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Citrus powder mkt growth driven by inclination towards natural products
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Monday, 04 November, 2019, 16 : 00 PM [IST]
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The sales of citrus powder is expected grow at a value compound annual growth rate (CAGR) of about seven per cent to reach approximately $6 billion in 2019, primarily influenced by the recent reforms coming into fore in the global food sector. These were the findings of a new study, which added that the consumer proclivity for using chemical-free products with natural ingredients will continue to provide a fillip to sales of citrus powder in 2019 and beyond.
In recent years, increasing focus towards cleaning and sanitisation has been compelling manufacturers to identify and leverage white spaces in the application of citrus powder, especially in personal hygiene products.
As demand for natural ingredients and clean labels continue to gain prominence, citrus powder manufacturers are continuously exploring the untapped potential of products. The study found that significant growth of the F&B (food and beverage) and cosmetic industry will continue to work to the advantage of the market players.
The idea of adding citrus powder to different food and beverages products is helping consumers to discover and identify new and refreshing flavours. Apart, from the taste, many consumers are using citrus powder for its nutritional and health benefits.
Moreover, the addition of citrus powder to salads, chicken and soups has been a common practice being followed by East Asian consumers for its flavour-enhancing and medicinal properties. It further helps elevate the nutritional property of food.
Citrus powder has been garnering significant traction as a viable ingredient in dietary supplements, as it is enriched with Vitamin C, phosphorus, minerals and various other health-boosting nutrition. Studies have also shown that citrus powder help support heart health, prevent kidney stones, and in weight management.
Opportunities abound for market players in developing countries
Being the largest exporters of citrus fruits, the citrus powder market in countries such as Spain, South Africa, China, the United States and Mexico has reached its maturity.
According to study, growth opportunities for the citrus powder market players are picking pace in South Asia and Oceania, owing to profound growth of end-use industries, including food and beverages, cosmetics and personal care, and others.
A sprung in the number of working population, greater awareness of natural ingredients, rapid inclination towards personal grooming, and increased disposable income are further likely to aid in the expansion of citrus powder market in developing countries in South Asia.
The report’s business intelligence also underlines groundbreaking insights into the competitive scenario of citrus powder market along with highlights of the manufacturers’ differential strategies.
Key players in the citrus powder market will continue to align with global sustainability drive by including organic offerings in their existing portfolios, which is likely to help them enhance customer confidence.
For instance, LemonConcentrate S L – a world-class company that belongs to the fruit concentrate sector - is facing the growing competition of their peers by opening an organic way of farming along with the conventional one.
The company is also introducing recyclable packaging materials and providing versatile packaging on the basis of different quantities of citrus powder. Significant improvements in packaging is further likely to increase the shelf life of citrus powder, which has been a major concern among the manufacturers.
In May 2019, Givaudan SA, the world’s largest company in flavour and fragrance industries has expanded their business by acquiring Golden Frog Company, which is a Vietnamese flavour company, to increase its regional and local presence.
Following the acquisition, the company introduced a range exciting flavours, and the result is likely to lead to expanded customer base.
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