Report : Asia Pacific Lemon Oil and Lemon Extracts Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Lemon Oil and Lemon Extracts), Category (Organic and Conventional), and Application (Food and Beverages, Cosmetics and Personal Care, Household Cleaning Products, Aromatherapy, and Others)
At 4.9% CAGR, the Asia Pacific Lemon Oil and Lemon Extracts Market is speculated to be worth US$ 593.60 million by 2028, says The Business Market Insights
According to the Business Market Insights’ research, the Asia Pacific lemon oil and lemon extracts market was valued at US$ 444.88 million in 2022 and is expected to reach US$ 593.60 million by 2028, registering a CAGR of 4.9% from 2022 to 2028. Surging demand for organic products and increasing adoption of aromatherapy are the critical factors attributed to the Asia Pacific lemon oil and lemon extracts market expansion.
In recent years, health trends are evolving rapidly, with many consumers choosing organic and clean-labeled products over conventional products. With the increasing number of people suffering from obesity, diabetes, heart diseases, high blood pressure, and skin disorders and rising health awareness among people, the demand for certified organic products is increasing. People perceive organic products to be healthier than conventional ones because they are grown following stringent farming practices that avoid using chemical fertilizers and pesticides, genetically modified organisms (GMOs), growth hormones, and antibiotics. This factor is significantly driving the demand for organic products. Moreover, the organic trend is not only confined to food and beverages. Thus, the thriving organic industry provides lucrative opportunities to the manufacturers of lemon oil and extracts as these ingredients are widely used in food products, beverages, personal care products, cosmetics, and home care products. Lemon oil and lemon extracts manufacturers are focusing on acquiring organic certification for their products to meet the market demand. They are launching certified organic products to cater to emerging consumer requirements and to gain a competitive position across the organic sector. Such product launches are expected to open new opportunities in the Asia Pacific lemon oil and lemon extracts market in the coming years.
On the contrary, fluctuating raw material prices hurdles the growth of Asia Pacific lemon oil and lemon extracts market.
Based on type, the Asia Pacific lemon oil and lemon extracts market is segmented into lemon oil and lemon extracts. The lemon oil segment held 61.5% market share in 2022, amassing US$ 273.63 million. It is projected to garner US$ 358.42 million by 2028 to expand at 4.6% CAGR during 2022–2028.
Based on category, the Asia Pacific lemon oil and lemon extracts market is segmented into organic and conventional. The conventional segment held 85.8% market share in 2022, amassing US$ 381.51 million. It is projected to garner US$ 499.67 million by 2028 to expand at 4.6% CAGR during 2022–2028.
Based on application, the Asia Pacific oil and lemon extracts market is segmented into food and beverages, cosmetics and personal care, household cleaning products, aromatherapy, and others. The food and beverages segment held 50.8% market share in 2022, amassing US$ 226.08 million. It is projected to garner US$ 293.73 million by 2028 to expand at 4.5% CAGR during 2022–2028.
Based on country, the Asia Pacific lemon oil and lemon extracts market has been categorized into China, India, Australia, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that Rest of Asia Pacific captured 38.7% market share in 2022. It was assessed at US$ 171.99 million in 2022 and is likely to hit US$ 223.43 million by 2028, exhibiting a CAGR of 4.5% during the forecast period.
Key players dominating the Asia Pacific lemon oil and lemon extracts market are Citromax Group Inc, Dohler GmbH, Jedwards International Inc, Kerry Group Plc, Lemonconcentrate SLU, and Royal Aroma Fragrances Inc among others.
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