Research from Future Market Insights predicts that the global citrus flavors market is expected to expand at a CAGR of 4.9% over the forecast period. By 2032, the market value is anticipated to reach US$ 19.4 billion.
Players in the citrus flavors market are concentrating on R & D to deliver cutting-edge goods to food and beverage producers, leveraging qualities like refreshing taste and rich in vitamins and nutrition.
A trend toward preventative healthcare is pushing for using natural and healthy ingredients in food and beverage items. Demand for citrus flavors is therefore accepted largely by demographics that are health conscious as a healthier alternative to manufactured flavoring agents.
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End Users Demand
- The clean label movement has significantly changed consumer preferences, and they are now spending more money on the food goods that are best for them. High nutritional value and healthy food consumption are the focus of this trend.
- Economic costs and growing consumer knowledge of clean-label ingredients can be attributable to increased demand for citrus flavors and associated products.
- Most citrus flavor producers create citrus flavors devoid of synthetic chemicals or artificial additives.
Consumer Preference
- In the upcoming years, the market for citrus flavors is anticipated to expand as consumers’ preferences for products with fewer, more easily identifiable ingredients develop.
- Fruit consumption has significantly increased as a trend in recent years. When it comes to flavored beverages that are meant to be refreshing, citrus is one of the flavors that people tend to like the most.
As a result, the global citrus taste market’s players may anticipate to benefit greatly from trending fruit flavors.
The expansion of the worldwide market may need to be improved by the government’s strict regulation of import-export and product standards. Nevertheless, accelerated urbanization, shifting lifestyles, and rising disposable income all contribute to the demand for citrus flavors.
Moreover, the adoption of citrus flavor is also expanding, as citrus is increasingly used in various industries, including medicine and cosmetics. The global accessibility of a wide variety of citrus flavors fosters market expansion.
For instance, the premium citrus flavors produced by Frutarom Switzerland Ltd. include tangerine, orange, lemon, lime, grapefruit, and others. Due to their improved durability, these tastes are employed in various products, including dairy, confectioneries, beverages, and others. Therefore, the availability of various citrus flavors is expected to boost the market growth in the next few years.
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