Global Orange Extract Market Overview

Orange Extract Market Size Was Valued at USD 675.86 Million in 2023 and is Projected to Reach USD 1061.13 Million by 2032, Growing at a CAGR of 5.14% From 2024-2032

Orange extract is a highly concentrated fruit flavor that has a significant amount of alcohol content, resulting in the improved shelf life of orange extract, and makes it an enchanting choice in the flavoring sector. This supports in demanding the growth of orange extract in the market. Moreover, the orange extract has a strong aroma and is utilized to add a refreshing citrus flavor to mousses, candies, and chocolates, as well as salty dishes such as fish, rice, and chicken. The rising size of the food and beverage industry, backed by the diverse applications of orange extract aids in enhancing the demand for orange extract in the global market. Besides, from the food industry, the orange extract also finds its application in the cosmetics industry. The nutritional properties of orange extract support the sustenance of our skin, making it suitable to be used for anti-wrinkle treatment, clearer skin, and anti-acne treatment. The growth in spending on personal care products results in a higher demand for orange extract in the market. Rising health awareness in consumers is leading them to use more natural-based products, rather than products that have synthetic ingredients, which is expected to grow the demand for orange extract during the projected period.

Market Dynamics and Factors for the Orange Extract Market

Drivers:

The demand for fruity flavors such as orange extract in processed food has grown speedy and continues to expand at a substantial rate, globally. There is a rising preference for ready-to-eat/ready-to-drink) and snacks help to the higher demand for exotic fruit flavoring. The encapsulation of such tropical fruit flavors to existing processed food continues to be one of the major strategies that are being adopted by the leading producers of processed foods to attract consumers, as such, turning the global orange extract market.

Consumers prefer fizzy and flavored drinks, which is anticipated to escalate the growth of the orange extract market. Owing to the unfavorable health effects of artificial flavors, individuals have opted to switch to drinks that contain natural fruit flavors. Health-conscious individuals are focusing more interest in plant-based drinks over other carbonated beverages. Also, consumers show a reduced preference for milk-based drinks, due to different reasons such as lesser shelf life, adulteration, presence of lactose, etc. This is also a key factor expected to turn the growth of the global orange extract market.

Orange extract production is a labor-intensive process, owing to the requirement of a considerable number of raw materials such as orange pulp and peels to produce minute concentrates, which are then chemically treated with alcohol. This is a key concern for the industry, the cost of flavoring agents like orange extract is a pivotal indicator of the price of the end product. Hence, the production advantages offered in emerging regions, in terms of low costs and favorable climate, are a beneficial driver for the growth of the market.

Restraints:

Existing and accessibility of global brands and their challenges experienced owing to large or scarce competition from local and domestic brands, the influence of domestic tariffs and trade routes are considered while supplying forecast analysis of the country data. Furthermore, the easy obtainability of substitutes products for orange extract is projected to restraint the overall growth of the orange extract market.

Opportunities:

The growing world population is leading to the increased consumption of food and beverage products, which, in turn, will result in a growth in the flavoring industry, due to its varied applications in dessert, bakery, confectionery, and beverage products, eventually raising the demand for orange extract in the global market. Orange extract is a high source of vitamin C, and its medicinal properties make it superior for usages as a proper solution for various health problems, which increases the demand for orange extract in the pharmaceuticals industry. The maximum demand for natural flavoring agents is one of the main reasons for rising the demand for orange extract. With growing per capita disposable income, a hike in the expenditure on personal care products is being observed, which is a major providing factor in the growth of the cosmetics industry, and therefore for orange extract in the market during the forecast period. Sensing profitable growth backed by high-profit margins, numerous new players are expected to penetrate the orange extract market in the upcoming years.

The rising demand for aromatic essential oil over the globe is expected to promote lucrative opportunities for the producers of orange extract. Aromatic oil extracted from the peels of oranges would result in the increased distribution of orange extract to the cosmetic and personal care sectors. Hence, the usages of orange extract in these sectors are anticipated to cater to greater opportunities in the future period.

Market Segmentation

Segmentation Analysis of Orange Extract Market:

Based on Nature, the organic segment held the maximum share in the market due to the extension to the growing utilization of organic products among consumers over the globe. A universal health consciousness as consumers supports more natural and chemical-free products.

Based on the Application, the food and beverage segment is anticipated to expand at the largest market growth during the forecast period due to raised investigation in the food & beverage. Furthermore, the cosmetic segment is also expected to rise significantly, due to orange extracts' wide custom because of the high nutritional characteristics.

Based on the Form, the liquid segment is accounted for the maximum market share during the forecast period. Gaining popularity for the cold drinks, and good handling packaging materials, also original plant-based beverages are more popular in the athletic or sports person leads to increase the segment growth over the projected period.

Based on the Distribution Channels, the supermarket/hypermarket channel segment is expected to register the maximum share during the forecast period. Different variety of beverages or products available under one roof, also various offers and discounted offers are provided by the respective companies as well as supermarket owners leads to attracting the consumer to the product and helps to growth of this channel segment.

Regional Analysis of Orange Extract Market:

North America's orange extract market size dominated due to The United States market owing to several factors, including the country's thriving food and beverage industry, customer desire for natural flavors, and the broad use of orange extract in a variety of sectors. In the United States, the food and beverage industry widely use orange extract as a natural flavoring ingredient in drinks, baked products, sweets, and a variety of processed meals. Furthermore, the rising trend toward natural and healthier components boosted demand for orange extract in the region. The cosmetic and personal care business in the United States also contributed to the market share, with orange extract being used in skincare, haircare, and aromatherapy products owing to its perceived advantages and pleasant smell. In addition, the pharmaceutical industry used orange extract in nutritional supplements and therapeutic compositions. The U.S. market's dominance was further aided by an advanced retail environment and excellent distribution networks, which allowed for extensive availability of orange extract goods across several retail channels.

Players Covered in Orange Extract Market are:

• 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.
• Amoretti and other Major Players.

Key Industry Developments of Orange Extract Market

• In January 2024, the chemical engineering department of Visvesvaraya National Institute of Technology, Nagpur, announced the successful development of an oil extraction method from orange peels. The research aims to recycle and utilize discarded orange peels to extract oil that can be utilized as a flavor for food products and supplements.

• In December 2023, Döhler, a leading producer and distributor of natural ingredients and food solutions announced the acquisition Frikos, a Serbian company renowned for its expertise in premium quality freeze-dried fruits. This acquisition marks a significant step in enhancing Döhler's strategic product portfolio, particularly around organic red berries