The Limonene is a neutral liquid hydrocarbon with lemons such as fragrance and exists in the indispensable oil of the citrus fruits namely lemon essential oil, orange essential oil and several others. In the worldwide market of food and beverage, limonene is attaining the requirement due to its multi-faceted benefits in the pharmaceuticals, food and cosmetics and industry of beverage. The Limonene is majorly utilized as the flavor and fragrance additive in the end-use industry. It is an oral dietary complement encompassing a natural cyclic monoterpene and foremost component of the oil removed from citrus peels with impending chemopreventive and antitumor activities. The Limonene is extensively utilized as a flavor and fragrance and is listed to be commonly documented as safe in food by the food and drug administration.
According to the report analysis, ‘Global Limonene Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024’ states that in the global limonene market, there are numerous key players which recently working more enormously for leading the highest market growth and dominating the high value of market share across the globe throughout the short the span of time while upsurge in the requirement for the natural and healthy ingredients in the food and beverages, increasing the awareness amongst the geriatric populace related to the limonene and increasing the applications of the product includes Florida Chemical Company, Firmenich, Tropfruit, Citrosuco, Citrus Oleo, Ernesto Vents, Sucorrico, Agroterenas Citrus, Florachem, Lemon Concentrate and several others.
Additionally, the Limonene is removed from the citrus peels and is majorly concentrated in Brazil, the USA, and Europe. Presently, there are numerous producing corporates in the world limonene industry. The foremost players are Florida Chemical Company, Firmenich, Tropfruit, Citrosuco, Citrus Oleo, and Ernesto Vents. The worldwide production of limonene augments to 42944 MT in 2017 from 38371 MT in 2012 with an average growth rate of 2.28%. In 2016, the Global limonene potential utilization rate continued at around 80%.
The Limonene has several grades, which involve the pharmaceutical grade, food-grade and industrial grade. And each variety has benefit industries relatively. With pharmaceutical value and flavor consequence of limonene, the downs downstream application industries will demand supplementary limonene products. So, limonene has a wide market potential in the coming years. The Constructors affianced in the industry is trying to introduce good performance limonene through developing the technology.
However, in the consumption market, the global consumption value of limonene effectively grows with 3.67% average growth rate. And the USA and Brazil are the foremost consumption regions owing to the bigger requirement of the downstream benefits. In 2016, these two economies occupied 59.49% of the global consumption volume in total. The worldwide market for Limonene is expected to grow at a CAGR of roughly 2.5% over the next five years, will reach 340 million USD in 2024, from 300 million USD in 2019. Therefore, in the coming years, it is anticipated that the market of limonene will increase around the globe more positively over the coming years.
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Ankur Gupta, Head Marketing & Communications