The global orange extracts market size was valued at $580.4 million in 2020, and is projected to reach $1,022.0 million by 2030, registering a CAGR of 5.9% from 2021 to 2030.
Orange extracts is derived product from orange fruit. The orange extracts is rich source of vitamin C. It has multiple benefits such as helps in the production of hemoglobin and reduce blood sugar level in the human body. Owing to these factors, the orange extracts is widely used in pharmaceutical industry.
There are numerous flavor companies across the globe that partners with key food companies such as Unilever, Nestle, ConAgra, ADM, and Kraft foods. These food companies are highly dependent on the flavoring companies for introducing unique flavors for their food and beverage products. Orange is one of the most highly demanded flavor that is extensively used in chocolates, ice-creams, soft drinks, confectioneries, bakery, and dairy products. The growing demand for orange extracts from the flavoring is the primary factor responsible for driving the growth of the market. Moreover, the rapid growth of food & beverage industry is expected to propel the demand for the orange extracts in the coming years.
There are certain challenges faced by the farmers of oranges especially in developing nations. Farmers face difficulties due to lack of storage facilities near the production site, lack of packaging, and non-availability of processing plant. Moreover, due to the lack of proper irrigation system, the production of orange suffers. Furthermore, the producers of organic oranges face challenges in trade, certification, and marketing of their organic oranges. All these challenges result the farmers to incur extra costs and hence the orange extracts producers face the problem of raw material price fluctuations in the market. Hence, the fluctuating prices of raw materials may hamper the volumes of orange extracts and may also result in the rising prices of the orange extracts. This may hamper the market growth during the forecast period.
The COVID-19 pandemic had a both moderate impact on the market due to supply chain disruptions. But the removal of lockdowns is expected to expand the market in the coming years. The rise in adoption of orange extracts post-pandemic is creating new opportunities for the growth of market.
According to the orange extracts market analysis, the global orange extracts market is segmented based on form, nature, end user, distribution channel, and region. Based on the form, the market is fragmented into powder and liquid. In 2020, the liquid segment accounted for the largest share in the global market, owing the growing uses of liquid orange extracts in food & beverages industry
By Form
Liquid segment is expected to grow at highest CAGR of 6.5% during the forecast period
Based on the nature, the global orange extracts market is segregated into organic and conventional. In 2020, the conventional segment accounted for the largest share in the global market, as conventionally produced oranges ensure the good amount of yield to the farmers and it generates significant revenue for the farmers.
Based on the end user, the market is segregated into food & beverage, cosmetics, and pharmaceuticals. In 2020, the food & beverage segment accounted for the largest share in the global market, as orange extracts is used in preparing variety of food & beverage products such as desserts, soft drinks, confectionary food items, and ice cream.
By Nature
Organic segment is expected to grow at highest CAGR of 7.5% during the forecast period.
Based on the distribution channel, the market is categorized into supermarkets & hypermarkets, convenience stores, specialty stores, online sales channel. In 2020, the specialty stores segment accounted for the largest share in the global market, as specialty stores provide high service quality and detail product specification & expert guidance to the consumers.
The global orange extracts market is segmented based on region into North America, Europe, Asia-Pacific, and LAMEA. The North American orange extracts market had a dominant orange extracts market share in the world in 2020, and is expected to maintain its dominance during the orange extracts market forecast period.
By End User
Pharmaceuticals segment is expected to grow at highest CAGR of 7.6% during the forecast period.
Easy availability of orange extracts in diversified platforms ranging from modern trade to online sales channel have resulted in expansion of global market. Moreover, increasing penetration of retail sales have augmented the orange extracts market growth. In parallel, availability of orange extracts on e-commerce platforms have resulted in convenience to buy goods without any physical constraints to the consumers.
The prominent orange extracts industry players include Döhler GmbH, RC Fine Foods, Inc., McCormick & Company, Inc., Jacksonville Mercantile, OliveNation, ADM, Nielsen-Massey Vanillas, Inc., DONGYU USI, Xian Yuensun Biological Technology Co., Ltd, Shaanxi Guanjie Bio-technology Co., Ltd., and Amoretti.
By Distribution Channel
Online sales channel segment is expected to grow at highest CAGR of 10.5% during the forecast period.
