Orange Extract Market: Global Industry Analysis and Forecast (2023-2029)

Global Orange Extract Market reached a value of US$ 594.36 Mn. in 2022. The global market is expected to grow at a CAGR of 6% during the forecast period. The market is expected to reach a value of US$ 893.7 Mn. by 2029.
Orange Extract Market Overview:
Orange extract is a substance made from oranges. Vitamin C is abundant in orange extracts. It offers several advantages, including aiding in manufacturing hemoglobin and lowering blood sugar levels in the human body. Orange extracts are commonly employed in the pharmaceutical business due to these features. Orange extract's nutritional characteristics aid in nourishing the skin, making it ideal for cleaner skin, anti-wrinkle treatment, and acne treatment.To know about the Research Methodology :- Request Free Sample Report

Orange extract is a highly concentrated fruit flavor with a substantial amount of alcohol content, giving it a longer shelf life and making it a popular choice in the flavoring industry. This contributes to the market's expansion of orange extract. The orange extract has a powerful perfume and is used to give candies, mousses, and chocolates a pleasant citrus flavor and savory dishes like fish, rice, and chicken.
Orange Extract Market Dynamics:
Exotic Fruity Flavors are becoming increasingly popular which is driving the growth of the market:
The demand for fruity flavours like an orange extract in processed foods has exploded and continues to do so at a rapid pace around the world. Ready to eat and ready to drink foods and snacks are becoming increasingly popular, resulting in increased demand for exotic fruit flavours. The incorporation of exotic fruit flavours into existing processed foods remains one of the important strategies used by top processed food producers to attract customers, owing to this factor the orange extract market has seen immense growth.

Furthermore, rising disposable income, a growing population, rising awareness of the health benefits of orange extracts, such as nutritional properties that aid in skin nourishment, rising spending on personal care products, and rising food and beverage expenditure are all expected to contribute to the orange extract market's growth.

Orange extract extraction is a labour-intensive technique that also requires a large number of raw components:

The primary phase in splitting the desired natural products from the raw elements is extraction. Rendering to the extraction principle, extraction procedures comprise solvent extraction, distillation, pressing, and transferral. The most common method is solvent extraction. Soxhlet extraction is a high efficiency automatic continuous extraction technology that takes less time and uses less solvent than maceration or percolation. The Soxhlet extraction's high temperature and long extraction period will raise the chances of thermal deterioration. This technique may require highly skilled labour which is an expensive option for the manufacturer, these factors are hindering the growth of the market.

Preference for flavoured beverages is increasing which is giving a huge opportunity for the market:

Consumers currently favour effervescent and flavorful drinks, which is projected to drive the orange extract market forward. Individuals have chosen to switch to drinks that include natural fruit flavours due to the negative health impacts of artificial flavours. Plant-based drinks are gaining popularity among health-conscious consumers, who prefer them to conventional fizzy beverages. In addition, consumers have a lower preference for milk-based drinks for a variety of reasons, including shorter shelf life, the presence of lactose, adulteration, and so on. This is also likely to be a prominent component for giving a huge opportunity for the market.
Orange Extract Market Segment Analysis:
By Form, the market is segmented into Powder and Liquid. The Liquid segment is expected to hold 64.4 % of the overall market share in terms of revenue by 2029. Gaining demand for cold drinks and easy to handle packaging materials, as well as original plant-based beverages becoming more popular among athletes and sportspeople, the category is expected to develop during the forecast period. As a result of the increasing use of liquid orange extracts in the food and beverage sector, this segment is fuelling the growth of the market.

However, the Powder segment is expected to grow at a CAGR of 5.4% during the forecast period. Powders are solid dosage forms that contain finely divided drugs and other chemicals for consumption or application externally. Orange peel powder is a natural herbal powder for beautiful skin that is rich in vitamins, minerals, and vitamin C antioxidants. It contains more vitamins, minerals, and vitamin C antioxidants than the orange itself. Vitamin C aids in the formation of collagen and elastin, which are essential for healthy skin.

