Limonene Market

Global Limonene Market Size (2024 to 2029)

Limonene Market share value in 2024 was 350.68 million, and it is expected to grow at a CAGR of 6.00% during the forecast period 2024-2029 to reach USD 469.29 million by 2029.

Limonene is a naturally occurring chemical present in the peel of citrus fruits. Limonene is present in the peel of lemons, oranges, limes, grapefruits, etc. Limonene is also called terpene. Limonene is especially concentrated in orange peels as 97% of orange peel consists of limonene. It is extracted through the distillation process. In this distillation process, fruit peels are soaked in water. This step is followed by heating these peels until the volatile molecules are released via steam. Then that steam is condensed and separated to obtain limonene. There are various uses of limonene across various industries. It is also known as d-limonene. This is due to d-limonene being the main chemical form of limonene. Limonene has a strong aroma. This strong aroma helps to protect plants from predators. Limonene also offers various health benefits. It acts as a flavoring agent in the food and beverage industry. It possesses anti-inflammatory, anti-stress, and many other health-beneficial properties. 

The increase in demand for limonene for its citrus flavor is creating opportunities in the Limonene market growth. The increase in demand is from various industries such as pharmaceutical, cosmetics, food and beverage, etc. Additionally, the increase in research and development in the field helps in developing new and enhanced products. This also helps in increasing the production capacity, which helps many companies to maintain their competition. For instance, Givaudan has created natural and sustainable flavors and perfumes, and Firmenich has created a variety of limonene-based natural flavors and fragrances. Additionally, because of its strong fragrance, limonene is used in aromatherapy. This helps to remain stress-free as it acts as an anti-stress agent. These are the factors that are creating opportunities in the Limonene market over the forecasting period.

Global Limonene Market Drivers:

The increase in health awareness among the population about the health benefits associated with limonene is one of the driving factors for the Limonene Market growth. Limonene is a substance that possesses various qualities that aids numerous diseases. It acts as an anti-inflammatory, antioxidizing, and anti-cancer agent. This also helps to cure many heart-related diseases as it helps in weight loss. The increase in the prevalence of obesity among the population increases the demand for limonene-based products and supplements as it helps in weight loss. It helps act as an anti-cancer agent as it helps to treat skin cancer. For instance, as per the National Library of Medication, those who consumed citrus fruit peel had a reduced risk of developing skin cancer compared to those who only consumed citrus fruits or their juices. Additionally, it also helps to treat stomach problems as it helps to cure stomach culture.

The increase in demand for limonene in various industries drives the Limonene Market growth. Limonene is used in the cosmetics and personal care industry. In the cosmetics and personal care industry, it is used in various products such as shampoos, conditioners, soaps, and lotions. Limonene is known for its strong aroma. Hence, this is also used in many aroma therapies. Limonene helps in skin brightening, and it is used as an anti-ageing agent in many creams. Additionally, limonene is used in many cleaning products. This is due to it being used as a degreaser and stain remover. Limonene is used to remove sticky things, greases, and other compounds from surfaces. It is also used in these products to provide a pleasant scent. These factors increase the demand for limonene. This results in driving the Limonene market growth.

Global Limonene Market Restraints:

The fluctuating prices of limonene hinder the Limonene market growth. This is due to the unavailability of citrus fruits as citrus fruits like oranges are seasonal fruits; hence only available in their respective season. This leads to fewer products available in the market. This results in an increase in prices for these fruits. This forces industries to increase the cost of limonene, leading to decreased demand for limonene from lower-income category people. Additionally, the presence of various chemical substituents hinders market growth as synthetic chemical substitute is much cheaper than the original limonene. Despite the fact of its health benefits, the overconsumption of limonene may lead to nausea, vomiting, etc. Also, some people do not use limonene-based products as it may lead to skin irritation. These are the restraining factors to the Limonene Market growth.

Impact of COVID-19 on the Limonene Market:

During COVID-19, there was a decrease in demand for limonene from various industries. The demand for this is decreased in packaged and processed food industry. This is due to there was a decrease in the cultivation and production of citrus fruits. During COVID-19, there was an imposition of lockdown and various restrictions. This led to the disruption of supply chain management of raw materials required for the production of limonene. During the pandemic, because of the lockdown, no one was going outside and hence unavailable to buy many products. Hence there was a decrease in sales of cosmetics and personal care products. This led to a decrease in demand for limonene. Later on, because of many vaccination drives, some restrictions were left. This led to slight growth in the market. The increase in the use of e-commerce among the population helped to increase the demand for limonene.

