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Global Limonene Market InsightDecember 31, 2021 Comments
The Limonene is forecast to Rapid growth over the next years. According to the World Knowledge Information (WKI) “Global Limonene Professional Survey Report 2021, Forecast to 2026”, Multiple end-user industries are increasingly adopting natural ingredients and green chemicals, which has increased the global demand for limonene market. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 4.86% base on WKI regression analysis model.
“The surge in demand for natural and healthy ingredients in food and beverages has paved the way for the strong growth of the limonene market. It is recommended that the active marketing strategies of major players participating in the limonene market and the brand promotion of regional manufacturers help attract customers’ attention to limonene and limonene products. It can also increase the awareness of limonene among the elderly, thereby promoting the demand for limonene products in the elderly market.”said Jennie, Senior analyst, Chemical industry Market Research Center in WKI.
Due to its wide range of uses, the demand for limonene in household and personal care products is increasing, such as fragrance cleaners for kitchen equipment. In the global terpene market, the demand for limonene in the home care, food and beverage and pharmaceutical industries is growing rapidly. Due to the biodegradability and low VOC emissions of petroleum-based coatings, the demand has also increased with the replacement of petroleum-based coatings. In the food and beverage industry, flavor inspiration is the main factor that promotes limonene as a food additive to enhance food flavor and aroma. Limonene has a citrus aroma because it is extracted from the peel of citrus fruits, mainly oranges. At the same time, in the food and beverage industry, many companies are investing in research and development to add limonene to foods that are not currently in use. Recently, researchers tested its function as a chocolate crystallizer.
On the other hand, fluctuations in raw material production restrain the limonene market. In addition, in order to overcome the tight supply of citrus off-season, many manufacturers are emphasizing the development of substitutes for limonene, which has restricted the global limonene market.
Major brands are embarking on mergers and acquisitions and new product development as some of their key strategies for integrating and optimizing products. Some of the major players in the global limonene market include Florida Chemicals, Firmenich SA, TROPFRUIT NORDESTE SA, Citrosuco, Citrus Oleo, Astra Chemicals, Mentha & Allied Products Private Limited, Shree Bankey Behari Lal Aromatics, Banner Chemicals Limited Recochem Inc., Lemon Lemon Concentrate SL, Interstate Commodities Corp., Florida Chemical Company, Citrus Company of Belize Ltd. and Spectrum Chemical Mfg. Corp. etc.
Segmentation of Limonene Market:
According to the type, the global limonene market is subdivided into: food grade, pharmaceutical grade, industrial grade, and flavor grade.Since limonene is a plant-derived solvent, its adverse effects are small, so it is considered safe and more and more people are used in food, so its share in food is the largest.According to applications, the global limonene market can be divided into: food and beverage processing, dietary supplements, pharmaceuticals, cosmetics, home care and personal care.Due to the aromatic properties of limonene, it can be used as a stabilizer in carbonated beverages, fruit juices, ice creams and candies. According to the International Dairy Products Association (IDFA), the American Ice Cream Company produces a large number of gallons of ice cream. Therefore, its demand in the food and beverage industry accounts for the largest share.
Limonene Market: Regional Analysis
In terms of geography, the global Limonene market has been segmented into: North America, Europe, Asia Pacific, South America, Middle East and Africa.North America has an important market share in the global limonene market. The United States is the world’s largest producer of citrus fruits. Limonene and its derivatives are used in various personal care products. The increasing demand for natural ingredients in cosmetics and the preference for biodegradable products will drive the demand for limonene in the coming years. The Asia-Pacific region is expected to experience strong growth during the forecast period. In addition, with the increase in customer awareness, the demand for the limonene market is expected to grow during the forecast period.
Largest share area：North America
Largest share country：the Unite States