Global Limonene Market is projected to grow at a CAGR of 4.5% during the forecast period (2020 - 2025).
- Growing demand for bio-based solvents and its application usage act as the key factors driving the demand for limonene in the global market. The increasing use of Limonene in supplement followed by beverage is expected to drive the growth of limonene in the global market.
- Increasing application from end-user industries like automobile, aerospace, general manufacturing, wood and marine is propelling the demand for limonene over the forecast period. Rapid transformation in food processing industry towards incorporating natural ingredients in products will provide substantial boost to the food & beverage limonene market.
Key Market Trends
Growing Demand for Limonene in Personal Care Industry
Limonene market from cosmetic & personal care has witnessed a siginficant growth in last couple of years, owing its heath benefical properties and increasing demand for organic personal care products. The limonene based personal care products have nutritive compounds which help in dermis protection and soothing of skin. It contributes to restoring smoothness of hair and skin to assure protection against inflammatory phenomenon. It is appropriate for after-sun skin care, moisturizing skin, anti-aging skin care and restructuring hair care. Growing demand for organic cosmetic & personal care products would upsurge the market growth in the forecast period.
North America holds a Significant Market Share
North America holds a significant market share in global limonene market. The United States is the largest producer of citrus fruit in the world. Limonene and its derived products are used in various personal care products. Increase in demand for natural ingredients in cosmetics and preferences towards bio-degradable product will propel demand of limonene in the coming years. Asia Pacific is anticipated to witness robust growth in the during the forecast period. Moreover, with increasing awareness among customers, it is expected that the demand for limonene market is expected to grow over the forecast period.
The key brands are embarking on mergers and acquisitions and new product development as some of their key strategies to achieve consolidation and optimize their offerings respectively. Some of the major key players in the limonene market, globally includes Florida Chemical Company, Firmenich SA, TROPFRUIT NORDESTE S.A, Citrosuco, Citrus Oleo, among others.
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