REPORT COVERAGE: 

This research report on the global limonene market has been segmented and sub-segmented based on end user, source, and region.

Global Limonene Market - By Source:

• Lemon
• Mandarin
• Grapefruit
• Orange
• Others

Among these, the Lemon segment dominates the Limonene Market. The Lemon segment is expected to show its dominance over the forecasting period. Lemon peels are the main source of limonene. It makes up almost 50-70% of the total consumption of limonene, the essential oil. Lemon peel also consists of a substantial amount of alcohol. This alcohol increases the shelf life of the end product. The limonene manufactured from lemon peel is D-limonene. This type of limonene is majorly used in pharmaceutical industries as it helps to treat cancer, inflammation, etc. This D-limonene is used in various industries, increasing the demand for limonene in the market. This results in the lemon segment’s growth in the market. The Mandarin oranges segment is expected to show the fastest growth over the forecasting period. This is due to these oranges being cultivated in huge amounts in countries like China, Spain, and the United States. These are mostly used in the manufacturing of essential oils that are rich in limonene. This oil is used in the fragrance industry. This increases the demand for mandarin oranges.

Global Limonene Market - By End User:

• Food & beverages
• Pharmaceutical
• Cosmetics & Personal care
• Others

Among these, the cosmetics and personal care industry dominates the Limonene Market. The cosmetics and personal care segment is expected to show its dominance over the forecasting period. This is due to limonene consisting of nutritive compounds that helps in dermis protection and helps in soothing of the skin. Limonene helps to restore the smoothness of skin because it acts as an anti-aging agent. It also acts as an anti-inflammatory agent and assures protection against inflammatory phenomena. These qualities of limonene increase its demand in the cosmetics and personal care industry.

The pharmaceutical industry is expected to show the fastest CAGR growth in the Limonene market over the projected period. This is due to the health benefits associated with limonene. The main chemical ingredient is d-limonene, and this is present in peels of citrus fruits. Limonene acts as an anticancer, anti-inflammatory, and antioxidant agent; this helps to drive the demand for limonene in the pharma segment. For instance, as per the National Library of Medication, those who consumed citrus fruit peel had a reduced risk of developing skin cancer compared to those who only consumed citrus fruits or their juices.

Global Limonene Market - By Region:

The North American region is expected to show dominance in the Limonene market over the forecasting period. This is due to its properties that help with various health issues. Limonene is naturally derived from peels of citrus fruits and hence acts as a natural ingredient in cosmetics. The majority of customers prefer products with natural ingredients. Even though the prices of these products are high, the increase in purchasing power leads to an increase in the demand for limonene. According to Forbes, the U.S. contributed about 20% of the income from the global cosmetics sector in 2021. Additionally, the skincare industry made up more than 23% of the entire U.S. market for cosmetics and beauty products. The United States is one of the world's top producers of citrus fruits. These factors increase the demand for limonene in the region. This results in the growth of the North American regional Limonene market.

Europe's Limonene market is next to North America in leading the dominant shares of the market. This is due to an increase in the growth of the cosmetic industry in this region. Additionally, the increase in customers' adoption of natural fragrances in numerous uses, such as flavor additives, detergents, and various types of drinks. Germany holds a major position in the European fragrance market. This is due to the large usage of moisturizers, perfumes, and colognes in cosmetics products. Its pleasant fragrance is the main reason behind the growth of this market in the European region. The Asia Pacific region is expected to show the fastest CAGR growth in the Limonene Market over the forecasting period due to an increase in awareness among consumers regarding the health benefits associated with the consumption of limonene.

KEY MARKET PLAYERS:

Key market players of Limonene Market are Lemonconcentrate S.L.U., Florida Chemical Company (acquired by ADM)Banner Chemicals Limited, Citrus Oleo, Sucorrico, Belize Ltd., Spectrum Chemical, Citrosuco, Firmenich SA, Tropfruit Nordeste S.A.

RECENT HAPPENINGS IN THE MARKET:

On 31st May 2022, DSM and Firmenich announced that they had signed a business combination agreement (the "BCA") to create a leading partnership for innovation, creation, and well-being in the areas of nutrition, beauty, and well-being. The merger will combine DSM's exceptional Health and Nutrition portfolio and well-known scientific expertise with Firmenich's distinctive leading Perfumery and Taste businesses, world-class research platforms, and related co-creation capabilities. Four successful enterprises that work well together will make up the new organization; each will hold a leading position.