Citrus Extracts Market Size, Share & Trends Analysis Report By Type (Orange, Lemon, Grapefruit), By Application (Carbonated Soft Drinks, Food), By Region, And Segment Forecasts, 2022 - 2030

PUBLISHED: November 9, 2022

PAGES: 80 Pages

DELIVERY TIME: 2-10 business days

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The global citrus extracts market size is expected to reach USD 10,437.1 million by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.1% from 2022 to 2030. The industry growth is majorly driven by increasing product use in a variety of applications including beverages, food, and personal care and cosmetics, and pharmaceuticals.

Citrus is one of the leading flavors in new launches most specifically in beverage items. In 2017 around 45-47% of flavored water drinks contained citrus extracts for flavoring. In addition to this, in the same year citrus was incorporated in 34% of carbonated soft drinks, 38% of energy and sports drinks, 29% of iced teas, 30% of flavored alcoholic beverages, and 26% of juices. In 2019 this usage of extracts in beverages has further increased by 19%.

In the food industry, it is used as it imparts flavor and aroma to cakes, chocolates, candies, pastries, and desserts. These extracts are rich sources of minerals, dietary fibers, and vitamins which are required for overall nutritional well-being. As people are becoming conscious about their health thus shifting towards consuming healthy processed food that is free from any synthetic flavoring agents or chemicals thus, increasing the use of extracts in the food industry.

The onset of the COVID-19 pandemic had a positive impact on the market as citrus were considered an important component in boosting the immunity of the body against various infections. Thus, citrus based food and beverages demand increased, which in turn boosted the extracts market demand.

As per a study published, during the pandemic, the prices of citrus fruits in the European Union rose by 15-20% whereas in Italy and Greece prices rose by 24% and 27% due to increased demand and disrupted supply chains. These increased prices have in turn resulted in an increase in the price of citrus extracts thus hampering the market.

Citrus Extracts Market Report Highlights:

The market is estimated to witness a CAGR of 4.1% from 2022 to 2030. This is attributed to raising demand in the beverage industries as it is a strong flavoring agent and rich in vitamin and fiber content

The market also saw growth in the personal care and cosmetics industry due to its antioxidant properties and Vitamin C content thus improving skin elasticity and boosting collagen production in the skin

Europe dominated the market and accounted for revenue share of 33.8% in 2021. This is owed to Europe being one of the largest markets for beverages such as energy drinks and fruit drinks with Germany, U.K., and France leading the market

Orange emerged as a major raw material used for citrus extracts in 2021 with a revenue share of 61.8%. This is attributed to the fact that oranges are a rich source of minerals and vitamins as compared to other fruits and the concentrated extract from oranges has a significant amount of alcohol content which helps in increasing its shelf life

Carbonated soft drinks are the largest application segment in terms of revenue as it contributed 36.10% to the global revenue share. The growth of this segment can be attributed to the changing lifestyle and increasing popularity for ready to drink carbonated soft drinks. Further, the fast food industry has also largely contributed to the growth of carbonated soft drinks, as these meals are moreover served with carbonated soft drinks

In order to increase the production and penetration of citrus extracts in personal care and cosmetics in May 2020, a company named "Citrus Extracts" which specializes in upcycling citrus waste from juice beverage processing outlets to produce citrus extracts, has partnered with the "Firmament Group", an equity investment firm, as they were seeing an opportunity in organic natural consumer and personal care goods segment

Product Code: GVR-4-68038-875-6

Chapter 1 Methodology and Scope

1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
- 1.3.1 Purchased Database
- 1.3.2 GVR's Internal Database
- 1.3.3 Secondary Sources
- 1.3.4 Third-Party Perspective
- 1.3.5 Primary Research
- 1.3.6 Primary Sources
1.4 Information Analysis
- 1.4.1 Data Analysis Models
1.5 Research Scope and Assumptions

