Orange Extract Market Size

Orange Extract Market Size

Orange Extract Market size was valued at USD 624.8 million in 2023 and is anticipated to register a CAGR of over 6% between 2024 and 2032, due to increasing consumer interest in natural flavors, rising demand for functional ingredients, and the versatility of orange extract in various industries. The market had been witnessing growth driven by the food and beverage sector, particularly in the production of juices, bakery products, confectionery, and alcoholic beverages.

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Additionally, the cosmetic and personal care industry had also shown a growing inclination towards using orange extract in skincare, haircare, and aromatherapy products due to its perceived benefits and pleasant fragrance. Factors such as the rising trend of clean-label products and the emphasis on natural ingredients were contributing to the surge in demand for orange extract.

Companies had been focusing on product innovation, diversification, and geographical expansions to capture a larger market share. However, challenges such as fluctuations in raw material prices, variations in orange harvests, and regulatory issues related to quality standards and certifications were notable factors affecting market growth. The market outlook appeared optimistic, with the potential for continued expansion, driven by evolving consumer preferences and the ongoing pursuit of healthier and more natural alternatives across various industries.