Orange Extract Market Outlook
Orange extract is a highly concentrated fruit flavour which has a significant amount of alcohol content, resulting in the increased shelf life of orange extract, and makes it an appealing choice in the flavouring industry. This helps in escalating the growth of orange extract in the market. Orange extract has a strong aroma, and is used to add a refreshing citrus flavour to candies, mousses, and chocolates, as well as savoury dishes such as fish, rice, and chicken. The increasing size of the food and beverage industry, backed by the diverse applications of orange extract aids in boosting the demand for orange extract in the global market. Apart from the food industry, orange extract also finds its application in the cosmetics industry. The nutritional properties of orange extract help in the nourishment of our skin, making it suitable to be used for clearer skin, anti-wrinkle treatment, and anti-acne treatment. The rise in spending on personal care products results in the higher demand for orange extract in the market.
Increasing health consciousness in consumers is leading them to use more natural-based products, rather than products that have synthetic ingredients, which is anticipated to boost the demand for orange extract over the forecast period. Owing to the medicinal properties of orange extract, it is highly preferred in sedatives, and antiseptic, antispasmodic, anti-depressant, and anti-inflammatory products, which is again a growth driver for the orange extract market. The abundance in the production of oranges is a major reason for the low cost and easy availability of orange extracts, which is expected to result in a hike in the demand for orange extract in the market over the forecast period.
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Growth of the food and beverage industry and increasing demand for natural flavouring agents is driving the orange extract market:
Owing to its resourceful nature, orange extract finds application in a varied range of food and beverage products, and the rising consumption of food products is motivating the production of orange extract in the market. We are witnessing a shift in consumer preference from synthetic ingredients to natural-based ingredients, which is escalating the demand for orange extract in the market. Due to its versatile nature and diversified range of applications, orange extract is favoured in numerous cosmetic and medicinal products, resulting in increased demand for orange extract in the market. Orange extract has numerous medicinal properties, which makes it fit for several pharmaceutical applications. This leads to a hike in the demand for orange extract. The price of orange extract is relatively low, owing to its high production, and this contributes to high-profit-margins, which attracts new market players to enter the orange extract market.
Orange Extract Market: Market Segmentation
On the basis of form, the global orange extract market has been segmented as:
On the basis of nature, the global orange extract market has been segmented as:
On the basis of application, the global orange extract market has been segmented as:
- Food and Beverages
- Soft Beverages
- Body Lotions
On the basis of distribution channel, the global orange extract market has been segmented as:
- Convenience Stores
- Specialty Retail Stores
- Online Retailers
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Global Orange Extract Market: Market Participants
- Döhler GmbH
- RC Fine Foods, Inc.
- McCormick & Company, Inc.
- Jacksonville Mercantile
- OliveNation, ADM
- Nielsen-Massey Vanillas, Inc.
- DONGYU USI
- Xian Yuensun Biological Technology Co., Ltd
- Shaanxi Guanjie Bio-technology Co., Ltd.