Limonene: Market outlook
Limonene is a colorless liquid hydrocarbon with lemons like fragrance and present in the essential oil of citrus fruits such as lemon essential oil, orange essential oil, and others. In the global food and beverage market, limonene is gaining the demand owing to its multi-faceted applications in pharmaceuticals, cosmetics and food, and beverage industry. Limonene is majorly used as flavor and fragrance additive in end-use industry. In the pharmaceutical industry, limonene is gaining demand due to its multiple benefits in bone health. Limonene is found to be helpful in curing bone-related diseases and also in weight management. In addition, limonene is under clinical investigation to treat breast cancer. On the other hand, the increasing demand for biodegradable substance in paints and coatings is proving as the best opportunity for limonene as a replacement for petroleum-based solvents. In the global limonene market, Europe and North America account for major production and consumption of limonene. With the increasing demand of limonene in various industry, it can be anticipated that there would be higher return for the investor over the forecast period.
Rising Demand for Limonene Flavor and Fragrance Industry
Due to its versatile application, the demand of limonene is increasing in the household and personal care products such as an aromatic cleaning agent for kitchen equipment. In the global terpene market, the demand of limonene is increasing at a high growth rate in homecare, food and beverage and pharmaceutical industry. The demand is also increasing as the replacement of petroleum-based paints owing to its biodegradability and low VOC emission. In the food and beverage industry, flavor inspiration is the major factor which is driving the limonene as a food additive to enhance the flavor and fragrance of the food products. Limonene has citrus aroma owing to the fact that it is extracted from the peels of citrus fruit mainly oranges. Meanwhile, in the food and beverage industry, many companies are investing in research and development to add limonene in their food products where it is not being used currently. Recently, researchers have tested for its function as a crystallizing agent in chocolates. On the other hand fluctuation in the production of raw material is restraining the limonene market. In addition, to overcome the supply constraint during the offseason of orange, many manufacturers are emphasizing on to develop alternatives of limonene, which is restraining the global limonene market.
Global Limonene: Market Segmentation
On the basis of source, the global limonene market has been segmented as-
On the basis of grade, the global limonene market has been segmented as-
- Food grade
- Pharmaceutical Grade
- Industrial Grade
- Fragrance Grade
On the basis of the end user, the global limonene market has been segmented as-
- Food & Beverage Processing
- Dietary supplements
- Home Care & Personal Care
Opportunities for Market Participants:
The upsurge in the demand for natural and healthy ingredients in the food and beverage is paving the opportunity for the robust growth of limonene market. The aggressive marketing strategy by the key players involved in the limonene market and brand improvement by the regional manufacturers is helpful in gaining the attention of customers towards limonene and limonene products. Apart from all the factors mentioned above, increasing awareness among the geriatric population about the limonene is expected in boosting the demand for limonene products.
Global Limonene: Key Players
Some of the key players of limonene market are Astra Chemicals, Mentha & Allied Products Private Limited, Shree Bankey Behari Lal Aromatics, Banner Chemicals Limited Recochem Inc., Lemon Concentrate S.L., Interstate Commodities Corp., Florida Chemical Company, Citrus Company of Belize Ltd. and Spectrum Chemical Mfg. Corp. amongst others.
Global Limonene Market: A Regional Outlook:-
North America and Europe account for the highest production and consumption of limonene and companies like Astra Chemicals, Mentha & Allied Products Private Limited, are situated there, it is expected anticipated that the demand of the limonene will increase in the forecast period. In addition, Asia Pacific is anticipated to witness robust growth in the coming future. On the other hand, with increasing awareness among customers, it is expected that the demand for limonene market is expected to grow over the forecast period.
The Limonene market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the Limonene market, including but not limited to: regional markets, source, grade and end use.
The study is a source of reliable data on:
- Limonene market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The limonene market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the limonene market report projects the attractiveness of each major segment over the forecast period.
Highlights of the Limonene market report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the limonene market
- Recommendations to companies for strengthening their foothold in the limonene market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.