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The citrus extracts market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
