The global citrus extract market size is expected to reach USD 10.60 billion by 2030, according to a new study by Polaris Market Research. The report “Citrus Extract Market Share, Size, Trends, Industry Analysis Report, By Type (Orange, Lemon, Grapefruit); By Application; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing demand for organic and natural extracts from the food and beverage industries is driving the market. These extracts are widely used to enhance the flavor of fruit, sports, functional, and carbonated soft drinks and produce different convenience foods. The increasing disposable incomes of the masses and their shifting dietary preferences drive industry growth. The growing awareness of the numerous health benefits of these extracts, such as immune enhancement and weight management, has resulted in their widespread use in the pharmaceutical industry for drug formulation.
Increasing these extracts in numerous hair and skin care product formulations, such as creams, lotions, facial cleansers, face packs, scrubs, shampoos, conditioners, and hair packs, further drives the industry. Other factors, such as the widespread use of these extracts for flavoring alcoholic beverages and their increasing use as a cleaning agent for domestic applications, contribute to the market's positive outlook.
The citrus extract is a strong-flavored extract derived from citrus fruits used to prepare various foods, including baked goods, dairy products, confectionery, tea, and sausages. Due to its flavor and aroma, it is used in multiple cakes, pastries, candies, and chocolates as a flavoring agent. Apart from that, these extracts are widely used in producing perfumes, pharmaceuticals, haircare, and personal care products.
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Citrus peel extract is widely used in pharmaceuticals as a flavoring agent in oral syrups and various other drugs due to its antibacterial properties, which aid in the elimination of persistent bacteria. It is also influenced by macroeconomic factors such as rising disposable incomes, an increase in annual consumer earnings, and expenditures on spas and salons where citrus extract-based goods are used in massage oils for relaxation and aroma.
Citrus Extract Market Report Highlights
Polaris Market Research has segmented the citrus extract market report based on type, application, and region:
Citrus Extract, Type Outlook (Revenue - USD Billion, 2022 - 2030)
Citrus Extract, Application Outlook (Revenue - USD Billion, 2022 - 2030)
Citrus Extract, Regional Outlook (Revenue - USD Billion, 2022 - 2030)