As per the research conducted by Fast. MR, the report titled “ Citrus Powder Market – By Product Type (Orange, Lime, Grapefruit, Lemon and Others), By Application (Food, Beverages, Confectionary, Bakery, Personal Care & Beauty Products and Others) – Global Market Analysis, Trends, Opportunity and Forecast, 2018-2024” provides current as well as future analysis of the market by evaluating the major applications, advantages, trends, and challenges. The report dives deeper to produce useful insights into Citrus Powder Market such as major global regions and key competitors and strategies that can be used for the entry-level player too.
Global citrus powder market is estimated to reach USD XX million in 2024, registering a compound annual growth rate (CAGR) of 6.3% between 2019 and 2024. Growing usage of citrus powder as a flavouring agent in food and beverages is envisioned to bolster the growth of the global citrus powder market. Moreover, consumers across the world are rising the demand for “real” and natural ingredients. This can be attributed to high awareness among consumers regarding the advantages of natural ingredients such as genuine taste and synthetic free.
Market Insights
Growth Drivers – Citrus Powder Market
Increasing Demand for Natural Flavors
Since the past few years, people shift for food has been making an intriguing shift towards healthier and clean label food products. Consumers are preferring food & beverages products free from chemically processed or synthetic ingredients. This factor is envisioned to bolster the growth of the global citrus powder market.
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Growing Demand in Food & Beverages Industry
Various restaurants and food chains across the globe are removing the artificial flavours from their menus and opting for natural ingredients which further is envisioned to bolster the growth of citrus powder market in the years ahead. In 2017, Yum brands announced it has removed 70% of artificial flavours from its menus and is planning to eliminate 100% by the end of 2024.
Segmentation Analysis
The citrus powder market by product type is segmented into orange, lime, grapefruit, lemon and others. In this segment, a lime segment is anticipated to capture the largest market share in 2024.
Based on application, the citrus powder market is further sub-segmented into food, beverages, confectionery, bakery, personal care & beauty products and others. Beverages segment captured significant market share in the overall citrus powder market in 2018.
Geographical Analysis
Geographically, the report offers an analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In citrus powder market, Europe dominated in 2018, acquiring a significant portion of the overall market. Further, Europe citrus powder market is anticipated to grow at a CAGR of 5.6% during the forecast period. This can be attributed to high awareness and the importance of a healthy lifestyle among people in Europe. Asia Pacific citrus powder market is expected to witness lucrative growth during the forecast period. Increasing utilization of citrus powder in various industries including beverage, personal care, among others is anticipated to fuel the growth of Asia Pacific citrus powder market during the forecast period.
Competitive Analysis
The report also covers detailed competitive analysis of major market players of global citrus powder market, such as Bluegrass Dairy & Food, Inc., Paradiesfrucht GmbH, Kanegrade Limited, Ideal Food Ingredients Limited, Allen Flavors. Inc., Mountain Rose Herbs, Inc., Nutra Green Biotechnology Co., Ltd., Cifal Herbal Private Ltd., Sunspray Food Ingredients (Pty) Ltd., Vita-Pakt Citrus Products Co and Other Prominent Players. The citrus powder market is witnessing a wide range of industry activities such as product launch, acquisition, partnership, and expansion across the globe.
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Key Questions Answered in the Global Citrus Powder Industry Report
• What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2024?
• Which region would have a high demand for the product in the upcoming years?
• What are the factors driving the growth of the market?
• Which sub-market will make the most significant contribution to the market?
• What are the market opportunities for existing and entry-level players?
• What are various long-term and short-term strategies adopted by the market players?
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