Citrus Extract Market| Manufacturers, Regions, Type and Application, Forecast by 2030
The global demand for natural and plant-based ingredients has driven the remarkable expansion of the citrus extract market. Derived from citrus fruits such as lemon, lime, orange, and grapes, citrus extract offers numerous health benefits and finds wide applications in the food and beverages, pharmaceutical, and consumer products industries.
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A Natural Immunity Booster: Citrus Extract Gains Popularity
Rich in essential vitamins and phytochemicals, citrus extract is known for its immune-boosting properties, making it highly sought after in the market. With increasing awareness about the importance of a healthy lifestyle, the demand for citrus extract has surged across various industries.
COVID-19 Pandemic Amplifies Citrus Extract Demand
The outbreak of COVID-19 has further accelerated the demand for citrus extract, particularly vitamin C. Studies have shown that vitamin C can strengthen the immune system, reducing the risk of severe viral infections. As medical experts recommend the intake of vitamin C for COVID-19 patients, consumers have shifted towards immune-boosting supplements, fueling the growth of the citrus extract market.
Pharmaceutical and Dietary Supplements Lead the Market
The pharmaceutical and dietary supplements segment holds the most significant value share in the citrus extract market. Using citrus extract as an immunity booster and its application in COVID-19 treatments have contributed to the segments dominance. The food and beverages industry is also expected to grow significantly, driven by the rising preference for vitamin C-fortified products.
Supply Chain Disruptions Pose Challenges
Despite the markets positive trajectory, challenges like citrus fruit production shortages and supply chain disruptions have impacted the citrus extract market. Fluctuations in citrus fruit production in major producing countries like Brazil, China, and the U.S. have affected the overall market. Furthermore, labor shortages and supply chain disruptions due to the COVID-19 pandemic have affected market growth.
North America and Europe: Key Players in the Citrus Extract Market
North America and Europe are prominent in the citrus extract market, with increasing demand for immune health supplements. Vitamin C deficiency is prevalent in nearly 23 million Americans, further driving the need for citrus extract products in these regions.
Innovations by Leading Players
Key global citrus extract market players, including Symrise AG, Kerry Group, and Givaudan, continue to innovate and develop new product offerings. Clean-label citrus extracts have gained attention, with companies like Kerry Group launching a new line of natural and clean label citrus extracts to cater to the need for immunity-boosting beverages.
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