growing demand for limonene in cosmetics industry is driving the Limonene Market
Technavio analyzes that the Limonene Market is expected to grow at a CAGR of 3.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 101.5 million.There are various factors that contribute to the growth of the market. The limonene market is experiencing significant growth due to the increasing demand for this compound in the cosmetics industry. Limonene, a major component of citrus oils, is widely used in perfumes, cosmetics, and personal care products for its pleasant aroma and skin-benefiting properties. Its ability to enhance the solubility and stability of essential oils makes it an indispensable ingredient in various cosmetic formulations. As consumer preference shifts towards natural and organic products, the market for limonene is expected to expand further.
In the business realm, the limonene market is experiencing significant growth, particularly within the food and beverage sector. This is due to its function as a food additive and flavor enhancer, with limonene being a naturally occurring compound found in citrus fruits such as orange, mandarin, grapefruit, and lemon. The food and beverage industry's expansion, driven by new product development and the increasing demand for organic and health-conscious options, is a primary factor fueling this market growth. Limonene, as a flavoring agent, poses no health risks as it is generally recognized as safe for consumption. Therefore, its dietary exposure does not present any adverse health effects. The food and beverage industry's continuous expansion, fueled by the growing preference for organic foods among elderly populations, health-conscious individuals, and concerned parents, is a significant driver for the limonene market. Additionally, limonene is utilized in various industries, including pharmaceuticals and industrial applications, further increasing its market potential.
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Limonene Market Segmentation
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The Limonene market encompasses natural extracts derived from citrus fruits like Orange, Mandarin, Grapefruit, and Lemon. These extracts, rich in terpenes, serve as flavoring agents and food additives. They offer antioxidant and antimicrobial properties, making them suitable for use in cosmetics, cleaning products, degreasers, and stain removers. Dlimonene, a byproduct of Limonene, is also in demand. The market caters to Food Grade, Pharmaceutical Grade, Industrial Grade, Fragrance Grade, and various industries such as Food Products, Furnishing Care Products, and Wood, Marine, and Personal Care. Citrus Peel Extracts are natural ingredients in high demand due to health awareness and the shift towards plant-based products.
The global packaged foods and meats market encompasses businesses engaged in the processing and packaging of foods and meats to ensure food safety and extend shelf life. According to Technavio, the market's size is determined by the consolidated revenue of the participating vendors. This market excludes food processing equipment manufacturers and producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. The market's expansion will be fueled by the health benefits linked to the consumption of minimally processed foods, such as vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C. Additionally, the increasing popularity of plant-based products, the use of limonene as a natural extract for its antioxidant and antimicrobial properties in cosmetics, food additives, and flavoring agents, and the growing trend towards terpene-infused foods will further propel market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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