PUBLISHER: The Business Research Company | PRODUCT CODE: 1619798
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619798
Orange terpenes are natural compounds found in the peel of oranges, primarily consisting of d-limonene. These belong to the terpene class, which includes aromatic compounds present in various plants. Due to its pleasant citrus fragrance and versatile chemical properties, orange terpene is widely used across several industries.
The main types of orange terpenes include alpha-pinene, beta-pinene, limonene, myrcene, and others. Alpha-pinene is a terpene with a fresh, pine-like aroma, commonly found in coniferous trees and some citrus fruits. These terpenes are available in various forms, such as liquids, powders, and extracts sourced from sweet orange, bitter orange, tangerine, and other citrus fruits. They are produced through multiple extraction methods, including steam distillation, cold press extraction, solvent extraction, and supercritical fluid extraction. These terpenes serve a variety of industries, including food and beverage, personal care and cosmetics, household care, pharmaceuticals, industrial cleaning, and more.
The orange terpenes market research report is one of a series of new reports from The Business Research Company that provides orange terpenes market statistics, including orange terpenes industry global market size, regional shares, competitors with a orange terpenes market share, detailed orange terpenes market segments, market trends and opportunities, and any further data you may need to thrive in the orange terpenes industry. This orange terpenes market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The orange terpenes market size has grown strongly in recent years. It will grow from $5.01 billion in 2023 to $5.43 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth during the historic period can be attributed to the expansion of the essential oils and beverage industries, a rising consumer preference for organic food, increased awareness of the benefits of natural aromatics, and growing demand for bio-based chemicals.
The orange terpenes market size is expected to see strong growth in the next few years. It will grow to $7.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The anticipated growth in the forecast period can be attributed to the increasing use of orange terpenes in animal feed, the growing popularity of citrus-based products, rising demand for natural flavor enhancers, a heightened consumer preference for chemical-free products, and increased investment in research and development. Key trends during this period include advancements in green extraction technologies, the use of artificial intelligence (AI) and machine learning in quality control processes, the development of nanoencapsulation technologies, the adoption of automated distillation systems, and the implementation of blockchain technology.
The growing preference for organic products is anticipated to drive the expansion of the orange terpenes market in the future. Organic products are grown and produced without the use of synthetic chemicals, pesticides, or genetically modified organisms (GMOs), adhering to strict environmental and animal welfare guidelines. This shift towards organic products is largely fueled by increasing consumer awareness regarding health and environmental issues, leading to a preference for safer, chemical-free alternatives. Orange terpene, derived from orange peels, is used in organic products as a natural solvent and fragrance, offering an eco-friendly alternative to synthetic ingredients. For example, a survey published by the Organic Trade Association (OTA) in June 2022 revealed that sales in the organic industry had exceeded $63 billion, marking a $1.4 billion (2%) increase from the previous year. Organic food, which represented over 90% of these sales, saw a 2% rise, reaching $57.5 billion. This trend towards organic products is fueling the growth of the orange terpenes market.
Leading companies in the orange terpene market are focusing on creating tangy-flavored still water to meet the rising consumer demand for refreshing, naturally flavored beverages. Tangy-flavored still water is a crisp drink that incorporates natural fruit essences to provide a vibrant, sharp taste without added sugars or calories. For instance, in April 2024, Hint, Inc., a US-based beverage company, introduced Tangerine Hint, a new flavor of still water that offers a zesty taste. This beverage is free from sugar, sweeteners, and calories, and is infused with pure fruit essences to deliver an authentic tangerine flavor.
In May 2023, Firmenich International SA, a Swiss company specializing in orange terpene production, merged with DSM. This merger aims to create DSM-Firmenich AG, a leading innovation partner in nutrition, health, and beauty. The merger combines the expertise of both companies to drive innovation and growth in these fields. DSM, based in the Netherlands, is known for its focus on sustainable health, nutrition, and materials solutions.
Major companies operating in the orange terpenes market are Archer-Daniels-Midland Company, Univar Solutions Inc., Firmenich SA, Symrise AG, Dohler Group SE, Sigma-Aldrich Corp, Citrosuco S.A., Robertet SA, Berje Inc., Lebermuth Company, Ernesto Ventos S.A., Vigon International Inc., Ultra International B.V., Astrra Chemicals, Florida Chemical Company, Lemonconcentrate SLU, De Monchy Aromatics Limited, Graham Chemical Corporation, Pell Wall, Himalaya Terpenes Pvt Ltd, Jiangxi Global Natural Spice Co. Ltd
North America was the largest region in the orange terpenes market in 2023. The regions covered in the orange terpenes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the orange terpenes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The orange terpene market consists of sales of orange oil and orange terpene blends. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Orange Terpenes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on orange terpenes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for orange terpenes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The orange terpenes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.