Portland, OR , Oct. 06, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global orange extracts market was estimated at $580.4 million in 2020 and is expected to hit $1.02 billion by 2030, registering a CAGR of 5.9% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increasing demand for orange extracts form the cosmetic & flavoring industry and higher demand for natural flavoring agents drive the growth of the global orange extracts market. On the other hand, fluctuating raw material prices and adverse climatic conditions restrain the growth to some extent. However, rising health consciousness in consumers is anticipated to create lucrative opportunities in the industry.
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COVID-19 scenario-
- The disrupted supply chain across the world impacted the global orange extracts market negatively, especially during the initial phase.
- However, as the global situation is getting better, the market is anticipated to recover soon.
The global orange extracts market is analyzed across form, nature, end user, distribution channel, and region.
Based on form, the liquid segment accounted for the major share in 2020, holding nearly two-thirds of the global orange extracts market. The same segment would also exhibit the fastest CAGR of 6.5% throughout the forecast period.
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Based on nature, the conventional segment generated the highest share in 2020, accounting for nearly three-fourths of the global market. The organic segment, however, is projected to manifest the fastest CAGR of 7.5% from 2021 to 2030.
Based on region, the market across North America held the lion’s share in 2020, garnering nearly two-fifths of the global market. The Asia-Pacific region, however, is expected to cite the fastest CAGR of 8.4% by the end of 2030. The other provinces studied in the report include Europe and LAMEA.
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The key market players analyzed in the global orange extracts market report include RC Fine Foods, Inc., McCormick & Company, Inc., Döhler GmbH, Jacksonville Mercantile, Nielsen-Massey Vanillas, Inc., OliveNation, ADM, DONGYU USI, Amoretti, Xian Yuensun Biological Technology Co., Ltd, Shaanxi Guanjie Bio-technology Co., Ltd. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
