Published: Mar, 2019
Transparency Market Research (TMR) delivers key updates and insights on the global lemon extract market, in its upcoming outlook titled, 'Lemon Extract Market: Global Industry Analysis 2013-2017 and Forecast 2018-2027'. In terms of value, the global lemon extract market is anticipated to account for a CAGR of 5.3% during the period of forecast, in reference to various factors influencing the market, regarding which, TMR offers essential and accurate insights in detail.
On the basis of end use, the cosmetics and personal care segment is expected to be a prominent segment in the lemon extract market, with a significant CAGR of 7.6% during the forecast period. The increased demand for natural anti-bacterial formulations from consumers has fuelled the demand for lemon extracts in the cosmetics and personal care segment.
High concentration vitamin C in lemon extract replenishes dead skin cells and enhances healthy glowing skin, which has enabled its application in formulating products such as face washes, facial masks, moisturizers, and others.
Natural ingredients such as lemon extract are gaining greater traction across the world, due to the growing consumer preference for convenient, harmless, and natural alternatives to synthetic formulations. This has contributed to the high compound annual growth rate.
Prominent Growth of the Lemon Extract Market in Asia Pacific, Owing to Increasing Applications in Pharmaceuticals
As a developing economy with a high prevalence of poor health individuals among the population experiencing respiratory inconveniences, circulatory strain, malignancy, and others, Asia Pacific holds the most noteworthy compound annual growth rate of in the lemon extract market in contrast with other regions. Lemon extract has various medical advantages such as hostile to cancer-causing agents and its detoxifying nature, which add up to its higher utilization and increasing demand from pharmaceutical formulators, which is expected to drive a high CAGR of the lemon extract market in Asia Pacific, representing around 6.9% during the forecast period.
Specialty Retail to Offer Extraordinary Growth Opportunities to Lemon Extract Market
The trend of specialty retail formats offering specific products in sweet-smelling and flavoring extracts has been gaining traction over the years. Specialty citrus ingredients such as lemon extract are available is a wide variety and grades such as food, homecare, and personal care, and at competitive prices. Thus, specialty retail offers sufficient choices to consumers, which enhances the lucrative business of lemon extract. This is anticipated to account for a high compound annual growth rate of 7.1% during the forecast period.
The global lemon extract market report covers the current trends driving each section, and offers different evaluations, market insights, and factors relating to the potential development of the lemon extract market in various regions. As per market attractiveness, North America and Asia Pacific are comparatively more attractive regions offering more opportunities for market participants in the global lemon extract market.
Global Lemon Extract Market: Competition Dashboard
TMR has profiled some of the most prominent companies active in the global lemon extract market such as McCormick & Company, Lionel Hitchen Essential Oils Ltd., Southern Flavoring Company, Inc., Nielsen-Massey Vanillas, Inc., Döhler GmbH, Watkins Incorporated, Red Stick Spice Company, Bakto Flavors, LLC, B&G Foods, Inc., The Spice Hunter, Inc., Lochhead Manufacturing Company, Kerry Inc., Star Kay White Inc., Adams Flavors, Foods & Ingredients LLC, and others, to provide a wider view of the market.
Global Lemon Extract Market: Key Insights
Key manufacturers and other market participants in the global lemon extract are processing lemon extract in the organic form, owing to the increased health consciousness among consumers. Lemon extract is also combined with other ingredients such as zests to provide additional benefits to consumers. Industrialists and manufacturers are planning to incorporate lemon extract in animal feed as an antibiotic supplement, due to the increasing demand for natural products as compared to synthetic ones.
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