Citrus Concentrate Market by Source (Lemon & Lime, Orange, Grapefruit and Tangerine)
Industry: Food and Beverages
Published Date: March-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 307
Report ID: PMRREP26845
The Market for Citrus Concentrates can be expected to expand at a value based CAGR of 5.2% and show an increase in revenue from US$ 8,911.80 Million to around US$ 14,795.26 Million by 2033.
|
Citrus Concentrates Market Size (2023E) |
US$ 8,911.80 Million |
|
Projected Sales of Citrus Concentrates (2033F) |
US$ 14,795.26 Million |
|
Value CAGR (2023 to 2033) |
5.2% |
|
Value Share of Top 4 Countries (2022E) |
62% |
The global citrus concentrates market has witnessed significant growth in the historical period registering a CAGR of 5.28% in the historical period and was valued at US$ 8,911.80 Million in 2023. The market is expected to grow steadily with increasing awareness and benefits about applications of citrus concentrates.
Citrus are one of the most popular and familiar fruits for the consumers across the globe. The taste and flavor characteristics of citrus fruit and ingredients are fuelling the demand for citrus concentrates by the global food and beverage industry.
Citrus concentrates are a safe asset in the production of juice, soft drinks, ice-cream, syrups, and candy due to their global consumer acceptance. These factor has lead manufacturers to prepare tailor made concentrates for the different sectors in the global food and beverage industry.
As the health and nutrition factor would continue to dominate consumer food preferences, rising citrus concentrates consumption is expected to drive the market over the coming years. The global market for citrus concentrates is estimated to reach an approximate valuation of US$ 14,795.26 Million in the forecast period.
“Effective Product Positioning for Manufacturers of Beverages to Improve Citrus Concentrates Sales”
Manufacturers of alcoholic beverages such as vodkas, spritzers, and beers are using citrus concentrates in their products, due to the high popularity and demand for unique flavors from consumers. This leads to an increased inclination of alcoholic beverage manufacturers towards the use of citrus concentrates for manufacturing premium alcoholic beverages. The summer season is the most favorable one for manufacturers of citrus concentrates, as the demand for citrus-flavored drinks is at the peak in this season. This is attributable to the high consumption of refreshing citrus juice, which can be made by mixing citrus concentrates in the water. Players in the citrus concentrates market are effectively marketing their products to appeal to alcoholic beverage manufacturers and citrus fruit juice manufacturers.
“Manufacturers to Focus on Clean Ingredient Offerings for Food and Beverage Applications”
Clean label is a consumer-driven movement that demands a return to real food and transparency through authenticity. Food products containing natural, familiar, and simple ingredients that are easy to recognize, understand, and pronounce are preferred by consumers. Citrus ingredients are the most popular and recognized flavors and ingredients among consumers and manufacturers. To gain the most profits from this scenario, manufacturers in the citrus concentrates market strive to offer clean label and natural citrus concentrates products and ingredients for a wide range of applications in the food and beverage industry.
“Increasing Applications of Citrus Concentrates to Support Market Growth”
Citrus fruits offer several health benefits and thus, are widely used in the pharmaceuticals industry. Moreover, these fruits are consumed directly and are extensively use by juice manufacturers worldwide. Citrus concentrates are a safe flavor choice in the production of juice, soft drinks, ice-cream, syrups, and candy products due to their global consumer acceptance. This has lead manufacturers to prepare tailor-made concentrates for various applications in the global food and beverage industry. Moreover, these concentrates can be mixed with any other flavors easily to impart a new taste and texture to the final products. Leading citrus fruit producing countries such as Brazil, Argentina, Mexico, and the U.S. (in Florida) are witnessing an increase in production and processing of citrus fruits. This enables manufacturers in the citrus concentrates market to cater to the rising demand for citrus fruits and ingredients from the retail, food and beverage, pharmaceuticals industries. These factors are further fueling the growth of the global citrus concentrates market.
