Global Citrus Peel Extract Market Overview
Citrus Peel Extract Market Size was estimated at 0.37 (USD Billion) in 2022.The Citrus Peel Extract Industry is expected to grow from 0.39(USD Billion) in 2023 to 0.63 (USD Billion) by 2032. The Citrus Peel Extract Market CAGR (growth rate) is expected to be around 5.61% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Citrus Peel Extract Market Trends Highlighted
Key Citrus Peel Extract Industry Trends Emphasized
Citrus peel extract market is anticipated to grow considerably during the making clinical trial period due to the increased applications from the food and beverage industry. Increasing preference for natural and organic products, as well as awareness regarding the benefits of citrus peel extract, are contributing to the growth of the market. In addition to that, demand for the use of citrus peel extracts as natural antioxidants, antimicrobial and flavoring agents among others is presenting great prospects for the market players. The growing extraction technologies of innovative ideas, as well as the increasing application rate of the citrus peel extract to other end-use sectors such as pharmaceuticals, cosmetics, and personal care, are also factors aiding the growth of the market.
Citrus Peel Extract Market Drivers
Rising Health Consciousness and Demand for Natural Ingredients
Consumers are becoming increasingly health-conscious and are seeking out natural and organic products. This trend is driving the demand for citrus peel extract, as it is a natural source of vitamins, minerals, and antioxidants. Citrus peel extract has been shown to have a number of health benefits, including reducing inflammation, boosting the immune system, and improving skin health. The growing popularity of citrus peel extract in the food and beverage industry is also contributing to the growth of the Citrus Peel Extract Market Industry.
Increasing Use of Citrus Peel Extract in Food and Beverage Applications
Citrus peel extract is employed in numerous food and drink applications, such as beverages, baked goods, and confectionaries. The product is added to the beverage to develop the taste, color, and aroma of food and beverage goods. The growing preference for citrus-flavored products is expected to boost demand for citrus peel extract. In addition, the extract can be utilized in the food and beverage industry as a natural preservative.
Growing Demand for Citrus Peel Extract in Personal Care and Cosmetics
Also, citrus peel extract is utilized in personal care and cosmetics, including skincare, haircare, and oral care products. It has antioxidant, anti-inflammatory, and antimicrobial characteristics. Such extract can help improve skin, reduce inflammation, and protect against free radical damage.
Citrus Peel Extract Market Segment Insights
Citrus Peel Extract Market Extraction Method Insights
Market Segmentation By Extraction Method Cold Pressing Solvent Extraction Supercritical Fluid Extraction Hydrodistillation Among these, cold pressing accounted for the largest revenue share in 2023 owing to the ability to retain natural flavor and aroma. The solvent extraction segment is expected to witness the highest growth rate during the period of assessment owing to efficiency in extracting high-quality essential oils and other compounds. Critical fluid extraction is emerging to be a popular method since it can extract bio active compounds without harmful solvents.Hydrodistillation is a traditional method, and it is commonly used in the case of citrus peel oils. Citrus Peel Extract Market is anticipated to be USD 0.39 billion in 2023 and is estimated to grow over USD 0.63 billion by 2032.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Citrus Peel Extract Market Application Insights
The application segment plays a pivotal role in shaping the dynamics of the Citrus Peel Extract Market. Among the key applications, the food and beverages industry stands out as the largest revenue generator, accounting for a significant share of the market. The demand for natural flavorings and preservatives in the food and beverage sector has fueled the growth of this segment. Citrus peel extract is widely used in the production of soft drinks, juices, confectionery products, and baked goods, imparting a refreshing and zesty flavor profile.The pharmaceutical industry also represents a substantial segment, leveraging the therapeutic properties of citrus peel extract in the development of medications for various ailments. Moreover, the cosmetics industry has recognized the potential of citrus peel extract as a natural antioxidant and skin-brightening agent, driving its application in skincare and hair care products. Dietary supplements and other applications further contribute to the diverse applications of citrus peel extract in the market.
