Market growth for citrus water is anticipated to reach US$ 51.9 million by 2033 from US$ 10.59 million in 2023.
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.
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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
- In 2019, Ball Corporation collaborated with Danone to launch L’mon, a new sparkling canned beverage.
- In 2019, Limoneira, a citrus corporation based in the United States, announced the conclusion of a joint venture and land acquisition with FGF Trapani (FGF). The agreement allows Limoneira to expand its reach in Argentina and ensures a 365-day, 24-hour fruit supply.
- July 2021 – National Beverage Corporation, an American beverage maker, introduced three new sparkling water flavors under the LaCroix brand. The effervescent waters include no calories or sugar.
- May 2021 – PepsiCo Inc., a renowned global food and beverage corporation, debuts Soulboost, an enhanced sparkling water beverage enriched with functional ingredients. The drink comes in two flavors: blueberry pomegranate and black cherry citrus, which contain 200 mg of ginseng to aid in mental stamina, and blackberry passion fruit and strawberry rose, which contain 200 mg of theanine to aid in relaxing.
- June 2022 – Bickford & Sons, a South Australian business, introduced new tonic water. Tonic water is prepared from natural elements such as carbonated water, quinine, and sugar or a natural sweetener.
- March 2022 – Schweppes, a Coca-Cola Company brand, introduced a new premium 600 ml glass container. The drink comes in three flavors: Indian Tonic, Slimline Tonic, and Elderflower.
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Key Segments
Product Type:
- Economic
- Premium
Source:
- Lemon
- Orange
- Lime
- Grapefruit
- Mixed
Packaging Format:
- Glass Bottles
- Tins
- Plastic Bottles
- Other
Distribution Channel:
- Modern Trade
- Specialty Stores
- Convenience Stores
- Commercial Market
- Hotels/Restaurants/Bars
- Online Retailers
- Others
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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. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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