The lemon extract market is expected to witness robust growth in the near future, thanks to rising demand for the food and beverage sector in key regions like North America. Moreover, the rising demand for lemon extract is expected to revolve around one of the bi-products of lemon extracts, pectin.
The lemon extract market grew at a notable 5.3% CAGR during 2013-2017. Moreover, the market is expected to witness even prominent growth during 2018-2027 as it grows at a significant 7.6% CAGR. Apart from its application in the food industry, the medicinal demand for lemon extract will also remain high in applications like anti-bacterial formulating during the forecast period. However, the demand for food processing remains most promising as it is expected to occupy a dominant share of 41.0% of the total revenues of lemon extract market.
Bakery Products Promise A Sweet Tooth for Growth
Lemon extract is used for a wide variety of bakery products. Among these, the highly soluble pectin varieties with low percentage use in dairy products are highly in demand. The growing demand for these products in North America, Europe, and Asia, and popular applications of pectin as gel materials in jams, and various daily products will create new channels of opportunities. Currently, these products are witnessing a major growth in Scandinavia, wherein new varieties of bakery products, and jams are replacing conventional sweeteners, and extracts with lemon products. Their growing popularity, and widely known cost-effective nature, will drive robust growth for the lemon extract market in near future.
High Applications for Medicines Promises New Opportunities for Growth
Apart from its conventional applications for food processing, pectin also promises new applications in the pharmaceutical industry. The fiber is increasingly used for various therapeutical treatments for chronic illnesses like cancer. Among these, the most common types of cancer including colon cancer, and prostate cancer therapies also use pectin. These therapies use Modified Citrus Pectin or MCP, which is easier to absorb for the body. Recent studies have shown that the fiber is ideal for treating common illnesses like diarrhea, and embed some anti-cancer properties as well. The growth of various cancers, and growing demand for lemon extracts for its medicinal value will drive tremendous growth for the lemon extract market in the near future.
The lemon extract market report is segmented on the following basis.
Lemon Extract Market (Nature - Organic, Conventional; End Use - Food & Beverages, Pharmaceuticals, Aromatherapy, Cosmetics & Personal Care, Households; Distribution Channel - B2B, Hypermarkets/Supermarkets, Specialty Retail, E-commerce, Other Retail Formats) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2027
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