Citrus Extract Market Analysis: Immunity-Boosting Trends and Growth Forecast 2030
In a world increasingly focused on healthy living and wellness, the global citrus extract market is experiencing a significant surge in demand. Citrus extract, a natural ingredient derived from fruits such as lemon, lime, orange, and grapes, is renowned for its rich vitamin content and versatile properties. The following factors are propelling the remarkable growth of this market:
- Versatile Applications Across Industries: Citrus extract has found its place in numerous industries. It serves as a flavoring agent in the food and beverages sector, is used in pharmaceutical preparations, and plays a crucial role in the production of toiletries, perfumes, skincare products, and home cleaning items. Its extensive applicability in various sectors is contributing to its global demand.
- Immunity-Boosting Properties Amidst COVID-19: The COVID-19 pandemic has created a new opportunity for the citrus extract market. With the virus increasing the demand for immune-boosting supplements, citrus extract, rich in vitamin C and known for its immune-strengthening capabilities, has seen double-digit growth. Medical recommendations for adequate vitamin C intake for COVID-19 patients have further fueled this demand.
- Pharmaceutical and Dietary Supplements Dominance: The pharmaceutical and dietary supplements segment is poised to occupy the largest share in the citrus extract market. The increased use of citrus extract as an immunity booster and the rising demand for vitamin C in COVID-19 treatment are key drivers. Additionally, over-the-counter availability of supplements is boosting this segment.
- Organic Preference: Consumers’ growing interest in organic products has led to the organic segment registering the highest compound annual growth rate (CAGR) within the citrus extract market. Citrus extract derived from pesticide and insecticide-free fruits is in higher demand as people shift towards clean labels.
- Challenges in Citrus Fruit Production: Global citrus-producing countries, including Brazil, China, and the U.S., have experienced fluctuations in citrus fruit production due to unfavorable weather conditions and crop diseases. This shortage may impact overall citrus extract market growth.
- Key Players Innovate with Clean Labels: Leading companies in the citrus extract market, such as Symrise AG, Kerry Group, and Givaudan, are continuously innovating by launching new products. For example, Kerry Group introduced natural and clean label citrus extracts designed for use in various beverages to meet the demand for immunity-boosting products.
As the world continues to prioritize health and wellness, the global citrus extract market is expected to remain on an upward trajectory. With its immunity-boosting properties and versatile applications, citrus extract is poised to play a pivotal role in various industries, catering to the evolving needs of consumers worldwide.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/citrus-market
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