Orange extract is made from orange peel oil, after adding an adequate measure of alcohol. It goes about as a seasoning agent extracted by the orange peel processing. These extracts are generally utilized in the personal care, cosmetics, and food & beverages sectors. The global orange extract market is likely to show huge development within the span of coming years attributable to the developing product applications in the food and drink industry. Besides, the rising health-conscious people have also prompted a growth in the market.
The gradual and significant growth in the food and beverage sector, supported by the different utilizations of orange extract helps in bolstering the demand in the global orange extract market. Aside from the food business, orange extract additionally discovers its application in the personal care and cosmetic sectors. The nutritional benefits of the orange extract help in keeping up the health of our skin, making it perfect to be utilized for more clear skin, against wrinkle treatment, and for the treatment of skin inflammation. The surge in spending ability on personal care products is foreseen to bring about more popularity in the global orange extract market. But, as the process of extraction is a labor-intensive one also with a huge amount of requirement for raw material is expected to hinder the growth in the orange extract market.
A rising number of people are focusing more on personal care and health which makes them opt for natural products over the ones with synthetic agents, which is likely to be witnessed as another market growth contributor. Inferable from the medicinal properties of orange extract, it is highly preferred in antiseptic, sedation, anti-inflammatory, anti-spasmodic, and anti-depressant products, which is again a fueling factor for the global orange extract market.
The global orange extract market is broadly divided into form, application, nature, distribution channel, and region. Based on form, the market is bifurcated into liquid and powder. In terms of nature, the global market is fragmented into conventional and organic. The application segment is divided into cosmetics, pharmaceuticals, personal care, and food & beverages. On the basis of distribution channel, the global orange extract market is segregated into specialty retail, e-commerce, business-to-business, supermarkets, and others.
Geographically, North America is expected to lead the global orange extract market within the forecast period. The market is foreseen to hold a major share attributed to the increased usage of orange extracts in the food industry, coupled with the high demand in the pharmaceutical sector as well. The region is trailed by the Asia Pacific, due to rising demand for the product, especially in the developing countries, and the emergence of several food processing firms in the region.
Southern Flavoring Company, McCormick & Company, LorAnn Oils, Nielsen-Massey Vanillas, Cook Flavoring, and Döhler are some of the leading players in the global orange extract market. Among these, LorAnn Oils has expanded its business in South Lancing a while ago. This is aimed at expanding its market reach and become stronger among its competitors.