Global Citrus Solvents Market is expected to rise at a 5.5% CAGR from 2023 to 2033, reaching US$ 2.7 Billion: Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Driven by a 5.9% CAGR, the citrus solvents market in the United States is projected to experience significant growth through 2033. With an expected market share of 89.6% in 2023 and an estimated increase to 91.2% in 2033, the United States remains a dominant player in the North American citrus solvents market.
NEWARK, Del, May 24, 2023 (GLOBE NEWSWIRE) -- The global citrus solvents market is anticipated to reach US$ 1.5 billion in 2022. The appeal of natural products is the main factor driving the market. With a CAGR of 5.5% from 2023 to 2033, it is anticipated to have produced US$ 2.70 billion by 2033.
The substance is used in a variety of industrial fields, primarily as a degreaser, paint thinner, scent, as well as insect repellant. These are also common components in many products for home care. Home cleansers with citrus solvents are being introduced by a number of market participants, which is anticipated to boost company sales.
In place of artificial solvents, citrus solvents are also employed in personal care products. It provides certain qualities like antioxidants and scent, which raises the product's worth. Additionally, they are employed as cleaning agents in a variety of sectors. For instance, the coating and paint industry uses it as a thinner.
These items are biodegradable and include solvents that are found in nature. Its primary constituent is citrus oil. It possesses distinctive chemical characteristics and pleasant citrus aromas that are employed in a variety of chemical applications. They are principally employed in the production of secondary cooling fluids as well as solid paints.
Key Takeaways from the Market Study
The sales of citrus solvents increased at a CAGR of 3.9% between 2018 and 2022.
In terms of market share in 2023, the organic nature category is anticipated to command a 39.2% share.
In 2023, industrial and household cleaners are anticipated to hold a 31.2% value market share.
In 2023, direct sales will have a 58.2% market share when compared to other sales channels.
The United States market share in North America is predicted to be 89.6% in 2023 and to increase to 91.2% in 2033.
In 2023, Brazil is anticipated to have a 42.1% value market share.
“Many customers are seeking organic and non-toxic goods since skin and hair are essential components of every person and as a result, the market is expected to grow rapidly throughout the forecast period.” remarks an FMI analyst.
Mergers and acquisitions, as well as the introduction of new products, are among the primary techniques used by market participants to achieve convergence and enhance their offers. Cost reduction and increased market presence in specialized applications are the main objectives of major industry participants.
Prominent players in the citrus solvents market are:
Lemon Concentrate S.L.
Citrosuco S.A.
Louis Dreyfus Company B.V.
Sucocitrico Cutrale Ltd.
Peace River Citrus Products
Archer Daniels Midland Company
Norkem Group
Citrus Oleo
Mentha & Allied Products Ltd.
Some key developments of the leading companies in this market are:
The primary business of Lemon Concentrate is the distribution and marketing of all varieties of fruit juice concentrations to the food and beverage processing sector on a global scale.
The business started as a joint venture involving two extremely specialized businesses that produced processed tropical, citric fruits as well as fruit concentrates. Lemon Concentrate is a reputable supplier of lemon, orange, and clementine goods with more than 50 years of expertise in the food processor along with fruit concentrates industries.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global citrus solvents market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the citrus solvents market, the market is segmented on the basis of citrus solvents by nature type (organic, conventional), application (paints and coatings, skin and hair care, printing ink), sales channel (direct sales, modern trade, speciality store) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Explore FMI’s Extensive Coverage in Food & Beverage Domain:
Citrus Flavors Market Size: 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.
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Citrus Pectin Market Forecast: The global Citrus Pectin market is estimated at US$ 116.9 Bn in 2022 and is projected to reach US$ 183.9 Bn by 2032, at a CAGR of 4.6% from 2022 to 2032.
Citrus Fiber Market Growth: The market holds a share of US$ 120.8 Million in 2023 while expecting revenue of US$ 211.3 Million by 2033.
Citrus Molasses Market Value: Changing consumer preferences towards healthy and organic products is likely to aid sales to US$ 1507.06 million by 2033, garnering a CAGR of 7.4% during the forecast period, 2023 to 2033.
Citrus Pulp Market Overview: The global citrus pulp market is expected to be valued at US$ 180.97 million in 2023 and reach a valuation of US$ 287.2 million by 2033.
Citrus Alcohol Market Volume: The market is anticipated to accelerate with a CAGR of 7.9% during the forecast period. By 2033, the valuation is projected to cross US$ 2,276.9 million.
Citrus Gummies Market Outlook: Global citrus gummies market is expected to be valued at US$ 194 million in 2023 and to reach a valuation of US$ 304.1 million by 2033.
Citrus Water Market Analysis: The citrus water market is expected to register a 17.1% CAGR during the forecast period, from US$ 10.59 million in 2023 to US$ 51.9 million in 2033.
Citrus Pulp Fiber Market Scope: The global citrus pulp fiber market is expected to reach a market valuation of USD 162.5 Mn by 2022, accelerating with a CAGR of 6.6% by 2022-2032.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of a high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
