In 2022, the global citrus molasses market was estimated to have acquired USD 687.2 million. Changing consumer preferences towards healthy and organic products is likely to aid the sales to USD 1507.06 million by 2033, garnering a CAGR of 7.4% during the forecast period, 2023 to 2033.
The global citrus molasses market is expected to rise in response to rising demand for plant-based products and the popularity of special diets. The demand for citrus products is increasing, which has led to a slew of new players entering the market and attempting to entice customers by offering exclusive citrus molasses product offerings. According to www.feedipedia.org, citrus molasses is a by-product of the extraction of citrus juice. After pressing the fruit, the fresh pulp is mixed with lime and pressed to extract moisture. The resulting liquid (press juice) is filtered to extract larger particles, heated to sterilize it, and then condensed.
| Report Attribute | Details |
|---|---|
| Estimated Market Value (2022) | USD 687.2 million |
| Expected Market Value (2023) | USD 738.05 million |
| Projected Forecast Value (2033) | USD 1507.06 million |
| Anticipated Growth Rate (2023 to 2033) | 7.4% |
Consumers are migrating to organic and natural goods, as they are more conscious about the wellbeing and health of their own and their families. This is anticipated to bode well for the market. Growing awareness has led customers to learn about the additives that are used in the beauty products they use, the drugs they consume, or the food they purchase for themselves or for the animals.
This has contributed to a move towards natural food products. The desire of customers to pay a higher price for more natural food products has changed the perception of citrus molasses markets. Manufacturers of citrus molasses often want to preserve the trust of their customers and so maintain transparency in the ingredients and manufacturing processes that they use. Many manufacturers of citrus molasses often specify the source of the raw material procurement, along with the area from which it is sourced.
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Internationally, per capita expenditure on food and beverages by the total population has increased. The key reason behind the growing per capita consumption expenditure is the increasing concern of consumers about health and wellness of livestock. Consumers are becoming more concerned about the nature of their food products, as well as making a habit of reading ingredient labels on the products. Demand for customers for organic ingredients and products has been observing considerable growth in past few years. The organic segment in the citrus molasses market is expected to have a profitable growth over the forecast year owing to the growing customer demand for better and organic goods health impact of genetically-modified food products.
According to FMI’s analysis, citrus molasses market has anticipated to grow at 7.4% CAGR between 2023 and 2033. The livestock population is expected to increase in the upcoming years, catering to rising demand from the livestock industry in terms of meat, dairy products or for farming. The rising livestock population is expected to increase the demand for feed as well. The demand for immunity increasing and natural ingredients in the animal feed has increased due to the rising concern among the consumers about eating healthy. This is expected to increase the demand for citrus molasses in the animal feed industry
Livestock and pet owners have become more concerned about the welfare of their animals. One of the main reasons for their increased spending on nutritious livestock feed is because of this. Customers are looking for more precise livestock feed, which has resulted in an increase in global livestock feed demand. Consumers are becoming more aware of their pets' intolerances and allergies which will give opportunity for manufacture of citrus molasses.
It is likely to Boost the Sales Globally Owing to the End-use Application
Citrus molasses are produced in huge quantities and thus they are easily available in the market. This is a key factor helping the market gain traction from end users. Availability of citrus molasses and no additional processing required has resulted in the price of the citrus molasses being low. The makes the product highly appealing to be used in the end-use applications especially in the animal feed and biofuel market. The high nutrition content adds to the market value along with economic prices.
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Easy Availability of These Products is Propelling the Growth
The demand for natural ingredients has been remarkably increasing in the food and beverage industry. The same trend also is registered in the animal feed market. Demand for molasses obtained from sugarcane beet and citrus is very high. This is especially common in the developed countries. The easy availability of these products in the retail market has resulted in the large consumer base.
This offers an opportunity for the citrus molasses manufacturers. The use of the citrus molasses in the feed industry has increased exponentially in the past few years. Thus, there is an underlying opportunity for the manufacturers to research on the possibilities of citrus molasses and launch their products in the retail market to enter in to the food industry.
Usage of Citrus Molasses for Animal Feed is Boosting Growth
FMI has projected conventional citrus molasses held dominant market share, which is around 81% in 2022 and it is expected to grow at a notable CAGR around 6.9% over forecast period.
Conventional citrus molasses, obtained from processing, were thrown away as waste. The rise in research and technological developments have resulted in the citrus molasses being known to be an important ingredient in the animal feed. This has resulted into more demand of conventional citrus molasses from customers for feeding livestock.
