The lime market in North America is estimated to register a CAGR of 3.7% during the forecast period (2020-2025). Lemon and lime are grown primarily for the fresh market, with the juice from limes used as a flavoring in foods and beverages. The largest lime producer in the North American region in Mexico. The United States and Canada are the major consumers of lime.
The growing demand is expected to increase the production and import value of lime during the forecast period. Production of lime in the United States, according to FAO, accounted for 812 thousand ton in 2018, which is less compared to consumption. Thus local consumption is dependent entirely on imports. Spain, Argentina, and Mexico are the largest suppliers in the country.
Key Market Trends
Increasing Lime Consumption Drives the Market
Though North America's lime production is low as compared to other regions, the increased need to meet domestic consumption is expected to boost production. According to FAO, Mexico's lime production accounted for 2.54 million ton in 2018 as against 2.42million ton of lime in 2016.
The increase in demand due to health awareness also increases the market for lime. Mexico is the major producer of lime. However, a bulk of the domestic produced is used to fulfill the local demand. The United States and Canada are the major consumers of lime. This trend is expected to increase steadily, which, in turn, impacts the lime market.
Rising Lime Import Signifies the Market Growth
The growing demand in the United States due to high consumption and less production in the region is expected to increase the import value of lime during the forecast period. Since there is production, local consumption is dependent entirely on imports. Spain, Argentina, and Mexico are the largest suppliers in the country. The country is the major exporter to the United States, and therefore, the market value depends on the consumption and demand from other countries.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support