By Application, the Orange Extract Market is segmented into Food & Beverages, Cosmetics, Pharmaceuticals, Bakery, and Creams. The Food & beverages segment is expected to hold 32% of the overall market share in terms of revenue by 2029. Orange Extracts are concentrated flavours derived from oranges and soaked in alcohol. All extracts must contain at least 33% alcohol, which is burned off throughout the cooking or baking process, leaving a rich flavour. Orange extract is prepared from orange peel oil, water, and ethanol. The following ingredients are found in the Club House brand which comes in Alcohol (75-85%), Water, and Natural Orange Oil. Orange oil will make up about 5% of the solution. These oils are commonly derived from orange extract materials, which are used in the food and beverage industries.

However, the Cosmetics segment is expected to grow at a CAGR of 6.4% during the forecast period. Orange Extract is recommended for a wide range of cosmetic goods, including anti-ageing, hydrating, depigmenting, and cosmetic products that improve general blood circulation, due to its exfoliating effect. The orange extract has a mild astringent effect that aids in the treatment of acne-prone skin. It's mild and helps to relieve itching and irritation while also decreasing acne and scars. Orange oil can also help to restore the skin's natural oil balance which is a major reason for driving the growth of this segment.
Regional Insights:
The North American region accounted for the largest market share of 38% in 2022. The expansion would be achievable owing to marketing analytics technologies and existing players who have been in the market since the beginning. Furthermore, government organizations, businesses, third-party administrations, and others are focusing their efforts on developing customer-centric goods in various countries such as U.S, Mexico and Canada, which will help the region prosper. The orange extract market is expected to rise significantly due to rising demand, greater income, updated technology and machinery, as well as programmers to raise awareness of the requirement.

However, the Asia Pacific region is expected to grow at a CAGR of 4.9% during the forecast period. This can be recognized as expanding consumer health consciousness in the region, as well as rising disposable income. Orange extract is rapidly being used in a variety of businesses to make everything from snacks to anti-ageing lotions. The development of many consumer items infused with orange extract, as well as advancements in agricultural practices, are likely to be important drivers of the Asia-Pacific market's growth during the forecast period.

The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the market dynamics, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by Technology, price, financial position, product portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.
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Orange Extract Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 594.36 Mn.


Forecast Period 2023 to 2029 CAGR:
6%
Market Size in 2029:
US $ 893.7 Mn.


 Segments Covered:
by Form
Powder
Liquid


by Application
Food & Beverages
Cosmetics
Pharmaceuticals
Bakery
Creams


by Nature
Organic
Conventional


by Distribution Channel
Supermarket/Hypermarket
Convenience Stores
Specialty Stores
Online Sales Channel



Orange Extract Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players are:
1. Southern Flavoring Company
2. LorAnn Oils
3. McCormick & Company Inc
4. Nielsen-Massey Vanillas
5. Döhler GmbH
6. Cook Flavoring Company
7. Dongguan Meihe Biotechnology Co.Ltd
8. Elan Chemical Company Inc
9. Nature's Sunshine Products Inc
10.Bakto Flavors LLC
11.Shaanxi Guanjie Bio-technology Co.Ltd
12.Lionel Hitchen USA Ltd
13.Bio Botanica Inc
14.International Flavors & Fragrances Inc
15.Jacksonville Mercantile

Frequently Asked Questions:

1] What segments are covered in the Orange Extract Market report?
Ans. The segments covered in the Orange Extract Market report are based on Form and Application.

2] Which region is expected to hold the highest share in the Orange Extract Market?
Ans. The North American region is expected to hold the highest share in the Orange Extract Market.

3] What is the market size of the Orange Extract Market by 2029?
Ans. The market size of the Orange Extract Market is expected to be 893.7 Mn. by 2029.

4] What is the forecast period for the Orange Extract Market?
Ans. The forecast period for the Orange Extract Market is 2023-2029.

5] What was the market size of the Orange Extract Market in 2022?
Ans. The market size of the Orange Extract Market in 2022 was US$ 594.36 Mn.