Orange Extracts Market Outlook
According to the report by Expert Market Research (EMR), the orange extracts market size reached a value of USD 631.52 million in 2023. Aided by the use of orange extracts in various sectors such as food and beverage, cosmetics, and pharmaceuticals due to their flavour, fragrance, and health benefits., the market is projected to grow at a CAGR of 5.50% between 2024 and 2032 to reach a value of USD 1,022.53 million by 2032.
Orange extracts are concentrated forms of orange flavour made from the zest or peel of the fruit, devoid of the pith and juice. They are commonly used in culinary applications to enhance flavour in sweets, baked goods, and beverages. Beyond the kitchen, these extracts find applications in the production of beauty products for their citrus scent and antioxidant properties, and in the pharmaceutical sector for their health-promoting attributes, particularly in vitamin supplementation.
The orange extracts market growth is primarily driven by the expanding food and beverage sector, where these extracts are used to flavour cakes, pastries, other desserts, and drinks. The rising popularity of natural and organic ingredients has further bolstered the demand for orange extracts as consumers seek products with recognisable and simple ingredients over artificial flavourings.
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Health trends significantly influence market dynamics, with an increasing number of consumers turning to products that offer health benefits such as improved immunity and antioxidants, which are abundant in orange extracts. The cosmetic sector utilises orange extracts as a natural ingredient in skincare and beauty products due to their favourable properties, consequently driving up the orange extracts market share.
The market is geographically segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America currently leads the global market due to the expanding food and beverage and cosmetics industries, coupled with high consumer spending capability. However, the Asia-Pacific region is expected to witness the fastest growth rate due to rising disposable incomes, increasing urbanisation, and the expanding presence of international food and beverage brands, leading to the orange extracts market development.
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Recent trends include the increasing use of orange extracts in functional foods and health drinks, responding to the growing consumer emphasis on health and wellness. Innovations in product formulation that incorporate orange extracts in dietary supplements and sports nutrition products are set to provide new growth avenues for the market.
As per the orange extracts market analysis, the craft beverage sector, particularly craft beers and artisanal spirits, is also exploring the use of orange extracts to add new flavours and product lines, further leading to the market expansion.
Orange Extracts Market Segmentation
The market can be divided based on the nature, form, end use, and region.
Market Breakup by Nature
- Organic
- Conventional
Market Breakup by Form
- Powder
- Liquid
Market Breakup by End Use
- Food and Beverages
- Cosmetics
- Pharmaceuticals
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global orange extracts market. Some of the major players explored in the report by Expert Market Research are as follows:
- Döhler GmbH
- Archer-Daniels-Midland Company
- Kerry Group
- Nielsen-Massey Vanillas, Inc.
- McCormick and Company, Inc
- OliveNation LLC
- Citrus Extracts LLC
- Amoretti
- Others
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