Citral Market: Introduction
In terms of volume, the global citral market is anticipated to expand at a CAGR of 3% from 2020 to 2030. The increase in awareness about health among consumers is projected to drive the demand for vitamin & food supplement products across the globe. This is expected to boost the demand for vitamins, thereby driving the consumption of citral in vitamin synthesis. Citral is an essential ingredient in various aroma chemicals that are widely used in the cosmetics & personal care industry. Thus, growth of the cosmetics & personal care industry is anticipated to drive the demand for citral in the near future. Citral is widely employed to produce citrus-based cleaners and detergent concentrates that are used to remove greasy deposits. It is also used in heavy cleaning duties. Citral provides citrus fragrance to products. The rise in demand for cleaners and detergents is anticipated to boost the global demand for citral during the forecast period.
Regulations Governing Global Flavor & Fragrance Industry to Hamper Citral Market
The citral market is anticipated to be hampered by regulations governing the global flavor & fragrance industry. The International Fragrance Association (IFRA) Standard recommends that any material used to impart perfume or flavor in products intended for human ingestion should consist of ingredients that are in compliance with appropriate regulations for foods and food flavorings in countries of planned distribution. Citral is chemically unstable and degrades overtime in aqueous solutions due to acid catalyzed and oxidative reactions, leading to a loss of desirable flavor and formation of off-flavors. Therefore, the incorporation of citral into foods and beverages is a major challenge for the food industry, as chemical deterioration needs to be arrested to minimize the loss of product quality.
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Synthetic Products to Dominate Citral Market
Based on product type, the global citral market has been bifurcated into natural and synthetic. In terms of value, the synthetic segment dominated the global citral market in 2019. The segment is anticipated to expand at a CAGR of more than 3.3% during the forecast period. Citral produced chemically in laboratories is called synthetic citral. Synthetic citral is produced from isobutylene. Formaldehyde is added to isobutylene to form isoprenol. Citral can also be produced from isoprene. Chemically, citral can be synthesized by a mixture of two aldehydes that have the same molecular formula but different structures. Furthermore, citral can be synthesized from myrcene.
Synthesis of Vitamin A & E to Drive Global Market
Based on application, the global citral market has been classified into synthesis of vitamin A & E, lemon essence, menthol, and other citral derivatives. In terms of value, the synthesis of vitamin A & E segment led the global citral market in 2019. The segment is estimated to expand at a CAGR of more than 3% during the forecast period. The rise in demand for health supplements is driving the consumption of vitamin supplements. This is projected to augment the global demand for citral during the forecast period.
Asia Pacific to be Lucrative Region of Citral Market
Based on region, the global citral market has been split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of volume, Asia Pacific accounted for a significant share of the global citral market in 2019. The demand for citral is high in Asia Pacific, particularly in China, owing to increase in consumption of vitamins and aroma chemicals in the region. Asia Pacific is likely to be a lucrative region of the global citral market during the forecast period. China is the leading producer and consumer of citral in the region. India and China are the two leading economies in Asia Pacific. These countries are anticipated to offer immense opportunities to the citral market in the region in the near future. The demand for citral is likely to rise significantly in pharmaceuticals and food & beverages application segments in Asia Pacific during the forecast period. This is expected to augment the citral market in the region during the forecast period.
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Competition Landscape of Citral Market
In 2016, BASF SE announced plans to expand its vitamin A production capacity by building a new facility in Ludwigshafen, Germany. The new plant would be integrated with the existing citral plant at Verbund, Germany. In 2012, Zhejiang NHU Co. Ltd. started the manufacture of synthetic citral and citral derivatives. The company offers citral under its flavor & fragrance product segment. The global citral market was consolidated in 2019. This trend is expected to continue during the forecast period. Leading players have taken initiatives to expand their presence through increase in manufacturing capacities and strategic partnerships.Key manufacturers operating in the global citral market include BASF SE, Zhejiang NHU Co. Ltd., Kuraray Co., Ltd., and Takasago International Corporation.
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Global Citral Market: Segmentation
Citral Market, by Product Type
· Natural
· Synthetic
Citral Market, by Application
· Synthesis of Vitamin A & E
· Lemon Essence
· Menthol
· Other Citral Derivatives
Citral Market, by End Use
· Cosmetics & Personal Care
· Household Care
· Laundry Detergents & Cleaners
· Dishwashers
· Pharmaceuticals
· Food & Beverages
· Air Care
· Others (including Aroma Chemicals)
Citral Market, by Region
· North America
o U.S.
o Canada
· Europe
o Germany
o France
o Spain
o Italy
o U.K.
o Russia & CIS
o Rest of Europe
· Asia Pacific
o China
o Japan
o India
o Australia
o New Zealand
o Japan
o Malaysia
o Thailand
o Indonesia
o South Korea
o Taiwan
o Rest of Asia Pacific
· Latin America
o Brazil
o Mexico
o Rest of Latin America
· Middle East & Africa
o GCC Countries
o South Africa
o Rest of Middle East & Africa
An assortment of analytics technologies will help in augmenting the commercial productivity. However, until now, the pace of adoption of digital technologies in the overall chemicals industry has been relatively slow. It thus remains to be seen how far the players in the market will be able to unlock long-term productivity benefits of AI-driven management of various business functions, particularly research and development and production.
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