Citrus Flavors Market: About the Report
With ever-increasing demand for food & beverage products across the world, citrus flavors are gaining immense importance, as they are widely used in this industry. PMR’s report not only explains why Europe and North America are leaders in this space, but also how more lucrative opportunities will arise from the Asia Pacific region over the coming years. Leveraging characteristics such as refreshing taste and rich in vitamins and nutrition, players in the citrus flavors market space are focusing on R& D to offer innovative products to food & beverage manufacturers.
Find Out More about the Report Coverage
- Givaudan S.A
- International Flavors & Fragrances, Inc.
- Symrise AG
- Sensient Technologies Corporation
- Takasago International Corporation
- Firmenich SA
- Kerry Group
- Archer Daniels Midland Company
- Mane Group
- R.C. Treatt & Co. Ltd
- Trilogy Ingredients, Inc.
- Lionel Hitchen Limited
- Citromax Flavors
- Flavor Producers, LLC
Citrus Flavors Market Overview
Citrus flavors are widely used as flavor ingredients by a majority of the key players operating in the food & beverage industry, owing to the sour, sweet, and unique taste characteristics offered by these ingredients. Citrus flavors are gaining popularity in different segments, attributed to their enriched benefits for imparting a natural flavor and taste to the end product. They are most commonly used in a diverse range of beverages, snacks, and confections, thereby aiding the expansion of the global citrus flavors market size.
Apart from this, refreshing taste as well as richness in vitamins and nutritional values are some key characteristics behind the increasing popularity of citrus fruits and citrus flavors. Citrus flavors have also been finding their place in snacks foods such as chips, cookies, candies, baked goods, and many more. As such, the citrus flavors market is set to witness significant 1.6X volume growth over the forecast period of 2020 to 2030.
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Citrus Flavors Market Trends
Clean Label Ingredients Gaining Traction among Wide Range of End Users: The clean label trend has had a great impact on consumer choices, and they are shifting toward spending on food products that are right for them. This trend refers to consumption of high nutritional and healthy food. Rising demand for citrus flavors and related products can be attributed to economic cost and rising awareness regarding clean label ingredients among consumers. Majority of manufacturers in the citrus flavors market are focusing on the production of citrus flavors that are free from synthetic chemicals or artificial ingredients. Increased consumer preference for fewer and more recognizable ingredients is expected to drive the growth of the citrus flavors market over the coming years.
Citrus Flavor Suits Taste Preference of Consumers: Consumption of fruits and fruit flavors has become a significant trend in recent years. Citrus is considered to be one of the most preferred flavors by consumers, when it comes to refreshing beverages. Citrus flavors offer a broad spectrum of taste nuances as compared to any other fruit category, and have consistently been chosen for a wide range of applications; no other taste enjoys greater acceptance in the beverage industry. Thus, trending fruit flavors are expected to create huge opportunities for stakeholders in the global citrus flavors market.
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A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
COVID-19 Impact on Citrus Flavors Market
The outbreak of COVID-19 has had a serious negative impact on the global economy, as it continues to face new hurdles to adjust to the new normal. A majority of nations have been forced to implement lockdowns and work stoppage orders, in order to ensure safety and stop the spread of COVID-19. Except for the pharmaceutical industry, a majority of the other industries have been greatly impacted, which has led to a slowdown in world economic growth. The fruit flavors industry has also been impacted; however, demand for citrus flavors is expected to witness a rise owing to surge in demand for vitamin C-rich foods. All in all, the impact of the coronavirus pandemic is expected to be moderate on the global citrus flavors market.
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Key players operating in the citrus flavors market are focused on innovation, and thus, investing in R&D with a mindset of offering innovative products to food & beverage manufacturers engaged in the business of offering natural and safe flavored product solutions. Manufacturers are also following the strategy of expansion of production facility as well as strategic alliances/partnerships, mergers, and acquisitions with regional flavor and food manufacturers, to increase their market presence and product offerings in the global food & beverage market.