Orange Extract Market

• Growing Consumer Interest in Exotic Fruit Flavours is driving market growth.

The demand for fruity flavors like orange extract in processed foods has quickly increased and is still growing significantly globally. Ready-to-eat/ready-to-drink foods and snacks are becoming more popular, which has increased demand for exotic fruit flavoring. One of the primary techniques used by the top producers of processed foods to draw consumers continues to incorporate such exotic fruit flavors, fueling the worldwide orange extract market. Thus, driving the orange extract market revenue.

Consumer preference for flavored and fizzy drinks is anticipated to fuel the market for orange extract. People have switched to drinks with natural fruit flavors due to the negative health impacts of artificial flavors. People interested in their health favor plant-based drinks over other fizzy beverages. Additionally, customers' preferences for milk-based beverages have decreased for various reasons, including shorter shelf life, the inclusion of lactose, impurity, etc. This is another important element that will likely fuel the market for orange extract worldwide.

The rising demand for beverages in Western Europe and Latin America is anticipated to present significant potential for competitive players in the orange extract market. The orange extract will likely see large sales due to the increasing demand for nutraceuticals with all-natural flavors and components. During the forecast period, key players in the orange extract market are anticipated to take advantage of this potential. Food and beverage firms are putting a lot of effort into research and development to improve the nutritional profile and multifunctionality of orange extract, which has a lot of health benefits.

The increasing demand for aromatic essential oils is projected to open up more prospects for orange extract producers. Orange extract would be more widely distributed to the cosmetic and personal care industries due to aromatic oil production from orange peels. Therefore, it is anticipated that there will be more chances over the projection period due to the use of orange extract in these industries.

The Global Orange Extract Market Industry experiences a notable surge in demand for natural ingredients, driven by increasing consumer awareness regarding health and wellness. As consumers gravitate towards products that are perceived as natural and organic, orange extract, known for its flavor and fragrance, finds extensive applications in food and beverages, cosmetics, and dietary supplements. This trend is expected to bolster the market, with projections indicating a market value of 0.78 USD Billion in 2024, potentially reaching 1.41 USD Billion by 2035. Such growth reflects a compound annual growth rate of 5.52% from 2025 to 2035, highlighting the increasing preference for natural alternatives.

By region, the study provides market insights into North America, Asia-Pacific, Europe, and the Rest of the World. In 2022, the North American region accounted for 48% of the market. Due to advancements in marketing analytics technology and long-standing industry participants, growth would be feasible. Additionally, in numerous nations, including the U.S., Mexico, and Canada, enterprises, third-party administrations, and others are concentrating their efforts on manufacturing consumer-centric items, which will help the region grow.

The market for orange extract is anticipated to grow rapidly due to increasing demand, higher income, updated technology and equipment, and programs to increase awareness of the need.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: ORANGE EXTRACT MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Europe's orange extract market accounts for the second-largest market share due to the region's increasing food and beverage industry. Further, the German orange extract market held the largest market share, and the UK was the fastest-growing market in the European region.

The Asia Pacific orange extract Market is expected to grow at the fastest CAGR from 2023 to 2032. During the forecast period, the creation of several consumer goods infused with orange extract and improvements in agricultural techniques are projected to be significant drivers of the Asia-Pacific market's growth. Moreover, China’s orange extract market held the largest market share, and the Indian orange extract market was the fastest-growing market in the North American region.

Leading industry companies are making significant R&D investments to diversify their product offerings, which will spur further expansion of the market for orange extract. Market participants also engage in various strategic actions to increase their worldwide footprint. Important market developments include introducing new products, increased investments, contractual agreements, mergers and acquisitions, and collaboration with other organizations. The orange extract sector must provide affordable products to grow and thrive in a more cutthroat and competitive market environment.

One of the main business strategies manufacturers use in the worldwide gluten-free beer industry to benefit customers and expand the market sector is local manufacturing to reduce operational costs. The orange extract sector has recently provided some of the most important medicinal benefits. Major players in the orange extract market, including Döhler GmbH (Germany), RC Fine Foods, Inc. (US), McCormick & Company, Inc. (US), Nielsen-Massey Vanillas, Inc. (US), Kerry Group Plc. (Ireland), Nutrizo Advancis Health Care (India), Cook Flavoring Company (US), and others.

Döhler is a leading producer, marketer, and supplier of technology-based natural ingredients and ingredient systems, also known as food additives, for the food and beverage industries. They offer a wide variety of products, including flavors, colors, specialty & performance ingredients, cereal components, dairy ingredients, fruit & vegetable ingredients, and ingredient systems. Döhler, a German company headquartered in Darmstadt, has 23 production facilities, 24 application centers, 50 sales offices, and sales representation in over 130 nations. From concept to completion, integrated food and beverage solutions are offered by more than 5,000 personnel.

An American food firm named McCormick & Firm, Incorporated creates, markets, and provides retail establishments, food producers, and food service companies with spices, seasoning mixes, condiments, and other flavoring items. Based on income, they are the world's largest producer of spices and related food goods, and their products are sold in many nations. McCormick, a Fortune 500 corporation, employs over 14,000 people worldwide. In the third quarter of 2018, the corporate headquarters relocated from Sparks to Hunt Valley, Maryland.