Product launch is the most important growth strategy used by market players, followed by collaboration and agreement, expansion, and acquisition. Several businesses have created innovative products to diversify their product offerings. Various companies use product launches to expand their market reach and serve global customers.
By Regions
Asia-Pacific dominates the market and is expected to grow at highest CAGR of 8.4% during the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of current market trends, estimations, and dynamics of the market from 2021 to 2030 to identify the prevailing orange extracts market opportunities.
- Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry. The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
- The report includes analyses of the regional as well as global market, key players, market segments, application areas, and growth strategies.
Key Market Segments
By Form
- Powder
- Liquid
By Nature
- Organic
- Conventional
By End User
- Food & beverages
- Cosmetics
- Pharmaceuticals
By Distribution Channel
- Supermarket/Hypermarket
- Convenience Stores
- Specialty Stores
- Online Sales Channel
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Netherlands
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Orange Extracts Market Report Highlights
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Analyst Review
According to the insights of CXOs of leading companies, the rapid expansion of the food & beverage industry, combined with the wide range of uses for orange extract, is helping to drive up demand for orange extract globally. Orange extract has a variety of uses beside of the food business, including cosmetics. Orange extract’s nutritional characteristics aid in skin nourishment, making it ideal for cleaner skin, anti-wrinkle treatment, and acne treatment. Orange extract is in greater demand in the market owing to increased in consumer expenditure on personal care products.
Consumer’s growing health consciousness is influencing them to prefer natural-based products over synthetic based ones, which is expected to raise the demand for orange extract throughout the forecast period. Orange extract is highly desired in anti-inflammatory products due to its medicinal properties, which is another growth driver for the orange extract market. The ample amount of oranges in production is a major cause for the low cost and easy availability of orange extracts, which is projected to drive up demand for orange extract in the market throughout the forecast period.
One of the primary drivers for the increase in demand for orange extract is the increased demand for natural flavoring agents. Many new market players are expected to enter the orange extract market over the forecast period, attracted by profitable growth and high profit margins.
The global orange extracts market size was valued at $580.4 million in 2020, and is projected to reach $1,022.0 million by 2030, registering a CAGR of 5.9% from 2021 to 2030. The growing demand for orange extracts from the flavoring is the primary factor responsible for driving the growth of the market.
The forecast period estimated in the orange extracts market report is 2021 to 2030. The report provides a detailed study on the upcoming market trends, prevailing market opportunities, current market size, future market estimations, and various developmental strategies adopted by the key market players in the orange extracts market.
The base year calculated in the report is 2020. The COVID-19 pandemic in 2020 had a both moderate impact on the market due to supply chain disruptions. But the removal of lockdowns is expected to expand the market in the coming years. The rise in adoption of orange extracts post-pandemic is creating new opportunities for the growth of market.
The prominent orange extracts industry players include Döhler GmbH, RC Fine Foods, Inc., McCormick & Company, Inc., Jacksonville Mercantile, OliveNation, ADM, Nielsen-Massey Vanillas, Inc., DONGYU USI, Xian Yuensun Biological Technology Co., Ltd, Shaanxi Guanjie Bio-technology Co., Ltd., and Amoretti.
According to the orange extracts market analysis, the global orange extracts market is segmented based on form, nature, end user, distribution channel, and region. Based on the form, the market is fragmented into powder and liquid. In 2020, the liquid segment accounted for the largest share in the global market, owing the growing uses of liquid orange extracts in food & beverages industry.
According to the orange extracts market forecast, region wise, the orange extracts market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America contributed the highest revenue in 2020 and is expected to dominate the market during the forecast period owing to its higher preferences in the flavoring industry.
The prominent orange extracts industry players include Döhler GmbH, RC Fine Foods, Inc., McCormick & Company, Inc., Jacksonville Mercantile, OliveNation, ADM, Nielsen-Massey Vanillas, Inc., DONGYU USI, Xian Yuensun Biological Technology Co., Ltd, Shaanxi Guanjie Bio-technology Co., Ltd., and Amoretti. Several businesses have created innovative products to diversify their product offerings. Various companies use product launches to expand their market reach and serve global customers.
The global orange extracts market size was valued at $580.4 million in 2020, and is projected to reach $1,022.0 million by 2030, registering a CAGR of 5.9% from 2021 to 2030. The growing demand for orange extracts from the flavoring is the primary factor responsible for driving the growth of the market.
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