The global citrus seed market is forecast to expand at 6.3% CAGR between 2021 and 2031, projects ESOMAR-certified consulting firm Future Market Insights (FMI).
Citrus seed is becoming popular among the vegan population as it is plant based and has high amount of vitamin C and vitamin K, which are immunity boosters. Citrus seed also contains vitamin B12 group and magnesium which help in faster recovery from any infection.
A surge in demand is seen from cosmetic and personal care sector owing to collagen boosting properties of citrus seed extracts and increasing customer preference towards organic and natural skincare products.
Citrus seed is considered a rich source of folic acid and ascorbic acid along with no cholesterol, no sodium and no fat. Such healthy properties of extracts have made citrus seed oil extremely popular among fitness enthusiasts.
According to report published in 2016 by Food and Drug Administration, a GRAS notice was passed stating that glycerin citrus extract is safe for human consumption. Increasing participation among market players towards researching and developing new citrus extracts will further fuel the market growth.
“Research has indicated that the citrus seed oil is beneficial for cardiovascular complications and skin lubrication as it has low sugar and fat content. Increasing demand of citrus seed oil in medication and cooking purpose will give tailwinds to the demand registered in the market,” says the FMI analyst
- Brazil is anticipated to offer lucrative growth opportunities owing to availability of optimal climate conditions for citrus fruits production and increasing tourist footfall.
- Adoption of modern technology in Japan for producing high quality citrus seed oils will have positive influence on growth.
- India with more than 25% of the APEJ citrus seed market share is anticipated to emerge as a lucrative market over the assessment period on the back of increasing demand for organic liver detoxification and blood purification products.
- Rising customer inclination towards healthy eating habits will enable market expansion in the U.S. during the forecast period.
- Increasing demand for plant-based food and supplements among the population in South Africa will act as a key driver for citrus seed market growth.
According to the study by Future Market Insights, market players are working towards upgrading their production capacities by installing modern machinery and latest equipments.
To maintain their competitive edge and ensure consistent growth, companies are employing certain marketing techniques like promoting organic products, biologically safe packaging, and eco friendly packets.
Companies heavily rely on export to strengthen their global foothold. They also focus on selecting suitable distributional partners and mediums and using ecommerce to reach the consumers.
Companies with deep pockets can setup new production facilities in high performing regions to increase their revenue growth.
Some of the leading companies operating in the market are:
- Lemon Concentrate S.L.
- Citrosuco S.A.
- Louis Dreyfus Company B.V.
- Yantai North Andre Juice Co. Ltd.
- Sucocitrico Cutrale Ltd.
- Citromax Group
- Peace River Citrus Products
- Rio Grande Juice Company
- Vita-Pakt Citrus Products
- Panteley Toshev Ltd
- Tangshan Eusa Colors Int’l Group (EUSA COLORS)
- Presque Isle Wine Cellars
- Parchem Trading Ltd.