The orange terpenes global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Orange Terpenes Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The orange terpenes market size has grown strongly in recent years. It will grow from $5.01 billion in 2023 to $5.43 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to expanding essential oils, expanding beverage industry, rising consumer preference for organic food, growing awareness of the benefits of natural aromatics, and increasing demand for bio-based chemicals.
The orange terpenes market size is expected to see strong growth in the next few years. It will grow to $7.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to rising use of orange terpenes in animal feed, increasing popularity of citrus-based products, growing demand for natural flavor enhancers, rising consumer preference for chemical-free products, and growing investment in research and development. Major trends in the forecast period include advancements in green extraction technologies, use of artificial intelligence (AI) and machine learning in quality control processes, nanoencapsulation technologies, the adoption of automated distillation systems, and blockchain technology.
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Scope Of Orange Terpenes Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Orange Terpenes Market Overview
Market Drivers –
The increasing shift towards organic products is expected to propel the growth of the orange terpenes market going forward. Organic products are cultivated and produced without synthetic chemicals, pesticides, or genetically modified organisms (GMOs), following strict guidelines focused on environmental care and animal well-being. The demand for organic products is primarily driven by increased consumer awareness of health and environmental concerns, leading people to prefer safer, chemical-free options. Orange terpene, a natural substance from orange peels, is used in organic products as a natural solvent and fragrance, providing an eco-friendly alternative to synthetic ingredients. For instance, in June 2022, according to a survey published by the Organic Trade Association (OTA), a US-based business association for the organic industry, organic industry sales surpassed $63 billion, with $1.4 billion (2%) in total growth over the preceding year. Additionally, organic food, which accounted for over 90% of organic product sales, experienced 2% growth, reaching $57.5 billion. Therefore, the increasing shift towards organic products is driving the development of the orange terpenes market.
Market Trends –
Major companies operating in the orange terpene market are developing tangy-flavored still water to cater to the growing consumer demand for refreshing and naturally flavored beverages. Tangy-flavored still water is a refreshing drink that infuses regular water with a vibrant, sharp taste, usually from natural fruit essences, providing flavor without any added sugars or calories. For instance, in April 2024, Hint, Inc., a US-based beverage company, launched Tangerine Hint. It is a new-flavored still water that delivers a zesty taste and is free from sugar, sweeteners, and calories. It is infused with pure fruit essences, and this refreshing drink offers an authentic tangerine flavor.
The orange terpenes market covered in this report is segmented –
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
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Regional Insights –
North America was the largest region in the orange terpenes market in 2023. The regions covered in the orange terpenes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the orange terpenes market are 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., Jiangxi Global Natural Spice Co. Ltd
Table of Contents
1. Executive Summary
2. Orange Terpenes Market Report Structure
3. Orange Terpenes Market Trends And Strategies
4. Orange Terpenes Market – Macro Economic Scenario
5. Global Orange Terpenes Market Size and Growth
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32. Global Orange Terpenes Market Competitive Benchmarking
33. Global Orange Terpenes Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Orange Terpenes Market
35. Orange Terpenes Market Future Outlook and Potential Analysis
36. Appendix
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