Fort Collins, Colorado, April 22, 2024 (GLOBE NEWSWIRE) --
Consumer awareness of health benefits is expected to spur market growth.
The global market for oranges is undergoing significant expansion, buoyed by the growing consumer awareness of citrus fruits' health benefits. Oranges, renowned for their richness in vitamin C, folate, and dietary fiber, have garnered popularity among health-conscious consumers. According to the United States Department of Agriculture (USDA), global orange production is projected to reach 48.8 million tons by 2024. The increasing demand for orange-derived products, including orange juice, marmalade, and essential oils, will drive the market trajectory in the coming years.
Technological advancements in orange cultivation and post-harvest handling have played a pivotal role in fostering market expansion. Precision agriculture techniques, such as drip irrigation and fertigation, have enhanced crop yields and quality. Moreover, innovations in packaging, such as modified atmosphere packaging (MAP) and active packaging, have prolonged the shelf life of oranges, facilitating more extended transportation and storage durations. These advancements collectively contribute to the overall growth and sustainability of the global orange market.
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Segmentation Overview:
The oranges market has been segmented into type, application, and region.
Sweet oranges accounted for a substantial share of the orange market.
- The orange market is segmented by type into sweet orange, navel orange, blood orange, and red orange. The sweet orange type holds a substantial share of the type segment of the orange market. Sweet oranges, including varieties like Valencia and Hamlin, are widely consumed due to their appealing taste, versatility (fresh consumption, juicing, and cooking), and year-round availability. Sweet oranges' popularity and global cultivation contribute to their dominant market share.
The juice segment is projected to grow year-round in the global market owing to the popularity of orange juices.
- Based on application, the oranges market is segmented into juice, powder, and concentrate. The juice segment holds a substantial share of the application segment of the oranges market. The high demand for orange juice as a popular beverage choice among consumers across the globe, coupled with its perceived health benefits and convenience, contributes to its dominant market share.
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Oranges Market Report Highlights:
- The oranges market growth is anticipated at a CAGR of 4.7% by 2032.
- Rising demand for organic oranges will drive market growth during the forecast period.
- The Asia-Pacific region is expected to lead in the global market and will retain a leading position in the forthcoming years.
- Some prominent players in the market report include Tropicana Products Inc., The Coca-Cola Company, PepsiCo Inc., Florida's Natural Growers, Citrus World Inc., Vita-Pakt Citrus Products Co., Lochhead Manufacturing Company, Eckes-Granini Group GmbH, Citrosuco, Sucocitrico Cutrale Ltda., Constellation Brands Inc., Döhler GmbH, and others.
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