Dublin, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The "Limonene Market Size, Share & Trends Analysis Report By Source (Orange, Mandarin, Grapefruit), By End-use (Personal Care Products, Food Products), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
Global Limonene Market to Reach USD 497.61 Million by 2030, Exhibiting 6.0% CAGR from 2023 to 2030
The limonene market is experiencing remarkable growth, driven by the rising demand for natural and eco-friendly products. With the increasing popularity of citrus flavors and fragrances, as well as the expanding applications of limonene across various industries, the market is set to witness substantial growth in the coming years.
Leading the demand for limonene is the food and beverage industry, where it serves as a favored flavoring agent in a wide array of products, including soft drinks, juices, and alcoholic beverages. Additionally, the cosmetics and cleaning industries are significant consumers, utilizing limonene as a fragrance and cleaning agent in various personal care and cleaning products.
To maintain a competitive edge, companies in the limonene market are investing in research and development, focusing on developing new and innovative products, expanding their global presence, increasing production capacity, and adopting forward integration strategies.
For instance, industry players like Firmenich and Givaudan have pioneered the development of limonene-based natural flavors and fragrances, while Citrosuco, one of the world's largest producers of orange juice and orange peel products, offers a wide range of limonene-based products, including orange oil and orange peel extract.
Moreover, the rising popularity of aromatherapy and essential oils presents new opportunities for the limonene market. Limonene is widely used in aromatherapy as a natural mood enhancer, stress reliever, and immune system booster. The growing awareness of the benefits of essential oils and the increasing popularity of aromatherapy are expected to drive further demand for limonene in the future.
Advancements in production techniques, such as enzyme-mediated extraction and microwave-assisted extraction, are also expected to enhance efficiency and reduce costs, making limonene-based products more affordable and accessible to consumers. Furthermore, the expansion of applications in the pharmaceutical and agriculture industries presents promising growth prospects for companies operating in the limonene market.
With such positive market dynamics, the limonene market is poised for substantial growth in the upcoming years, driven by the increasing demand for natural, eco-friendly, and versatile products in various industries.
Limonene Market Report Highlights
- Lemon is the largest source segment which accounts for 33.8% by value in 2022. On the account of its use in various industry such as personal care, pharmaceuticals, cosmetics, and cleaning products. In addition, D-limonene, which is found in lemon oils, is used to treat cancer
- Personal Care Products are the fastest growing end-use segment with a CAGR of 6.4%, due to its health benefits which help in reducing obesity, cancer, bronchitis, and other diseases
- It is also being used as a bio pesticide in the agriculture industry, as it has insecticidal and herbicidal properties and is considered safer and more eco-friendly than synthetic pesticides
- Europe is the fastest growing region with a CAGR of 6.6%. As the region is home to many cosmetics & personal care manufacturers and has thriving opportunities for manufacturers as the demand for bio-based products is growing
- Florida Chemical Company has expanded its production capacity for citrus oils and derivatives to meet the growing demand from the food and beverage, cosmetics, and cleaning industries
Market Dynamics
Market Driver Analysis
- Increasing Use of Limonene in Global food industry
- Growing Global demand for Limonene from Other end - use industries
Market Restraint Analysis
- Fluctuations in Production of Raw Materials for Limonene
Business Environment Analysis
- Industry Analysis - Porter
- Macroeconomic Analysis: PESTEL Analysis
Competitive Landscape
- Lemonconcentrate S.L.U.
- Florida Chemical Company
- Arora Aromatics Pvt. Ltd.
- Citrus Oleo
- Sucorrico
- Belize Ltd.
- Spectrum Chemical
For more information about this report visit https://www.researchandmarkets.com/r/2obh5w
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