Lemon Extract Market Size & Share | Industry Forecast, 2024-2032
By Ritesh on November 5, 2024
Lemons and citrus squeezer on a table
The global lemon extract market size was worth around USD 3.09 billion in 2023 and is predicted to grow to around USD 6.07 billion by 2032 with a compound annual growth rate (CAGR) of roughly 7.8% between 2024 and 2032.
Together with enough alcohol, lemon peel oil is used to make lemon extract. Natural citrous nature makes it abundant in vitamin C. Because of its toothsome taste and unique perfume, the extract is rather common in the food and beverage sector. Mocktails, lemonade, and baked goods all call for it. It is also employed in the cosmetic sector since it revitalises dead skin skills and is usually used for making moisturisers, face cleansers, facial masks, and other skin care products.
Growing product use in the food and beverage sector is predicted to drive notable increase in the worldwide lemon extract market over the forecast time span. Furthermore, the growing health-conscious population has created demand for natural products, particularly those with medical advantages like lemon extract as it has various healing qualities.
Rising raw material prices, however, could impede the worldwide expansion of lemon extract industry. Alternatively, rising product uses in the animal feed sector as an alternative for anti-infection medicines assists in preventing diseases in animals, thereby driving additional growth in the lemon extract market.
We have included a competition landscape and a study of Porter’s Five Forces model for the market to provide the customers of this report a whole perspective of the lemon extract industry. The report includes a market attractiveness analysis in which every segment is benchmarked according on their market size, development rate, and general appeal.
To present a more complete picture of the main companies in the market, the study offers company market share information. Furthermore covered in the report are important strategic developments of the market including acquisitions and mergers, new product introduction, agreements, partnerships, joint ventures, research and development, and regional expansion of significant players engaged in the market on a global and local level. Furthermore covered in the study are product portfolios of different companies based on the location and pricing trend analysis.
The Global Lemon Extract market profiles key players such as:
● McCormick & Company
● Nielsen-Massey Vanillas
● Döhler
● Watkins Incorporated
● Red Stick Spice Company
● B&G Foods
● Lionel Hitchen Essential Oils
● The Spice Hunter
● Kerry
● Star Kay White
● Foods & Ingredients
Market for Lemon Extract: Regional Review
The regional segment covers the past and projected demand for North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
Given the large population in the Asia Pacific area with circulatory and respiratory problems, the area is predicted to demonstrate highest future development. Given the growing emphasis on product innovation and technological developments across North America, the country is probably going to flourish conspicuously in the global lemon extract market.
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