CitralMarket: Introduction
Interms of volume, the global citral market is anticipated toexpand at a CAGR of 3%from 2020 to 2030. The increase in awareness about health among consumers isprojected to drive the demand for vitamin & food supplement products acrossthe globe. This is expected to boost the demand for vitamins, thereby drivingthe consumption of citral in vitamin synthesis. Citral is an essentialingredient in various aroma chemicals that are widely used in the cosmetics& personal care industry. Thus, growth of the cosmetics & personal careindustry is anticipated to drive the demand for citral in the near future.Citral is widely employed to produce citrus-based cleaners and detergentconcentrates that are used to remove greasy deposits. It is also used in heavycleaning duties. Citral provides citrus fragrance to products. The rise indemand for cleaners and detergents is anticipated to boost the global demandfor citral during the forecast period.
RegulationsGoverning Global Flavor & Fragrance Industry to Hamper Citral Market
Thecitral market is anticipated to be hampered by regulations governing the globalflavor & fragrance industry. The International Fragrance Association(IFRA) Standard recommends that any material used to impart perfume or flavorin products intended for human ingestion should consist of ingredients that arein compliance with appropriate regulations for foods and food flavorings incountries of planned distribution. Citral is chemically unstable and degradesovertime 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 forthe food industry, as chemical deterioration needs to be arrested to minimizethe loss of product quality.
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SyntheticProducts to Dominate Citral Market
Basedon product type, the global citral market has been bifurcated into natural andsynthetic. In terms of value, the synthetic segment dominated the global citralmarket in 2019. The segment is anticipated to expand at a CAGR of morethan 3.3%during the forecast period. Citral produced chemically in laboratories iscalled synthetic citral. Synthetic citral is produced from isobutylene.Formaldehyde is added to isobutylene to form isoprenol. Citral can also beproduced from isoprene. Chemically, citral can be synthesized by a mixture oftwo aldehydes that have the same molecular formula but different structures.Furthermore, citral can be synthesized from myrcene.
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Synthesisof Vitamin A & E to Drive Global Market
Basedon application, the global citral market has been classified into synthesis ofvitamin A & E, lemon essence, menthol, and other citral derivatives. Interms of value, the synthesis of vitamin A & E segment led the globalcitral market in 2019. The segment is estimated to expand at a CAGR of morethan 3%during the forecast period. The rise in demand for health supplements isdriving the consumption of vitamin supplements. This is projected to augmentthe global demand for citral during the forecast period.
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AsiaPacific to be Lucrative Region of Citral Market
Basedon 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 in2019. 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 marketduring the forecast period. China is the leading producer and consumer ofcitral in the region. India and China are the two leading economies in AsiaPacific. These countries are anticipated to offer immense opportunities to thecitral market in the region in the near future. The demand for citral is likelyto rise significantly in pharmaceuticals and food & beverages applicationsegments in Asia Pacific during the forecast period. This is expected toaugment the citral market in the region during the forecast period.
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CompetitionLandscape of Citral Market
In2016, BASF SE announced plans to expand its vitamin A production capacity bybuilding a new facility in Ludwigshafen, Germany. The new plant would beintegrated with the existing citral plant at Verbund, Germany. In 2012,Zhejiang NHU Co. Ltd. started the manufacture of synthetic citral and citralderivatives. The company offers citral under its flavor & fragrance productsegment. The global citral market was consolidated in 2019. This trend isexpected to continue during the forecast period. Leading players have takeninitiatives to expand their presence through increase in manufacturingcapacities and strategic partnerships.Key manufacturers operating in the globalcitral market include BASFSE, Zhejiang NHU Co. Ltd., Kuraray Co., Ltd., and Takasago InternationalCorporation.
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