Rising Consumer Demand for Beverages: A Key Driver Transforming the Citrus Concentrate Market 2024

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The citrus concentrate market is expected to grow from $7.91 billion in 2023 to $8.36 billion in 2024, at a CAGR of 5.7%. The market's growth is fueled by the increasing consumer preference for natural flavors, the booming beverage industry, and rising health-consciousness among consumers.

What Is the Estimated Growth Rate and Market Size of the Global Citrus Concentrate Market?

The market is expected to grow to $10.46 billion by 2028, at a CAGR of 5.8%. This growth is supported by the rising demand for clean-label and organic products, increased use of citrus concentrates in functional foods, and growing consumer preference for convenience foods. Trends include innovations in cold extraction methods, energy-efficient processing technologies, and multi-channel distribution strategies.

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What Is The Primary Growth Driver Of The Citrus Concentrate Market?
The rising consumer demand for beverages is set to drive growth in the market. Beverages, encompassing a broad range of liquid consumables, including both alcoholic and non-alcoholic drinks, are seeing heightened demand due to changing consumer lifestyles and the growing preference for convenient, ready-to-drink options. Citrus concentrate is a key ingredient in many beverages, providing natural flavor and aroma that enhances the taste profiles of products like juices, sodas, and cocktails. For example, according to a report by the British Soft Drinks Association published in May 2024, total soft drink sales in the UK reached 15,343 million liters in 2023, reflecting a 2.9% increase from 2022. This surge in beverage consumption is contributing to the growth of the market.

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Which Market Leaders Are Behind the Growth of the Citrus Concentrate Market?
Major companies operating in the marker are Cargill Incorporated, Archer Daniels Midland Company, Louis Dreyfus Company, Kerry Group PLC, Givaudan SA, Firmenich SA, Döhler, Citrosuco S.A., Takasaog International Corporation, Nutraceutical Corporation, Symrise AG, Nans Products, Sunkist Growers Inc., Roha Dyechem Pvt Ltd., Citromax Flavors Inc., Citrus Systems Inc., Citrus and Allied Essences Ltd., Hunan Sunfull Bio-tech Co. Ltd., Prodalim Group, LemonConcentrate, Huisong Pharmaceuticals, Bordas S.A.S (Destilaciones Bordas Chinchurreta S.A.), Chengdu Okay Pharmaceutical Co Ltd., Tropical Fruit Processors Inc.

What Key Trends Are Impacting The Size Of The Citrus Concentrate Market?
In the market, companies are focusing on organic citrus fibers to enhance the nutritional profile of food products. Fiberstar, Inc. introduced its Citri-Fi 400 series of organic citrus fibers in January 2023, which can be used as a thickening agent and functional ingredient to improve texture and stability in a wide range of food products.

How Is The Global Citrus Concentrate Market Segmented?
The citrus concentrate market covered in this report is segmented –
1) By Source: Orange, Lemon And Lime, Grapefruit, Tangerine, Other Sources
2) By Nature: Organic, Conventional
3) By Form: Dry, Liquid
4) By Sales Channel: Business-To-Business, Business-To-Consumer
5) By End User: Food And Beverage Industry, Pharmaceuticals, Nutraceuticals, Personal Care And Cosmetics, Other End Users

Regional Insights: North America Paving the Way in the Citrus Concentrate Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Citrus Concentrate Market Definition
Citrus concentrate is a thick, concentrated form of citrus juice, made by removing most of the water content. This product is commonly used in the food and beverage industry for flavoring drinks, sauces, and dressings, offering a longer shelf life and more intense flavor than fresh juice.

The Citrus Concentrate Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Citrus Concentrate Market Report: Trends, Opportunities, Strategies, and More
The Citrus Concentrate Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into citrus concentrate market size, citrus concentrate market drivers and trends, citrus concentrate market major players, citrus concentrate competitors' revenues, citrus concentrate market positioning, and citrus concentrate market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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