Citrus Water Market Size, Industry Share, Development Trends, Growth and Global Scope, Opportunities and Competitive Landscape till 2033
The citrus water market is expected to increase from US$ 10.59 million in 2023 to US$ 51.9 million in 2033.
The Use of Citrus Water as a Fragrance in Cosmetics Amplifies Production Globally
Citrus water is used to increase flavor in the food sector. It is mostly used to manufacture candies in the confectionery business. Citrus water also adds a tangy flavor to stews, soups, and other types of prepared foods. Citrus water is often used to make a variety of drinks. These elements are expected to increase the global citrus fruit market’s revenue growth prospects.
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Citrus concentrates have applications in personal care products, which is predicted to have a favorable impact on this market. Individuals’ preference for organic and healthy food choices is also predicted to boost revenue growth in this target market during the forecast period.
An increase in the consumption of sugar-free citrus water has been noticed, which is expected to create extra demand and present profitable prospects for market participants to expand their respective product offers. Sadly, the cost can be a substantial barrier to consumer acceptance, which could have a negative impact on this market to some extent.
This market’s manufacturing, distribution, and sales channels were all affected. Yet, according to sales statistics from several industry players, organic and functional beverages outperformed carbonated drinks in terms of revenue contribution to various food and beverage enterprises throughout the pandemic. This pattern is likely to persist.
Consumers are increasingly interested in sustainable or biodegradable packaging choices. This is expected to provide new opportunities for players and boost revenue growth in this market over the forecast period.
Key Points from the Citrus Water Market
· Consumer inclination for healthy alternatives to sugary soft drinks is one of the key elements driving the citrus water market’s rise.
· The market size is anticipated to be US$ 10.59 million in 2023.
· The citrus water market is expected to capture a CAGR of 17.1% during the forecast period 2023 to 2033.
· North America dominated the citrus water market.
Key Developments in the Citrus Water Market
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Key Segments
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jun 30, 2023