The Food and Beverage Segment is anticipated to Aid Growth in this segment
In terms of application, pulp production holds significant market share. Pulp production citrus molasses segment is expected to expand at 6.1% CAGR over the forecast period. Pulp production segment was estimated to account for 44% revenue share of the global citrus molasses market by 2022 end and is expected to lose 455 BPS in its market share by 2033 over 2022. Pulp production citrus molasses market is expected to create absolute USD opportunity of USD 147.2 Million between 2023 and 2033.
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New Policies for Manufacturers to Help the Market Grow
Brazil accounts for a significant share in the citrus molasses market both in terms of consumption and in terms of production, but if the pandemic lasts unabated, the sales of the citrus molasses could get affected in the forecast years due to economic instability and lack of product availability.
Improvement of new policies for the manufacturers and the workers will lead to successful operations. This could lead to the citrus molasses market to grow at a high rate in the Brazil.
United States is likely to be a Lucrative market in the North American Region
United States is one of key countries for citrus molasses market globally. FMI has projected that United States is predicted to stay one of the supreme profitable markets over the course of the forecast period.
According to FMI, United States has around 71.2% of market share in North America in year 2022. It is anticipated to intensify in the coming years, which is symbolic of noticeable scope for extension it is likely to offer to citrus molasses market manufacturing businesses.
Key Players are Innovating Products that is anticipated to Boost Growth
Companies are aligning their innovation capacities and competency in citrus ingredients market with modern digital technologies to create benefits for customers. New technological innovation and several other features are likely to upsurge the citrus molasses market in Mexico
Mexico holds around 26.2% of market share in Latin America in year 2022 and it is expected that it grows with CAGR of 6.23%.
China is likely to Hold a Significant Market Share
China is expected to hold more than 35.2% of market share in year 2022 for citrus molasses market for Asia Pacific and it is anticipated to grow with notable CAGR of 8.5%.
In terms of absolute GDP, China is the world's second largest economy after the United States. The Chinese economy is rapidly expanding, creating a massive and unique international business climate. China is a major global trade crossroads. It lends itself openly to massive international trade due to its vast land mass, population, rapidly increasing economy, and strategic ports. This business climate in china will help to boost citrus molasses market.
New Product Launches in the Region to Aid Sales
According to FMI, India holds more than 26.4% of market share in India for citrus molasses market and it is anticipated to grow at notable CAGR in forecasted period.
Citrus molasses industry involves a lot of research and development in order to assure the high quality and to find out better solutions in products. Many manufacturing companies of citrus molasses are heavily investing in the research to find launch new product line which is should be more cost effective as well as high in nutrition as compare to the traditional citrus molasses for consumption, which is expected to boost citrus molasses market.
The key players in this market include:
Some of the products being launched by the key players are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.4% from 2022 to 2032 |
| Market value in 2023 | USD 738.05 million |
| Market value in 2033 | USD 1507.06 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD million/ billion for value |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Nature, Sales Channel, End-use, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Mexico, Brazil, Rest of Latin America, Germany, United Kingdom, France, Spain, Italy, Rest of Europe, Japan, China, Singapore, Thailand, Indonesia, Israel, GCC countries, South Africa, Australia, New Zealand, Rest of Middle East and Africa |
| Key Companies Profiled | Lemon Concentrate S.L.; Louis Dreyfrus Company B.V.,; Citrusuco S.A.,; Citromax Group,; Sucocitrico Cutrale Ltd.,; Yantai North Andre Juice Co. Ltd.; Vita-Pakt Citrus Products,; Peace River Citrus Products; Rio Grande Juice Company; Citrus Processing India (P) Ltd. |
| Customisation Scope | Available on Request |
Asia Pacific is dominating the citrus molasses market, followed by North America.
The market recorded a valuation of USD 687.2 million in 2022.
Citrus pulp is the preferred ingredient when creating citrus molasses.
Citrus molasses is most frequently found in liquid form.
The market is expected to reach USD 1,507.06 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature 5.1. Conventional 5.2. Organic 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 6.1. B2B 6.2. B2C 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Animal Feed 7.2. Pulp Production 7.3. Biofuel 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Lemon Concentrate S.L. 16.2. Louis Dreyfrus Company B.V. 16.3. Citrusuco S.A. 16.4. Citromax Group 16.5. Sucocitrico Cutrale Ltd. 16.6. Yantai North Andre Juice Co. Ltd. 16.7. Vita-Pakt Citrus Products 16.8. Peace River Citrus Products 16.9. Rio Grande Juice Company 16.10. Citrus Processing India (P) Ltd. 17. Assumptions & Acronyms Used 18. Research Methodology
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Citrus Molasses Market
