Orange Extracts Market to Reach $1,022 Million by 2030, Growing at a 5.9% CAGR | Food & Beverage Sector Drives Growth

According to a new report published by Allied Market Research, titled, “Orange Extracts Market by Form, Nature, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,”. The global orange extracts market size was valued at $580.4 million in 2020, and is projected to reach $1,022.0 million by 2030, registering a CAGR of 5.9% from 2021 to 2030. 

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲: https://www.alliedmarketresearch.com/request-sample/14082 

Orange extracts is a highly concentrated fruit flavor with a substantial degree of alcohol content, which gives it a longer shelf life and makes it popular choice in the flavoring industry. Orange extracts market is booming owing to increase in adoption of healthy diet across the globe due to rising consumers’ disposable income. 

The rising demand of orange extracts from cosmetics industry and higher demand for natural flavoring agents are factors driving the growth of the market. However, fluctuating raw material prices and climatic conditions are hindering the market growth of orange extracts.  

According to orange extracts market analysis, the market is classified on the basis of form, nature, end user, distribution channel, and region. By form, the market is segmented into powder and liquid. Rising trend of consuming orange extracts in variety of beverages have resulted into highest revenue generation in 2020. Based on nature, the market is segregated into organic and conventional. Conventional was the highest revenue generator because conventional orange extracts is widely preferred across various industries such as food & beverages, pharmaceuticals, cosmetics, and confectionery. 

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞: https://www.alliedmarketresearch.com/purchase-enquiry/14082 

According to the orange extracts market trends, by end user, the orange extracts market is fragmented into food & beverage, cosmetics, and pharmaceuticals. The food & beverage hold the largest market share in 2020, as orange extracts is gaining traction in the market owing to easy availability and wide application in the food & beverage industry. By distribution channel, the market is categorized into supermarkets & hypermarkets, convenience stores, specialty stores, and online sales channel. The specialty stores hold the largest market share in 2020, due to availability of wide variety of products in the stores. 

According to the orange extracts market forecast, region wise, the orange extracts market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America contributed the highest revenue in 2020 and is expected to dominate the market during the forecast period. 

The flavor trends have begun to emerge in the extracts market. For instance, the adoption of natural and organic flavors made with the help of fruits such as oranges are driving the market owing to its health benefits offered to consumers. 

The COVID-19 pandemic had moderate impact on the market growth. The supply chain disruption had a negative impact, while the increase in adoption of orange extracts owing to various health benefits had a positive impact on the orange extracts market. 

The major players operating in the orange extracts industry are  

• Döhler GmbH 
• RC Fine Foods, Inc. 
• McCormick & Company, Inc. 
• Jacksonville Mercantile 
• OliveNation 
• ADM (Archer Daniels Midland Company) 
• Nielsen-Massey Vanillas, Inc. 
• DONGYU USI 
• Xian Yuensun Biological Technology Co., Ltd 
• Shaanxi Guanjie Bio-technology Co., Ltd. 
• Amoretti 

𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝: https://www.alliedmarketresearch.com/request-for-customization/14082 

Population growth, rising incomes in developing countries, and urbanisation have all contributed to an increase in global orange extracts products production. The rising health-conscious people has led to increase in adoption of orange extracts in the market. As a result of which, the consumers are tending towards premium orange extracts products so as to minimize health associated risks. It also gives lucrative opportunities to producers to manufacture therapeutic and nutritional beverages concerning consumers’ health and would allow them to gain high market share by exploiting the orange extracts market opportunities. 

The global orange extracts market is driven by rapid utilization of orange extracts and demand for therapeutic foods & beverages. Healthy diet is a recent trend and has resulted in an increased focus on health, weight, and overall fitness of consumers. Therefore, the demand for premium and super premium products have witnessed a significant growth as a result of growing consumer awareness regarding benefits of orange extracts. 

𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞: https://www.alliedmarketresearch.com/checkout-final/b8347dd1f3b644e4b4ac954ed7b72e09 

Key findings of the study 

• The global orange extracts market was valued at $580.4 million in 2020, and is projected to reach $1,022.0 million by 2030, registering a CAGR of 5.9% from 2021 to 2030. 
• By form, the liquid segment was the highest contributor to the market, with $375.9 million in 2020, and is estimated to reach $702.7 million by 2030, at a CAGR of 6.5% during the forecast period. 
• By nature, the conventional segment was the highest contributor to the market, with $431.2 million in 2020, and is estimated to reach $714.4 million by 2030, at a CAGR of 5.2% during the forecast period. 
• By end user, the food and beverages segment was the highest contributor to the market, with $274.2 million in 2020, and is estimated to reach $430.0 million by 2030, at a CAGR of 4.6% during the forecast period. 
• By distribution channel, the specialty stores segment was the highest contributor to the market, with $365.9 million in 2020, and is estimated to reach $591.4 million by 2030, at a CAGR of 5.0% during the forecast period. 
• By region, North America was the highest revenue contributor, accounting for $225.2 million in 2020, and is estimated to reach $372.0 million by 2030, with a CAGR of 5.2%. 

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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. 

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