Citrus Concentrate Market Report 2024

This Citrus Concentrate market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The citrus concentrate market size has grown strongly in recent years. It will grow from $7.91 billion in 2023 to $8.36 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth during the historic period can be attributed to several factors, including increased consumer demand for natural flavors, growth in the beverage industry - especially in fruit juices - the expansion of the food service sector, and rising health consciousness among consumers.

The citrus concentrate market size is expected to see strong growth in the next few years. It will grow to $10.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The anticipated growth during the forecast period can be attributed to several factors, including a rising trend toward clean-label and organic products, the expansion of the nutraceutical and dietary supplement industries, the growing popularity of functional beverages, increased disposable incomes and changing consumer lifestyles, greater use of citrus concentrates in personal care products, and heightened demand for convenience foods and quick meal solutions. Key trends in this period include the development of health-oriented products, energy-efficient processing technologies, the integration of multi-channel distribution, innovations in cold extraction methods, and advancements in flavor extraction technologies.

The growing consumer demand for beverages is anticipated to drive the expansion of the citrus concentrate market in the future. Beverages encompass a wide array of liquid consumables meant for drinking, including both alcoholic and non-alcoholic options. The increasing demand for beverages can be attributed to shifts in consumer lifestyles and a rising preference for convenient, ready-to-drink choices. Citrus concentrate is a vital ingredient in many beverages, imparting natural flavor and aroma, which enhances the overall taste of drinks such as juices, sodas, and cocktails. For example, in May 2024, a report from the British Soft Drinks Association, a UK-based trade organization, indicated that total soft drink sales in 2023 reached 15.34 billion liters, reflecting a 2.9% increase from 14.91 billion liters in 2022. Hence, the surging consumer demand for beverages is propelling the growth of the citrus concentrate market.

Key players in the citrus concentrate market are focusing on creating innovative solutions, such as organic citrus fibers, to improve the nutritional profile of their products and offer additional health benefits. Organic citrus fiber is a natural dietary fiber derived from the pulp and peel of citrus fruits, utilized as a thickening agent and functional ingredient in various food products to enhance texture, aid digestion, and provide nutritional advantages. For instance, in January 2023, Fiberstar, Inc., a U.S.-based manufacturer of bio-ingredients, introduced the Citri-Fi 400 series, a new range of organic citrus fibers designed to meet the increasing demand for natural and sustainable food ingredients. This product line is sourced from the citrus juice process and consists of both insoluble and soluble fibers, featuring intact native pectin that improves water retention and emulsification. The Citri-Fi 400 series enhances the texture, stability, and nutritional value of a variety of food products, including baked goods, dairy items, processed meats, dressings, sauces, frozen foods, and plant-based alternatives.

In December 2023, Prinova Group LLC, a U.S.-based provider of functional ingredients, acquired Flavor Tec for an undisclosed amount. This acquisition aims to strategically strengthen Prinova's global presence in the citrus oil market by establishing operations in Brazil, enhancing sourcing capabilities, and integrating advanced processing technologies to provide high-quality, sustainable ingredients while maintaining core values and team integrity. Flavor Tec is a Brazil-based company specializing in citrus essential oils and e-liquid manufacturing.

Major companies operating in the citrus concentrate market are Cargill Incorporated, Archer Daniels Midland Company, Louis Dreyfus Company, Kerry Group PLC, Givaudan SA, Firmenich SA, Döhler, Citrosuco S.A., Takasaog International Corporation, Nutraceutical Corporation, Symrise AG, Nans Products, Sunkist Growers Inc., Roha Dyechem Pvt Ltd, Citromax Flavors Inc., Citrus Systems Inc., Citrus and Allied Essences Ltd., Hunan Sunfull Bio-tech Co. Ltd., Prodalim Group, LemonConcentrate, Huisong Pharmaceuticals, Bordas S.A.S (Destilaciones Bordas Chinchurreta S.A.), Chengdu Okay Pharmaceutical Co Ltd, Tropical Fruit Processors Inc.

North America was the largest region in the citrus concentrate market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the citrus concentrate marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the citrus concentrate marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Citrus concentrate is a processed form of citrus juice from which most of the water content has been removed, resulting in a thick and flavorful liquid that is rich in essential oils and nutrients. It is widely used in the food and beverage industry for making drinks, flavoring products, and creating sauces or dressings due to its intense flavor and longer shelf life compared to fresh juice.

The primary sources of citrus concentrate include orange, lemon and lime, grapefruit, tangerine, and others. Orange concentrate, specifically, is a processed version of orange juice that has had a significant portion of its water removed, resulting in a thick, syrupy liquid. It can be offered in both organic and conventional forms and is available in both dry and liquid states. Distribution occurs through both business-to-business and business-to-consumer channels, serving end users in the food and beverage industry, pharmaceuticals, nutraceuticals, personal care, and cosmetics, among others.

The citrus concentrate market research report is one of a series of new reports that provides citrus concentrate market statistics, including citrus concentrate industry global market size, regional shares, competitors with a citrus concentrate market share, detailed citrus concentrate market segments, market trends and opportunities, and any further data you may need to thrive in the citrus concentrate industry. This citrus concentrate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The citrus concentrate market consists of sales of beverages, food products, frozen products, snacks, and nutritional products. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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