The global citrus extract market is anticipated to grow at a considerable CAGR of 5.0% during the forecast period. New product launches with innovative flavors coupled with consumers’ inclination towards health and wellness are some major factors driving the growth of citrus extract. Citrus-based flavors are increasingly becoming top consumer taste preferences and are driving market-leading innovation, especially among beverage industry producers.
The growing innovation of ingredients and flavors among a wide variety of beverages such as soft drinks, sparkling water, fruit beverages, functional beverages, and sports beverages are adding to the market growth of citrus extract. Consumers especially millennials are adopting new eating habits and are looking for beverages with innovative flavors such as Lime, Kumquat, Orange, Yuzu, and Zesty lime. Apart from a wide variety of flavors fruit flavors like lemon and orange are the most proffered flavors among consumers. Producers of food and beverages are actively looking for unique flavors and extract to cater to this demand.
For instance, in 2021, Smartwater announced the launch of smartwater+, a new line of premium wellness water. The lineup of infused hydration options features unique ingredients and real flavor extracts. The lineup includes smartwater+ clarity, smartwater+ tranquility and smartwater+ renew. The smartwater+ renew variant comes with dandelion and lemon extracts, for those looking to “plus up” moments of revitalization. The smartwater+ clarity variant comes with ginseng and green tea extracts and the smartwater+ tranquility variant has ashwagandha and tangerine extracts.
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Market Coverage
- The market number available for – 2023-2030
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Product
- By Form
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– including BONTOUX SAS, Citromax Flavours, Inc., Citrus and Allied Essences Ltd., Citrus Systems Inc., Kerry Group plc, and others.
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Citrus Extract Market Report Segment
By Product
- Orange
- Lime
- Lemon
- Grapefruit
- Others
By Form
- Powder
- Liquid
By Application
- Food & beverages
- Pharmaceuticals
- Dietary supplements
- Personal Care
- Others
Citrus Extract Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Active Concepts, LLC
- Cifal herbal Private Ltd.
- IMG Citrus
- Interstate Commodities Corp.
- Lionel Hitchen Ltd.
- McCormick & Company, Inc.
- Nielsen Citrus Products Company, Inc.
- Nielsen-Massey Vanillas, Inc.
- OliveNation, LLC
- Orgenetics, Inc.
- Sauer Brands, Inc. (Spice Hunter)
- Southern Flavoring Company, Inc.
- SpecialChem S.A.
- Symrise Group
- The Lebermuth Co., Inc.
- Ultra International B.V.
- Vincent Corporation
- Young Living Essential Oils Australasia PTY LTD
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