Citrus Peel Extract Market Form Insights
The Citrus Peel Extract Market is segmented based on form into liquid, powder, and capsules. The liquid segment is estimated to dominate the Citrus Peel Extract Market in 2024 and is expected to maintain its lead throughout the forecast period. This can be attributed to the ease of use and convenience offered by liquid forms, which make them ideal for a variety of applications. The powder segment is projected to witness steady growth over the forecast period due to its cost-effectiveness and longer shelf life compared to liquid forms.The capsules segment is anticipated to register the fastest growth rate during the forecast period as consumers become increasingly aware of the health benefits associated with citrus peel extract and seek convenient and precise dosage options.
Citrus Peel Extract Market Active Compound Insights
The Citrus Peel Extract Market is segmented into D-Limonene, B-Pinene, Citral, and Linalool based on Active Compound. Among these, the D-Limonene segment held the largest market share in 2023, and it is expected to continue its dominance throughout the forecast period. The increasing demand for D-Limonene in various industries, such as food beverages, pharmaceuticals, and personal care, is driving the growth of this segment. The B-Pinene segment is also expected to witness significant growth during the forecast period due to its rising applications in the flavor fragrance industry.Citral and Linalool are other important segments of the Citrus Peel Extract Market, and they are expected to contribute to the overall growth of the market.
Citrus Peel Extract Market End User Insights
The end-user segment plays a pivotal role in driving the Citrus Peel Extract Market growth. Food and beverage processors account for a significant portion of the market, utilizing citrus peel extracts as natural flavors, preservatives, and antioxidants in a wide range of products. Pharmaceutical companies also leverage citrus peel extracts for their therapeutic properties, particularly in the development of drugs for cardiovascular health and cancer treatment. Cosmetic manufacturers incorporate citrus peel extracts into skincare and hair care products owing to their cleansing, anti-aging, and brightening benefits.Health and wellness consumers increasingly seek out citrus peel extracts as dietary supplements due to their antioxidant and anti-inflammatory properties. The market is expected to witness steady growth in the coming years, driven by rising demand from these end-user segments.
Citrus Peel Extract Market Regional Insights
The regional segmentation of the Citrus Peel Extract Market plays a crucial role in understanding the market dynamics and growth opportunities. North America holds a significant share of the market, driven by increasing consumer awareness about the health benefits of citrus peel extract and its wide application in the food and beverage industry. Europe follows closely, with a growing demand for natural and organic ingredients in various industries. Asia-Pacific (APAC) is expected to witness substantial growth in the coming years, owing to the rising disposable income and changing dietary patterns in countries like China and India.South America and the Middle East and Africa (MEA) regions also contribute to the market, with potential for further growth due to increasing urbanization and the adoption of healthy lifestyles.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Citrus Peel Extract Market Key Players And Competitive Insights
Major players in the Citrus Peel Extract Market industry are continuously developing innovative products to meet the changing needs of consumers. Leading Citrus Peel Extract Market players are investing heavily in research and development to create new and improved products. This is expected to drive the growth of the Citrus Peel Extract Market in the coming years. The Citrus Peel Extract Market is expected to witness significant growth in the coming years, owing to the increasing demand for natural and organic ingredients in food and beverage products. Citrus Peel Extract is a natural extract derived from the peels of citrus fruits, such as oranges, lemons, and grapefruits. It is a rich source of flavonoids, which are powerful antioxidants that have been linked to a number of health benefits. Citrus Peel Extract is used in a variety of food and beverage products, including juices, soft drinks, and baked goods. It is also used in cosmetics and personal care products.One of the leading companies in the Citrus Peel Extract Market is Archer Daniels Midland Company. The company offers a wide range of Citrus Peel Extract products, including both natural and organic varieties. Archer Daniels Midland Company has a strong presence and is committed to providing high-quality products to its customers. Another major player in the Citrus Peel Extract Market is Dohler GmbH. The company offers a comprehensive portfolio of Citrus Peel Extract products, including concentrated juices, purees, and essential oils. Dohler GmbH has a strong focus on innovation and is constantly developing new products to meet the changing needs of its customers.A key competitor in the Citrus Peel Extract Market is Jiangsu Hengrui Medicine Co., Ltd. The company offers a wide range of Citrus Peel Extract products, including both natural and organic varieties. Jiangsu Hengrui Medicine Co., Ltd. has a strong presence in the Chinese market and is expanding its reach. Another major competitor in the Citrus Peel Extract Market is Indena S.p.A. The company offers a comprehensive portfolio of Citrus Peel Extract products, including standardized extracts, powders, and capsules. Indena S.p.A. has a strong focus on research and development and is committed to providing high-quality products to its customers.