“Climatic Conditions and Diseases to Hamper Market Growth”
Diseases and infections on citrus plants such as sapling wilt, powdery mildew, green mould rot, blue mould rot, and citrus greening disease/yellow dragon/Huanglongbing (HLB), affect the plantation and production of citrus fruits. Prices of citrus concentrates fluctuate as a result of the erratic supply of raw materials. Natural calamities such as heavy rainfall, frost, and soil loss are other main factors that have an adverse effect on the production of citrus fruit. In recent years, these events are happening more often in the leading citrus fruit producing countries. Manufacturers are finding it difficult to ensure a continuous supply of high quality citrus fruits. These factors have adverse impact on the prices of citrus concentrates, as it hindering sales.
What is the Outlook for the Global Citrus Concentrates Market?
A large number of consumers of citrus concentrates are located in Europe. They show a higher demand for natural ingredients that are familiar to them and have unique flavor profiles. The increasing number of food outlets and the growing tourism sector propels growth of the global citrus concentrates market.
South Asia and East Asia are projected to register a robust growth rate, attributable to the increasing demand for citrus concentrates from the beverage sector. China is one of the leading producers and consumers in the citrus concentrates market. Moreover, high popularity and familiarity of citrus fruits contribute to the demand for citrus concentrates in these regions. Increasing applications for citrus concentrates in the food and beverage industry are anticipated to bolster growth of the East Asia citrus concentrates market. South Asia is one of the fastest-growing regions based on both population and economy, and rising disposable incomes of consumers are expected to increase spending on food and beverage products.
What is the Segmental Breakdown of the Citrus Concentrates Market?
By source, the global citrus concentrates market is segmented into orange, lemon & lime, grapefruit, tangerine, and others (mandarins, clementine's, satsumas, yuzu). By nature, the global citrus concentrates market is segmented into organic and conventional.
By end use, the global citrus concentrates market is segmented into food and beverage industry, pharmaceuticals, nutraceuticals, personal care & cosmetics, and others (snacks, candies, soups etc.). The food and beverage industry segment is further segmented into confectionery & bakery, dairy & dessert, alcoholic beverages, and non-alcoholic beverages.
By form, the global citrus concentrates market is segmented into dry and liquid. The liquid form of concentrates are the most used concentrates by the global food and beverage industry.
How is the Source, Nature, and Form Segment of the Citrus Concentrates Market Expected to Grow in the Forecast Duration?
The tangerines segment is anticipated to register the highest growth rate in citrus concentrates market over the forecast period.
The organic segment is projected to register a substantial growth rate over the forecast period, on account of the rising demand for chemical-free and clean label ingredients by manufacturers in food and beverage and pharmaceutical industry.
The liquid segment of the global citrus concentrates market is projected to hold a significant share during the forecast period of 2023 to 2033.
Manufacturers in the citrus concentrates market have strategically located their production facilities near citrus-producing regions to source fresher raw material and provide superior quality products with a longer shelf-life. This strategy also enables manufacturers to reduce the time, production cost, and transportation expenditure.
Manufacturers also focus on the expansion of their production facilities as well as the production of application-specific concentrates for industries such as alcoholic beverages, non-alcoholic beverages, sweets and confectionery, bakery, and dairy.
|
Attribute |
Details |
|
Forecast period |
2023 to 2033 |
|
Historical data available for |
2018 to 2022 |
|
Market analysis |
USD million for value |
|
Key regions covered |
|
|
Key countries covered |
|
|
Key market segments covered |
|
|
Key companies profiled |
|
|
Report coverage |
|
|
Customization & pricing |
Available upon request |
By Source:
By Form:
By Nature:
By End Use:
By Region:
To know more about delivery timeline for this report Contact Sales
The global market for citrus concentrates has a value of US$ 8,911.80 Mn in 2023.
The global market for citrus concentrates has a value CAGR of 5.28% from 2018-2022.
The global market for citrus concentrates has a value of US$ 14,795.26 Mn in 2033.
The global market for citrus concentrates has a value CAGR of 5.2% from 2023-2033.
The top players hold more than 15-20% of the market share. They include Companies such as Dohler, Prodalim Group, Louis Dreyfus Company, Citrosuco, Citromax, Levy Group International are some of the major players operating in the global citrus concentrates market.
