Rockville, MD -- (SBWIRE) -- 04/06/2019 -- Orange Peel Extract Market Insights
In the present market scenario, Food and beverage industry is witnessing a steady growth. Orange peel extracts find its application in numerous products due to its versatile nature which aids to the growing demand for orange peel extract in the market. Orange peel extract is a rich source of vitamin c which makes it highly favorable for medicinal purposes and makes it a significant ingredient in the pharmaceutical industry. It also has antioxidant properties which render several health benefits including relief from heartburn prevention of many chronic diseases such as cancer, these properties are expected to encourage the demand for orange peel extract in the global market. In addition to that, the growing demand for natural flavoring agents and functional food products also contribute to accelerating the growth in demand for orange peel extract.
The increasing demand for orange peel extract in the cosmetics industry owing to its cleansing properties and its ability to fight acne is also one of the key factors in driving the global orange peel extract demand. Increasing health consciousness is leading the consumers to use natural ingredient based products rather than synthetic ingredients which is again a growth driver for the global orange peel extract market. Abundance in production leads to easy availability which leads to low cost, making orange peel extract a preferable choice for raw material for the manufacturers and supply side participants. This factor is also a major contributor to fuel the demand of the orange peel extract in the global market over the forecast period.
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Growth of food and beverage industry and increasing demand for natural flavouring agents is driving the Orange peel extract Market:
Recent trends in wellness and health are major growth drivers in the orange peel extract market. Orange peel extract has many medicinal properties which makes it a suitable ingredient for various pharmaceutical application, this leads to an increase in the demand of the orange peel extract. Due to its high production, the price of the orange peel extract is relatively low and this plays a major role in high-profit-margin, which attracts the supply side participants to enter the orange peel extract market. Owing to its versatile nature orange peel extract finds its application in a wide range of food products and increasing consumption of food and beverages products is driving the growth of orange peel extract in the market. The shift of consumer preference from synthetic ingredients to natural based ingredient is escalating the demand for orange peel extract in the market. Mexico and Argentina are the largest producers of orange peel extract and are likely to witness healthy growth rates over the forecast period.
Global Orange peel extract Market: Market Participants:
The key market participants identified across the value chain of the global Orange peel extract market are Plant Extracts International Inc., Beacon Commodities, Hunan Nutramax Inc., Natural Bitter Orange Peel Extract, RUNHERB INC., MB-Holding GmbH & Co.KG., and Denk Ingredients are among others.
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Opportunities for Orange peel extract Market participants:
With the increase in the per capita disposable income, the spending on personal care products has also increased and this is a major growth driver for the cosmetics industry and consequently for the orange peel extract in the market. The high-profit margin in the orange peel extract market lures numerous market players into this market, sensing a lucrative growth and fuelling market opportunities. Increasing population in the Asia-Pacific region is leading to increased consumption of functional food and beverages which in turn boost the demand for orange peel extracts in the market. The medicinal properties of orange peel extract make it fit for use in curing many health problems and finds its application in the pharmaceutical industry. The hike in the demand for natural flavoring industry is one of the major growth driver for the orange peel extract market over the forecast period.
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