Global Limonene Market - Segmented by Source (Lemons, Oranges, Mandarin, Lime, Grapefruit) Applications (Pharmaceuticals, Food& beverages, Cosmetic, Chemical Industry) and Geography - Growth, Trends and Forecasts (2022 - 2030)
The global limonene market is expected to register a CAGR of 4.2% during the forecast period, 2018 to 2023. Growing demand for bio-based solvents and its application usage act as the key factors driving the demand for limonene in the global market. The increasing use of Limonene in supplement followed by beverage is expected to drive the growth of limonene in the global market. Increasing application from end-user industries like automobile, aerospace, general manufacturing, wood and marine is propelling the demand for limonene over the forecast period. Rapid transformation in food processing industry towards incorporating natural ingredients in products will provide substantial boost to the food & beverage limonene market.
Growing Demand for Green and Bio-Based Solvents
Increasing adoption of natural ingredients and green chemicals in the production of consumables is one of the major factors driving the market for limonene globally. Limonene is the essential oils present in citrus fruit peels; it is mainly derived from the oil and peels of citrus fruits. Being a plant-based derived solvent, it has minimal environmental and health impacts. This makes an attractive substitute for traditional monomers. Limonene is widely used as a flavor and fragrance. It is also generally recognized as safe in food application by the food and drug administration. This will upsurge the demand for limonene over the forecast periods. Limonene oil is used for therapeutic and aromatic properties which result in the growing preference for convenient, harmless, and natural alternatives to traditional allopathic solutions. Growing demand for aerosol propellant and ozone-depleting chemicals usage is likely to drive the limonene market growth trend in the forecasted period. It is widely used in food & beverage products, medicine and personal care products due its pleasant aroma and fragrance.
Limonene availability and its price in the market tends to fluctuate which decreases the profit margins; this is likely to challenge industry growth. Due to unfavorable weather conditions and lower yields, it creates the supply-demand deficit which inhibiting the growth of the limonene market.
The Office of Dietary Supplements (ODS) of the National Institutes of Health revealed d-limonene as components or constituents in foods dietary supplements, to meet basic human nutritional needs. This supplement is used as prevention and treatment of breast cancer.
The major segmentation in the report includes the market estimates by source – Lemons, Oranges, Mandarin, Lime, Grape fruit. By applications– Pharmaceuticals, Food& beverages, Cosmetic, Chemical Industry. The food& beverages segment dominated the limonene market by application. Limonene is used for its aromatic properties and act as a stabilizing agent in carbonated beverages fruit juices, ice creams, and sweets.
North America maintains the leading position in the global limonene market. The US is the largest producer of citrus fruit in the world. Limonene and its derived products are used in various personal care products. Increase in demand for natural ingredients in cosmetics and preferences towards bio-degradable product will propel demand of limonene in the coming years. Asia-Pacific is expected to grow at the highest CAGR during the forecast period (2018-2023)
Key Developments in the Limonene Market
Nov 2017: Peace Naturals, has launched three limited edition product Diesel, Sensi Star, Clearview Kush which contain limonene in it.
Jan 2018: Elevance Renewable Sciences, Inc, expands its product line with Elevance Clean™ 1000 is a high-performing, bio-based cleaning ingredient which is easily blended into d-limonene formulas. These are used in asphalt/tar removal and degreasing applications.
Limonene Competitive Landscape
The key brands are embarking on mergers and acquisitions and new product development as some of their key strategies to achieve consolidation and optimize their offerings respectively. Major players in the market are Florida Chemical Company, Inc., Arora Aromatics, Bell Chem Corp., Interstate Commodities Corp., Sucorrico, Weleda Australia Pty Ltd., Citrus Oleo, Treatt plc.Lemonconcentrate and Banner Chemicals Limited among many other.
Foreverest Resources Ltd. is one of the leading producer of naturally sourced dipentene that is being used by the pharmaceutical segment as a gallstone solubilizer, to treat one of the most common gastrointestinal disorders.
Reasons to Purchase the Limonene Market Report
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
3-month analyst supports, along with the Market Estimates sheet in excel
Customization of the Limonene Market Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Growing Demand for Green and Bio-Based Solvents
Increasing adoption of natural ingredients and green chemicals in the production of consumables is one of the major factors driving the market for limonene globally. Limonene is the essential oils present in citrus fruit peels; it is mainly derived from the oil and peels of citrus fruits. Being a plant-based derived solvent, it has minimal environmental and health impacts. This makes an attractive substitute for traditional monomers. Limonene is widely used as a flavor and fragrance. It is also generally recognized as safe in food application by the food and drug administration. This will upsurge the demand for limonene over the forecast periods. Limonene oil is used for therapeutic and aromatic properties which result in the growing preference for convenient, harmless, and natural alternatives to traditional allopathic solutions. Growing demand for aerosol propellant and ozone-depleting chemicals usage is likely to drive the limonene market growth trend in the forecasted period. It is widely used in food & beverage products, medicine and personal care products due its pleasant aroma and fragrance.
Limonene availability and its price in the market tends to fluctuate which decreases the profit margins; this is likely to challenge industry growth. Due to unfavorable weather conditions and lower yields, it creates the supply-demand deficit which inhibiting the growth of the limonene market.
The Office of Dietary Supplements (ODS) of the National Institutes of Health revealed d-limonene as components or constituents in foods dietary supplements, to meet basic human nutritional needs. This supplement is used as prevention and treatment of breast cancer.
The major segmentation in the report includes the market estimates by source – Lemons, Oranges, Mandarin, Lime, Grape fruit. By applications– Pharmaceuticals, Food& beverages, Cosmetic, Chemical Industry. The food& beverages segment dominated the limonene market by application. Limonene is used for its aromatic properties and act as a stabilizing agent in carbonated beverages fruit juices, ice creams, and sweets.
North America maintains the leading position in the global limonene market. The US is the largest producer of citrus fruit in the world. Limonene and its derived products are used in various personal care products. Increase in demand for natural ingredients in cosmetics and preferences towards bio-degradable product will propel demand of limonene in the coming years. Asia-Pacific is expected to grow at the highest CAGR during the forecast period (2018-2023)
Key Developments in the Limonene Market
Nov 2017: Peace Naturals, has launched three limited edition product Diesel, Sensi Star, Clearview Kush which contain limonene in it.
Jan 2018: Elevance Renewable Sciences, Inc, expands its product line with Elevance Clean™ 1000 is a high-performing, bio-based cleaning ingredient which is easily blended into d-limonene formulas. These are used in asphalt/tar removal and degreasing applications.
Limonene Competitive Landscape
The key brands are embarking on mergers and acquisitions and new product development as some of their key strategies to achieve consolidation and optimize their offerings respectively. Major players in the market are Florida Chemical Company, Inc., Arora Aromatics, Bell Chem Corp., Interstate Commodities Corp., Sucorrico, Weleda Australia Pty Ltd., Citrus Oleo, Treatt plc.Lemonconcentrate and Banner Chemicals Limited among many other.
Foreverest Resources Ltd. is one of the leading producer of naturally sourced dipentene that is being used by the pharmaceutical segment as a gallstone solubilizer, to treat one of the most common gastrointestinal disorders.
Reasons to Purchase the Limonene Market Report
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
3-month analyst supports, along with the Market Estimates sheet in excel
Customization of the Limonene Market Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
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