(Food-Beverage-News.Com, October 16, 2019 ) Limonene is a chemical found in the peels of citrus fruits and in other plants. It is used in numerous applications ranging from food and beverages to pharmaceuticals to chemical industries. Increasing adoption of natural ingredients and green chemicals and health benefits associated with limonene are the major factors boosting the global limonene market. Asia Pacific will grow at substantial rates in the coming years due to rising citrus fruit production in China, India, Indonesia, Malaysia, etc.
The global Limonene (Dipentene) market was valued at US$ 352.11 Mn in 2018 and is estimated to grow at a CAGR of 4.19% over the forecast period to reach a US$ 488.60 Mn by 2026.
Health benefits associated with limonene
Limonene has a wide range of health benefits associated with its products. It coats the oesophagus and helps neutralize stomach acid. It assists in the body's natural peristalsis to reduce Gastroesophageal reflux disease (GERD) and increases gastric mucus production to promote gut healing.
According to a research study published in the US National Library of Medicine, scientists gave 50-100 mg of D-limonene to rats with ulcerative. colitis (UC), a condition in which the large intestine becomes inflamed. The results suggested disease activity and colonic mucosa damage were greatly reduced by the anti-inflammatory effects of D-limonene with increase in antioxidant levels.
According to the Food and Agricultural Organisation, the global production of citrus fruits increased from 144.7 million tons in 2015 to 145.56 million tons in 2016 finally reaching 146.59 million tons in 2017. Rising consumer awareness about these health benefits is one of the primary factors augmenting the market growth in the forecast period
Cosmetics is the major application area for limonene market
The cosmetics segment of the global limonene market is valued at USD 118.42 Mn in 2018 and is estimated to grow at a CAGR of 4.78% over the forecast period to reach a USD 171.92 Mn by 2026.
The cosmetics segment of the global limonene market holds 33.63% of market share in 2018, and is expected to increase by 35.19% by 2026, for global limonene market.
The collective revenue of the cosmetics segment of the global limonene market is expected to generate USD 1173.75 Mn in the forecast period 2019-2026.
Limonene is used in perfumes, soaps, and various other personal care products because of its pleasant fragrance, penetration enhancing capabilities, and anti inflammatory properties.
Continuing growth of beauty product spending and the appetite for new, different, better and premium products is likely to create new opportunities for manufacturers and is expected to augment the growth of the market.
For instance, in Elevance Renewable Sciences, Inc. has entered into a distribution agreement with Azelis S.A. The agreement calls for Azelis to serve as a distributor of the Elevance Clean product line throughout 32 European and Asian countries.
Asia Pacific is the leading region in world for Limonene market
The Asia Pacific limonene market is valued at USD 107.07 Mn in 2018 and is estimated to grow at a CAGR of 4.27% over the forecast period to reach a USD 149.50 Mn by 2026.
In 2018, China accounted for 62.54% market share in APAC limonene market and is
expected to grow at a CAGR of 4.61% during the forecast period. APAC is expected to witness robust growth in the coming future. On the other hand, with increasing awareness among customers, it is expected that the demand for limonene market is expected to grow over the forecast period.
With the increase in demand for personal care products due to rise in urbanization and increase in disposable income, it is expected that demand for limonene will increase during the forecast period.
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The global Limonene market is highly competitive with the large number of regional and international players. The companies are competing based on the price, product specifications, and market presence.
The global limonene market share is characterized by competition based on prices and service provided to clients. Major industry participants are based in the U.S. and Brazil. Major companies include Florida Chemical Company and Lemon Consentrate S.L.
The major focus of these companies is to achieve lower prices and to develop products with niche application and their investments are driven in the same direction.
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