Citrus Seeds Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The citrus seeds market has seen robust growth in the past few years, is this a sign of what’s to come? According to 'Citrus Seeds Global Market Report 2024', the market is set to rise from $4.39 billion in 2023 to $4.73 billion in 2024, marking a compound annual growth rate CAGR of 7.8%. This growth is attributed to increasing demand for natural products, the traditional usage of citrus seeds in herbal medicines, heightened awareness of antioxidants, early adoption in cosmetic formulations, rising popularity of essential oils, development of organic farming, and growing evidence of the health benefits of seed extracts.
What are the growth prospects of the citrus seeds market in the future?
The market is poised for substantial growth in the upcoming years, expected to reach a market value of $6.41 billion in 2028 at a CAGR of 7.9%. This projected increase can be attributed to growing consumer preference for plant-based ingredients, the expansion of the nutraceutical industry, rising demand for sustainable and eco-friendly products, increased focus on health-boosting supplements, and the rise of clean-label products in food and cosmetics.
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What key trends and demand drivers are shaping the citrus seeds market?
One main growth driver propelling market expansion is the rising prevalence of respiratory infections. Such ailments are due to increasing air pollution, climate change, and the spread of pathogens in densely populated areas. For instance, in September 2022, according to the National Health Service, a UK-based government department, hospital admissions for children with asthma in England and Wales surged by 149% between 2021 and 2022. This increase in respiratory infections drives a corresponding growth in the citrus seeds market, due to the health benefits associated with consuming citrus seeds and products derived from them.
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What Are The Emerging Trends Shaping The Growth Of The Citrus Seeds Market?
The citrus seeds market landscape is composed of various key players who are developing innovative products to maintain their competitive edge. For instance, a key trend observed is the development of citrus fibers that offer functional benefits, such as improved texture and stability in food products. In January 2023, the US-based plant-based food ingredient manufacturing company, Fiberstar Inc, launched a new line of Citri-Fi 400 citrus fiber. This organic series offers superb water-holding and emulsification properties for a smooth mouthfeel, thereby enhancing the texture, stability, and nutritional value of food and beverage products.
How is the citrus seeds market segmented?
The citrus seeds market is segmented as follows:
1 By Product Type: Orange Seeds, Lemon Seeds, Grapefruit Seeds, Mandarin Seeds, Others Products
2 By Nature: Organic, Conventional
3 By Sales Channel: Direct Or Business To Business, Modern Trade, Specialty Store, Online Retailers, Other Sales Channels
4 By Application: Food And Beverages, Pharmaceuticals, Cosmetics, Animal Feed, Other Applications
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Citrus Seeds Global Market Report 2024
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