Chapter 2 Executive Summary

2.1 Market Snapshot
2.2 Segmental Outlook

Chapter 3 Citrus Extracts Market: Market Variables, Trends & Scope

3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
- 3.3.1 Raw Material Trends
- 3.3.2 Manufacturing Trends
- 3.3.3 List of Potential End Users
3.4 Regulatory Framework
3.5 Market Dynamics
- 3.5.1 Market Driver Impact Analysis
- 3.5.2 Market Restraint Analysis
- 3.5.3 Industry Challenges
3.6 Business Environment Analysis
- 3.6.1 Industry Analysis - Porter's
- 3.6.2 PESTEL Analysis

Chapter 4 Citrus Extracts Market: Product Estimates & Trends Analysis

4.1 Product Movement Analysis & Market Share, 2019 & 2027 (Kilotons) (USD Million)
4.2 Citrus Extracts Market Size & Forecasts and Trend Analysis, By Product, 2016 - 2027 (Kilotons) (USD Million)
- 4.2.1 Orange
- 4.2.2 Lime
- 2.2.3 Lemon
- 4.2.4 Grapefruit
- 4.2.5 Others

Chapter 5 Citrus Extracts Market: Application Estimates & Trend Analysis

5.1 Application Movement Analysis & Market Share, 2019 & 2027 (Kilotons) (USD Million)
5.2 Citrus Extracts Market Size & Forecasts and Trend Analysis, By Application, 2016 - 2027 (Kilotons) (USD Million)
- 5.2.1 Carbonated Soft Drinks (CSDs)
- 5.2.2 Fruit Beverages
- 5.2.3 Bottled Water
- 5.2.4 Functional Beverages
- 5.2.5 Sports Drinks
- 5.2.6 Others

Chapter 6 Citrus Extracts Market: Regional Estimates & Trend Analysis

6.1 Citrus Extracts Regional Movement Analysis & Market Share, 2019 & 2027 (Kilotons) (USD Million)
6.2 Citrus Extracts Market Size & Forecasts and Trend Analysis, By Region, 2016 - 2027 (Kilotons) (USD Million)
- 6.2.1 North America
- 6.2.2 Europe
- 6.2.3 Asia Pacific
- 6.2.4 Central & South America
- 6.2.5 Middle East & Africa

Chapter 7 Competitive Landscape

7.1 Strategy Framework
7.2 Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
7.3 Vendor Landscape

Chapter 8 Company Profiles

8.1 Botanic Healthcare
- 8.1.1 Company Overview
- 8.1.2 Financial Performance
- 8.1.3 Product Benchmarking
- 8.1.4 Strategic Initiatives
8.2 Global Essence
- 8.2.1 Company Overview
- 8.2.2 Financial Performance
- 8.2.3 Product Benchmarking
8.3 Kerry
- 8.3.1 Company Overview
- 8.3.2 Financial Performance
- 8.3.3 Product Benchmarking
8.4 Plantae Extracts Private Limited
- 8.4.1 Company Overview
- 8.4.2 Financial Performance
- 8.4.3 Product Benchmarking
8.5 XENA BIOHERBALS PRIVATE LIMITED
- 8.5.1 Company Overview
- 8.5.2 Financial Performance
- 8.5.3 Product Benchmarking
8.6 Qingdao Vital Nutraceutical Ingredients BioScience Co., Ltd (VNI)
- 8.6.1 Company Overview
- 8.6.2 Product Benchmarking
- 8.6.3 Strategic Initiatives
8.7 Citrus Extracts LLC.
- 8.7.1 Company Overview
- 8.7.2 Product Benchmarking
- 8.7.3 Strategic Initiatives
8.8 Green Chem
- 8.8.1 Company Overview
- 8.8.2 Product Benchmarking
8.9 Henry Lamotte Oils GmbH
- 8.9.1 Company Overview
- 8.9.2 Financial Performance
- 8.9.3 Product Benchmarking
- 8.9.4 Strategic Initiatives
8.10 CRODAROM SA
- 8.10.1 Company Overview
- 8.10.2 Financial Performance
- 8.10.3 Product Benchmarking
- 8.10.4 Strategic Initiatives
8.11 HUNAN HUACHENG BIOTECH INC.
- 8.11.1 Company Overview
- 8.11.2 Financial Performance
- 8.11.3 Product Benchmarking
- 8.11.4 Strategic Initiatives

