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Citrus Concentrate Market Segmented By Lemon Juice Concentrate, Fruit Concentrate, Citrus Juice Production and Fresh, Citrus Water Phase, Fruit Concentrate Puree
Manufacturers of alcoholic beverages such as vodka, spritzer, and beer are using citrus concentrate 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 toward the use of citrus concentrate for manufacturing premium alcoholic beverages.
The summer season is the most favorable for manufacturers of citrus concentrate, as the demand for citrus-flavored drinks is at its peak in this season. This is attributable to the high consumption of refreshing citrus juice, which can be made by mixing citrus concentrate with water.
Players in the citrus concentrate market are effectively marketing their products to appeal to alcoholic beverage manufacturers and citrus fruit juice manufacturers.
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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 natural flavors and ingredients among consumers and manufacturers. To gain the most profits from this scenario, manufacturers in the citrus concentrate market strive to offer clean label and natural citrus concentrate products & ingredients for a wide range of applications in the food and beverage industry.
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Get a Customized VersionCitrus fruits offer several health benefits, and thus, are widely used in the pharmaceuticals industry. Moreover, these fruits are consumed directly and are extensively used by juice manufacturers, worldwide. Citrus concentrate is a safe flavor choice in the production of juices, soft drinks, ice cream, syrups, and candy products, due to global consumer acceptance.
This has led manufacturers to prepare tailor-made concentrates for various applications in the global food & beverage industry. Moreover, these concentrates can be easily mixed with any other flavors 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 the production and processing of citrus fruits.
This enables manufacturers in the citrus concentrate market to cater to the rising demand for citrus fruits and ingredients from retail, food & beverage, and pharmaceutical industries. These factors are further fueling the growth of the global citrus concentrate market.
A large number of consumers of citrus concentrate are located in Europe. They show higher preference for natural ingredients that are familiar to them and have unique flavor profiles. Increasing number of food outlets and the growing tourism sector are propelling the growth of the global citrus concentrate market.
South Asia and East Asia markets are projected to register robust growth, attributable to the increasing demand for citrus concentrate from the beverage sector. China is one of the leading producers and consumers in the citrus concentrate market.
Moreover, high popularity and familiarity of citrus fruits contribute to the high demand for citrus concentrates in these regions. Increasing application of citrus concentrate in the food & beverage industry is anticipated to bolster growth of the East Asia citrus concentrate market.
South Asia is one of the fastest-growing regions based on both, population and economy, and rising disposable income of consumers is expected to increase spending on food & beverage products.
The global citrus concentrate market has witnessed significant growth in the past few years, and this is expected to continue over the forecast period of 2019-2029 as well. South Asia is projected to register the highest growth rate, supported by increasing popularity of citrus concentrate among manufacturers of food & beverage products in this region.
Players in the global citrus concentrate market are aggressively investing in expansion of their production capacities in order to cater to the increasing demand for citrus concentrate from food & beverage, pharmaceutical, nutraceutical, and personal care and cosmetics industries across the globe.
Moreover, key manufacturers are placing emphasis on acquisitions and mergers with small- and mid-sized manufacturers to increase their global presence as well as revenue.
PMR’s study on the global citrus concentrate market offers comprehensive information categorized into four key segments - source, nature, end use, and region.
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The global citrus concentrate market is bound to reach US$ 12.5 Bn by the year 2031.
The global citrus concentrate market is slated to witness a CAGR of 5.7% between 2021 and 2031.
The citrus concentrate market witnessed a CAGR of 4.5% between 2015 and 2020.
The ongoing trend pertains to the increasing demand, and, in turn, the adoption of foods and products that are grown organically with health-conscious people pestering for them.
Convenience and packed foods are driving the demand for citrus concentrate all across.
The market share of top 5 players like Dohler, Bell Flavors & Fragrances, Prodalium Group, CitroGlobe Srl, and LemonConcentrate S.L. is close to 70%.
The top 5 countries driving demand include the US, UK, India, China, and Australia.
North America holds the largest market share due to the US being home to the major players.
Europe is expected to register growth at the rate of 5.5% between 2021 and 2031.
Japan and Korea will go steady regarding citrus concentrate market.
