Orange Terpenes Market

Orange Terpenes Market Overview

The global orange terpenes market demand is anticipated to be valued at US$ 5.3 Billion in 2022, forecast to grow at a CAGR of 8% to be valued at US$ 11.44 Billion from 2022 to 2032. The market has shown exceptional penetration in developed economies in Europe due to the rise in adoption of sustainable products in a variety of applications such as food and personal care, among others, and the region's high consumption of orange terpenes.

Growing demand from end-use industries such as cosmetics and personal care is propelling the global orange Terpenes market to new heights. Other diverse trends and drivers are also significantly contributing to the market's growth.  Orange Terpenes are completely biodegradable, making them environmentally friendly.

The global demand for such products is increasing. It is the result of increased awareness about the negative impact of non-biodegradable products. This is why the millennial consumer, who is both aware and willing to pay a premium for clean labels, is demanding such products.

Over the forecast period, this will be a significant growth factor in the market. Natural and organic cosmetics and personal care products are becoming increasingly popular around the world. In some countries, the use of synthetic materials is strictly prohibited. This is causing a significant increase in demand for orange Terpenes.

Which are Some Prominent Drivers Spearheading Orange Terpenes Market Growth?

The increase in demand for the product from end user industries such as cosmetics and personal care, as well as their global expansion, are the major factors driving the orange Terpenes market. Increased awareness about the environmental impact of non-biodegradable products, as well as the growing popularity of orange terpenes due to their sustainability, drive the orange Terpenes market forward. The government's increased investment and funds, as well as technological advancements in the fragrance and flavor sectors, all have an impact on the orange Terpenes market.

Furthermore, the rise in demand for organic and natural cosmetics and personal care products, as well as restrictions on the use of synthetic materials in some regions, benefit the orange Terpenes market. Furthermore, millennials' preference for organic products and the demand for clean labels create profitable opportunities for orange Terpenes market players during the forecast period.

What are the Challenges Faced by the Orange Terpenes Industry?

The implementation of stringent regulatory norms and standards for personal care ingredients and personal care chemicals in both developed and developing countries is expected to stymie the orange Terpenes market. In the forecast period, the market for orange Terpenes is expected to be challenged by the adoption of synthetic materials as alternatives.

Why is Asia-Pacific emerging as an Opportunistic Orange Terpenes Market?

It is important to note that the Asia Pacific (APAC) region will lead in terms of production over the forecast period. Large areas of arable land and increased production are factors supporting this lead. However, in terms of demand, Asia Pacific comes in second to North America. Because Europe and North America consume large amounts of orange Terpenes, exports will be noted in Asia Pacific, creating opportunities for market growth.

Nikhil Kaitwade

Principal Consultant

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How is Europe Contributing to Growth of the Orange Terpenes Market?

According to Future Market Insights, Europe has a high consumption of orange Terpenes, making it a leading region in the global orange Terpenes market. One of the most notable growth factors propelling regional markets on a high growth trajectory is a keen focus on and widespread adoption of sustainable products.

Market Competition

Some of the key participants present in the global Orange Terpenes  market include Firmenich, Florida Chemical Company, Citrosuco North America, Inc., Cutrale Citrus Juices USA, Inc., Florachem Corporation, Citrus and Allied Essences, Ltd., Ventos, Citrus Oleo, Givaudan Flavors Corporation, Flotek Industries, Inc., Southern Gardens Citrus, Takasago International Corp., De Monchy Aromatics, Tropicana Products, Inc. and Vigon International among others. Attributed to the presence of such high number of participants, the market is highly competitive.

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Report Scope

Key Segments Profiled in the Orange Terpenes Industry Survey

Application:

• Orange Terpenes for Homecare
• Orange Terpenes for Industrial Applications
• Orange Terpenes for Pharmaceuticals
• Orange Terpenes for Food
• Orange Terpenes for Personal Care
• Orange Terpenes for Other Applications

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific
• Middle East & Africa