Product Code: GVR-4-68038-875-6

List of Tables

Table 1 Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 2 Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 3 Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 4 Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 5 Global Citrus Extracts market volume estimates & forecasts, by region, 2016 - 2027 (Kilotons)
Table 6 Global Citrus Extracts market revenue estimates & forecasts, by region, 2016 - 2027 (USD Million)
Table 7 North America Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 8 North America Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 9 North America Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 10 North America Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 11 U.S. Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 12 U.S. Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 13 U.S. Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 14 U.S. Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 15 Canada Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 16 Canada Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 17 Canada Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 18 Canada Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 19 Mexico Citrus Extracts volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 20 Mexico Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 21 Mexico Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 22 Mexico Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 23 Europe Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 24 Europe Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 25 Europe Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 26 Europe Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 27 U.K. Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 28 U.K. Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 29 U.K. Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 30 U.K. Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 31 Germany Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 32 Germany Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 33 Germany Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 34 Germany Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 35 France Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 36 France Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 37 France Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 38 France Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 39 Italy Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 40 Italy Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 41 Italy Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 42 Italy Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 43 Spain Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 44 Spain Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 45 Spain Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 46 Spain Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 47 Asia Pacific Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 48 Asia Pacific Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 49 Asia Pacific Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 50 Asia Pacific Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 51 China Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 52 China Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 53 China Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 54 China Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 55 India Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 56 India Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 57 India Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 58 India Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 59 Japan Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 60 Japan Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 61 Japan Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 62 Japan Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 63 Thailand Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 64 Thailand Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 65 Thailand Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 66 Central & South America Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 67 Central & South America Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 68 Central & South America Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 69 Central & South America Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 70 Brazil Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 71 Brazil Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 72 Brazil Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 73 Brazil Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 74 Mexico Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 75 Mexico Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 76 Mexico Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 77 Mexico Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 78 Middle East & Africa Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 79 Middle East & Africa Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 80 Middle East & Africa Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 81 Middle East & Africa Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 82 South Africa Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 83 South Africa Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 84 South Africa Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 85 South Africa Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 86 Egypt Citrus Extracts market volume estimates & forecasts, by product, 2016 - 2027 (Kilotons)
Table 87 Egypt Citrus Extracts market revenue estimates & forecasts, by product, 2016 - 2027 (USD Million)
Table 88 Egypt Citrus Extracts market volume estimates & forecasts, by application, 2016 - 2027 (Kilotons)
Table 89 Egypt Citrus Extracts market revenue estimates & forecasts, by application, 2016 - 2027 (USD Million)
Table 90 Vendor Landscape

List of Figures

Fig. 1 Citrus Extracts Market Segmentation & Scope
Fig. 2 Information Procurement
Fig. 3 Primary Research Pattern
Fig. 4 Primary Research Process
Fig. 5 Primary Research Approaches
Fig. 6 Citrus Extracts Market Snapshot
Fig. 7 Citrus Extracts market revenue (USD Million) 2022
Fig. 8 Citrus Extracts market, 2018 - 2030 (Kilotons) (USD Million)
Fig. 9 Citrus Extracts market: Value chain analysis
Fig. 10 Market dynamics
Fig. 11 PORTER'S Analysis
Fig. 12 PESTEL Analysis
Fig. 13 Citrus Extracts market volume share, by Product, 2022 & 2030 (Kilotons)
Fig. 14 Citrus Extracts market volume share, by Application, 2022 & 2030 (Kilotons)
Fig. 15 Citrus Extracts volume market, by Region, 2022 & 2030 (Kilotons)
Fig. 16 Strategy Framework