Report : South America 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 3.1% CAGR, the South America Lemon Oil and Lemon Extracts Market is speculated to be worth US$ 120.19 million by 2028, says The Business Market Insights
According to the Business Market Insights’ research, the South America lemon oil and lemon extracts market was valued at US$ 100.12 million in 2022 and is expected to reach US$ 120.19 million by 2028, registering a CAGR of 3.1% from 2022 to 2028. Rise in demand for natural ingredients and benefits of lemon oil and lemon extracts in skin care products are the critical factors attributed to the South America lemon oil and lemon extracts market expansion.
In the past few years, consumers have become highly concerned about their health and overall well-being. They are paying more attention to product labels and preferring products that claim to be natural and chemical-free. Consumers believe that natural ingredients are safer and better for their health than their conventional counterparts. Moreover, the growing influence of social media and celebrities on consumer preferences is creating a strong demand for products with natural ingredients. In the food & beverages industry, manufacturers are replacing synthetic food additives such as colors, flavors, stabilizers, and preservatives with natural ingredients to meet the changing customer requirements. Due to the growing concerns about ingredient safety and potential health consequences, natural food ingredients are receiving more attention. Lemon oil and lemon extracts are used as natural flavoring agents in various food and beverages such as baked products, confections, frozen desserts, ready-to-drink beverages, energy drinks, carbonated beverages, flavored waters, and snacks. In personal care products such as moisturizers, depigmentation and antiaging creams, and face serums, lemon oil and extracts are used as natural lightening and healing ingredients. Thus, increasing utilization of lemon oil and extracts in food and beverages and personal care products and surging demand for natural ingredients are driving the South America lemon oil and lemon extracts market.
On the contrary, fluctuating raw material prices hurdles the growth of South America lemon oil and lemon extracts market
Based on type, the South America lemon oil and lemon extracts market is segmented into lemon oil and lemon extracts. The lemon oil segment held 59.8% market share in 2022, amassing US$ 59.87 million. It is projected to garner US$ 70.50 million by 2028 to expand at 2.8% CAGR during 2022–2028.
Based on category, the South America lemon oil and lemon extracts market is segmented into organic and conventional. The conventional segment held 83.4% market share in 2022, amassing US$ 83.48 million. It is projected to garner US$ 98.42 million by 2028 to expand at 2.8% CAGR during 2022–2028.
Based on application, the South America lemon 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 55.6% market share in 2022, amassing US$ 55.69 million. It is projected to garner US$ 65.56 million by 2028 to expand at 2.8% CAGR during 2022–2028.
Based on country, the South America lemon oil and lemon extracts market has been categorized into Brazil, Argentina, and the Rest of South America. Our regional analysis states that the Rest of South America captured 40.0% market share in 2022. It was assessed at US$ 40.00 million in 2022 and is likely to hit US$ 46.96 million by 2028, exhibiting a CAGR of 2.7% during the forecast period.
Key players dominating the South America 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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