Citrus Concentrate Market to Close in on US$ 12 Bn Valuation by 2029; Rising Demand Seen from Manufacturers of Alcoholic Beverages
Published On : Feb 07, 2020
Citrus concentrate has a wide range of applications in the food & beverage industry, including alcoholic and non-alcoholic beverages, carbonated drinks, nutritional beverages, snacks, soups, confectionery, and dairy products. The popularity of citrus fruits and ingredients is increasing across the world, attributable to their sweet, sour, and refreshing taste. Moreover, citrus fruits are rich in vitamins and have high nutritional value. These factors are boosting the popularity of citrus concentrate on a global scale. Lemons, oranges, limes, and grapefruits are consumed all over the world, and ingredients made from these fruits are gaining popularity among consumers as well as manufacturers in the food & beverage industry.
On the back of these factors, the global citrus concentrate market is projected to register a decent growth rate of 5.2% over the forecast period of 2019-2029.
Key Takeaways from Global Citrus Concentrate Market Study
- Europe holds a significant share in the global citrus concentrate market, followed by North America, attributable to the presence of a large number of consumers that prefer citrus-flavored food products and beverages in these regions.
- The tangerines segment is anticipated to register the highest growth rate in citrus concentrate market over the forecast period.
- South Asia, followed by East Asia, is expected to register the highest growth rate as compared to other regions over the forecast period, owing to increasing popularity of citrus-flavored products in these regions.
- The organic segment is projected to register substantial growth over the forecast period, on account of the rising demand for chemical-free and clean label ingredients by manufacturers in food & beverage and pharmaceutical industries.
- The liquid segment of the global citrus concentrate market is projected to hold a significant share during the forecast period of 2019-2029.
“Europe is the largest importer of citrus fruits and ingredients. Increasing production of citrus-based offerings, coupled with rising popularity of citrus concentrate among consumers in this region, is anticipated to offer substantial growth opportunities for players in the citrus concentrate market,” says a PMR analyst.
Global Citrus Concentrate Market: Competitive Landscape
Manufacturers in the citrus concentrate market have strategically located their production facilities near citrus-producing regions to source fresher raw material and provide superior quality products with a longer shelf-life. This strategy also enables them to save on time, production cost, and transportation expenditure.
- Döhler, a key player in the global citrus concentrate market, strives to increase its presence in the international market by opening new offices and production facilities in major fruit-producing countries such as Brazil and Argentina. It also focuses on expansion in other major citrus-producing nations.
Manufacturers are also focusing on the expansion of their production facilities as well as the production of application-specific concentrates for industries such as alcoholic beverages, non-alcoholic beverages, sweets and confectionery, bakery, and dairy.
- Citrus Systems Inc. provides customized product solutions to alcoholic beverage manufacturers.
Explore More Valuable Insights on Citrus Concentrate Market
Persistence Market Research, in its new report, offers an impartial analysis of the global citrus concentrate market, presenting historical data (2014-2018) and estimation statistics for the period of 2019-2029. The study offers compelling insights on the citrus concentrate market based on source (oranges, lemons & limes, grapefruits, tangerines, and others), nature (organic and conventional), end use (food & beverage industry, pharmaceuticals, nutraceuticals, personal care & cosmetics, and others), and form (dry and liquid), across seven regions.
For additional insights on how the citrus concentrate market will shape up over the next decade, write to firstname.lastname@example.org
About the Food & Beverage Division at Persistence Market Research
The Food and Beverage team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, our team is happy to help with every unique business intelligence research and consulting requirement.
Citrus Concentrate Market
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