Key Companies in the Citrus Peel Extract Market Include
- IFF
- Firmenich
- Symrise
- iHerb
- doTERRA
- BulkSupplements
- Starwest Botanicals
- Sunwin International
- Piping Rock
- The Vitamin Shoppe
- Young Living
- Swanson Vitamins
- Givaudan
- NOW Foods
- Robertet
Citrus Peel Extract Market Industry Developments
The Citrus Peel Extract Market is projected to reach USD 0.63 billion by 2032, exhibiting a CAGR of 5.61% during the forecast period. The rising demand for natural ingredients in the food and beverage industry and the growing awareness of the health benefits associated with citrus peel extracts are key factors driving market growth. The Asia-Pacific region is expected to hold a significant market share due to the increasing consumption of citrus fruits and the presence of a large population base. Key market players are focusing on product innovations and strategic collaborations to expand their market presence. Recent developments include the launch of new citrus peel extract products with enhanced flavor and functionality and the adoption of sustainable extraction techniques to minimize environmental impact.
Citrus Peel Extract Market Segmentation Insights
- Citrus Peel Extract Market Extraction Method Outlook
- Cold Pressing
- Solvent Extraction
- Supercritical Fluid Extraction
- Hydrodistillation
- Citrus Peel Extract Market Application Outlook
- Food and Beverages
- Pharmaceuticals
- Cosmetics
- Dietary Supplements
- Others
- Citrus Peel Extract Market Form Outlook
- Citrus Peel Extract Market Active Compound Outlook
- D-Limonene
- B-Pinene
- Citral
- Linalool
- Citrus Peel Extract Market End User Outlook
- Food and Beverage Processors
- Pharmaceutical Companies
- Cosmetic Manufacturers
- Health and Wellness Consumers
- Citrus Peel Extract Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
0.37(USD Billion) |
| Market Size 2023 |
0.39(USD Billion) |
| Market Size 2032 |
0.63(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.61% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
IFF, Firmenich, Symrise, iHerb, doTERRA, BulkSupplements, Starwest Botanicals, Sunwin International, Piping Rock, The Vitamin Shoppe, Young Living, Swanson Vitamins, Givaudan, NOW Foods, Robertet |
| Segments Covered |
Extraction Method, Application, Form, Active Compound, End User, Regional |
| Key Market Opportunities |
Citrus Peel Extract Market Key Opportunities1 Growing demand for natural ingredients in food and beverages2 Rising awareness of citrus peel extracts health benefits3 Increasing use in personal care and cosmetics4 Expanding applications in nutraceuticals and pharmaceuticals5 Technological advancements in extraction and processing techniques |
| Key Market Dynamics |
Rising demand for natural food ingredients Growing awareness of health benefits Technological advancements in extraction techniques Increasing use in cosmetics and personal care products Expanding applications in food and beverage industry. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Citrus Peel Extract Market is expected to be valued at around USD 0.39 billion in 2023.
The Citrus Peel Extract Market is projected to register a CAGR of 5.61% from 2024 to 2032.
North American region is expected to hold the largest share of the Citrus Peel Extract Market in 2032.
Citrus Peel Extract has applications in various industries, including food and beverages, pharmaceuticals, cosmetics, and personal care.
Some of the key competitors in the Citrus Peel Extract Market include Archer Daniels Midland Company, DhlerGroup, and Citromax Flavors, Inc.
The rising demand for natural and organic ingredients, increasing health consciousness, and growing application in various industries are driving the growth of the Citrus Peel Extract Market.
The challenges faced by the Citrus Peel Extract Market include seasonality of raw materials, stringent regulations, and competition from synthetic alternatives.
The Citrus Peel Extract Market is expected to reach a value of around USD 0.63 billion by 2032.
The food and beverage segment is expected to hold the largest share of the Citrus Peel Extract Market in 2032.
Some of the key trends shaping the Citrus Peel Extract Market include the rising demand for clean-label products, the growing popularity of e-commerce, and the increasing focus on sustainability.
