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LONDON, GREATER LONDON, UNITED KINGDOM, December 12, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
The Orange Terpenes Global Market is poised for significant growth, projected to reach $5.43 billion in 2024 from $5.01 billion in 2023, growing at a compound annual growth rate CAGR of 8.4%. Key factors driving this growth include the expansion of essential oils and the beverage industry, rising consumer preference for organic food, increased awareness of the benefits of natural aromatics, and growing demand for bio-based chemicals.
Looking into future growth prospects, the orange terpenes market is set to further expand, reaching an impressive $7.52 billion by 2028, marking a CAGR of 8.5%. This bullish forecast is mainly attributed to the rising use of orange terpenes in animal feed, surging popularity of citrus-based products, increased demand for natural flavor enhancers, growing customer preference for chemical-free products, and significant investment in research and development. Major trends expected to influence the market include advancements in green extraction technologies, integration of artificial intelligence AI and machine learning in quality control processes, developments in nanoencapsulation technologies, the adoption of automated distillation systems, and the application of blockchain technology.
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An important growth driver of the orange terpenes market is the increasing shift towards organic products. Organic products, cultivated and produced without synthetic chemicals, pesticides, or genetically modified organisms GMOs, are enjoying surging demand due to increased consumer awareness of health and environmental concerns, prompting people to prefer safer, chemical-free options. Orange terpene, a natural substance from orange peels, features prominently in organic products, acting as a natural solvent and fragrance, offering an eco-friendly alternative to synthetic options.
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In this thriving market space, key industry players include Archer-Daniels-Midland Company, Univar Solutions Inc., Firmenich SA, Symrise AG, Döhler Group SE, Sigma-Aldrich Corp, Citrosuco S.A., Robertet SA, Berjé Inc., Lebermuth Company, Ernesto Ventós S.A., Vigon International Inc., Ultra International B.V., Astrra Chemicals, Florida Chemical Company, Lemonconcentrate SLU, De Monchy Aromatics Limited, Graham Chemical Corporation, Pell Wall, Himalaya Terpenes Pvt Ltd., and Jiangxi Global Natural Spice Co. Ltd. These companies are pioneering innovative use cases for orange terpenes, bringing new vibrancy to the market.
The market is divided into various segments:
1 By Product Type: Alpha-Pinene, Beta-Pinene, Limonene, Myrcene, Other Product Types
2 By Form: Liquid, Powder
3 By Source: Sweet Orange, Bitter Orange, Tangerine, Other Sources
4 By Extraction Method: Steam Distillation, Cold Press Extraction, Solvent Extraction, Supercritical Fluid Extraction
5 By End-Use Industry: Food And Beverage, Personal Care And Cosmetics, Household Care, Pharmaceuticals, Industrial Cleaning, Other End-Use Industries
The largest regional market for orange terpenes in 2023 was North America. This report also covers other important regions, including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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