Citrus aurantium extract is derived from citrus tree native to South East Asia. The citrus aurantium extract have is used in skin infection, food products, soap, supplement fragrances along with treatment of chronic fatigue syndrome, nasal congestion and some herbal medicines. The global citrus aurantium extract market is expected to grow at a significant growth rate, attributed to increasing application of the extract in herbal supplements. The citrus aurantium extract market in North America is expected to register a relatively high growth rate over the forecast period followed by Asia Pacific.
Global Citrus Aurantium Extract Market: Dynamics
The major factors driving growth of the global citrus aurantium extract market include growing demand for the extract in herbal supplements, attributed to increasing health concern among the consumers across the globe. The statement by U.S. National Centre for Complementary and Integrative Health the bitter orange is safer to use than ephedra as well as the ban over herbal stimulant ephedra in the U.S. and Canada leads to fuelling the demand for global citrus aurantium extract market in the North America. The branding of citrus aurantium containing supplements as herbal weight-loss ephedra-free products, results in driving the global citrus aurantium extract market over the forecast period.
However, citrus aurantium is also expected to cause the same spectrum of side effects as ephedra as well as it is banned by the National Collegiate Athletic Association (NCAA). This, in turn, leads to create negative impact on citrus aurantium market over the forecast period. Additionally, high cost of production of citrus aurantium extract is also expected to restrain the citrus aurantium market particularly in regions such as Asia-Pacific and Middle East and Africa. Companies manufacturing citrus aurantium extract products can leverage potential opportunities in regions such as North America, Europe and Asia Pacific, attributed to rapidly growing demand for herbal supplements and appetite suppressant, and the trend is expected to continue over the forecast period.
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The global citrus aurantium extract market is segmented on the basis of end-use industry, application, and region. Among the end-use industry segments, pharmaceutical industry segment contribute for significant value share over the forecast period in global citrus aurantium extract market owing to high demand for citrus aurantium extract in herbal supplements. Based on application, appetite suppressant segment is expected to count for relatively high revenue share with significant growth rate, attributed to high demand for weight losing product across the globe.
On the basis of geography, the global citrus aurantium extract market is segmented into seven regions namely, North America, Western Europe, Asia Pacific except Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa and Japan. Among the regions, North America dominates the global citrus aurantium extract market in terms of revenue contribution owing to relatively high demand for citrus aurantium extract from the herbal supplements market.
North America is followed by Western Europe, attributed increasing health awareness among the consumer in the region. APEJ account for relatively high volume share in the global citrus aurantium extract market, attributed to growing population particularly in the countries such as China and India. Eastern Europe and Japan account for a relatively low value share in the global citrus aurantium extract market. Latin America and Middle East & Africa are expected to represent moderate opportunity in the global citrus aurantium extract market, owing to the moderate economic as well as industrial growth in the region. Overall, the outlook for the global citrus aurantium extract market is positive over the forecast period.
Some of the prominent players in the global citrus aurantium extract market include Nutraceutical Corporation, Shaanxi huadong Biological Technology Co., Ltd., Nutra Green Biotechnology Co., Ltd., Ningbo J&S Botanics Inc., and Nanjing NutriHerb BioTech Co., Ltd.