Citrus Concentrate Market Expected to Reach $12.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Citrus Concentrate Market," The Citrus Concentrate Market Size was at $7.8 billion in 2021, and is estimated to reach $12.9 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.

The citrus concentrate market is meant to provide a safe flavor choice in the production of juices, soft drinks, ice creams, syrups, bakery products, candy products, and others. Citrus concentrate is processed, which means its water content is evaporated after extracting the real fruit juice like from orange and lemon and then dried up to make a powder. This powder form of juice is known as concentrate. Citrus concentrate also refers to the natural source of vitamins and minerals that are consumed by people to obtain vitamin A, B1, C, and A, potassium, and sulphur, which helps in strengthening the immune system and prevents mucosal infections. The citrus concentrates are a mixture of orange concentrate, grapefruit concentrate or lemon concentrate, that is being consumed directly or along with water based on requirement.

Many key players in the global market are coming up with various new formulations and products in the citrus concentrate market to cater the increasing demand for products among consumers.The major factor that drives the growth of the Citrus Concentrate Market Trends is owing to increasing demand from beverage manufacturers.. This is attributable to increase in the consumption of refreshing juice, which can be made by mixing citrus concentrate with water. Also, citrus ingredients are most popular and recognized natural flavors among consumers and manufacturers. Moreover, citrus concentrate offers several health benefits and are widely used in the pharmaceutical industry. The citrus concentrate is a safe flavor choice in the production of juice, ice creams, syrups, and others due to the global consumers’ acceptance, which ultimately leads manufacturers to prepare the custom-made concentrates for the global food and beverage industry.

Despite the growing influence of the pandemic, the citrus concentrate market witnessed remarkable growth in recent period. The COVID-19 outbreak has led to rise in Citrus Concentrate Market Demand for healthy drinks and various beverages, which contain citrus concentrate. The citrus concentrate is an excellent source of vitamin C, which helps in building immunity and hence leads to the increasing demand among consumers. . It also provides a sufficient number of fibers and also contains a lower number of calories, which reduces the risk of kidney stones and fight against other diseases as well. Furthermore, the increasing adoption among end user’s industries due to its ability to improve the profile of the product and enhance the nutritional content is making a positive impact on citrus concentrates at the global level. The citrus concentrate is packed in can thus making it easy to carry, long shelf-life, and is easy to store, which is further attracting new consumer base and is a key driver for the Citrus Concentrate Market Share.

The citrus concentrate market is expected to witness significant growth, owing to rapid urbanization and less time for preparing food thus consumer are shifting toward ready to drink and eat products. . This factor has increased the demand for packed and convenience food products, which indirectly drives the Citrus Concentrate Market Growth. Increasing spending power of consumers along with the shift in the individual preference to healthy diet pattern is encouraging them to adopt healthy beverage options, which includes fruit juice, which is expected to make positive impact on the market in the upcoming future. Growing consumer demand for effective flavors, and taste has led to huge investments by key players to develop citrus food and beverage products and cater to the increase in consumer demand. Also, consumer inclination toward natural and organic flavors has led to a surge in R&D efforts in the citrus concentrate industry. At present, many leading market players are focusing on R&D to develop new types of concentrates for new flavors.

Some of the key players in the citrus concentrate industry include Dohler, Bell Flavors & Fragrances, Prodalium Group, CitroGlobe Srl, LemonConcentrate S.L, Iprona SpA, El-Marwa Food Industries Co., Louis Dreyfus Company, Citrus Processing India Pvt. Ltd., Citrus Systems Inc., Asia Farm F&B Pte Ltd, SunOpta, Vinayak Ingredients India Pvt. Ltd, and Kiril Mischeff.

Key Findings of Study

• By source, the oranges segment dominated the global market in 2021, and is projected to grow at a CAGR of 6.0% during the forecast period\.
• On the basis of nature, the conventional segment accounted for a major share in the citrus concentrate market in 2021, and is expected to grow at a significant CAGR of 4.8% during the forecast period.
• Depending on end use, the food and beverage industry segment accounted for a major share of the market in 2021, and is expected to grow at a significant CAGR of 4.8% during the forecast period
• Europe accounted for the highest market share in 2021 and is expected to grow at a significant CAGR of 5.4% during the forecast period.