Global Oranges Market Size Is Set To Reach $4.63 Billion By 2028

Date

11/25/2024 8:45:51 AM

(MENAFN- EIN Presswire)

Orange Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The orange market size is expected to see strong growth in the next few years. It will grow to $4.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.” - The Business Research Company

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The orange market has boomed in recent years, with the golden fruit carving out a significant place on the world stage. The orange market size, currently valued at $3.44 billion, is projected to grow to $3.64 billion in 2024, at a compound annual growth rate CAGR of 5.9%. This increase can be chalked up to a surge in global demand for vitamin C-rich fruits, expansion of citrus farming in suitable climates, growing popularity of orange juice as a breakfast staple, and the growth of citrus-related businesses such as essential oils and fragrances, accompanied by a rise in demand for processed orange products.

How Will The Orange Market Size Grow In The Coming Years?

Indeed, the future looks bright. The orange market size is predicted to see robust growth in the near future, propelling to $4.63 billion by 2028 at a compound annual growth rate CAGR of 6.2%. This projected growth is associated with a rise in consumer preference for plant-based diets, growing awareness of health benefits beyond vitamin C, augmented demand for natural flavorings in the food and beverage industry, increasing orange consumption in emerging markets, and government initiatives promoting sustainable farming. Areas to watch include the growing demand for organic and sustainably sourced oranges, development of new orange varieties with enhanced flavor and shelf life, increasing consumer preference for fresh, locally sourced produce, expanding utilization of oranges in functional foods, and innovations in citrus-based wellness products.

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What's Fuelling The Growth of the Orange Market?

At the core of the formidable growth of the orange market is the escalating demand for nutritious and natural food. As diets are increasingly shifting towards minimally processed, additive-free foods that are rich in essential nutrients, oranges, endowed with high vitamin C content, antioxidants, and dietary fiber, are gaining more fans by the day. This shift towards health-conscious eating is not only propelling the growth of the orange market but also rejuvenating the entire food industry. In 2023, the Central Statistics Office Ireland reported an increase in wheat yield by 0.1 tons per hectare in 2022, and oat production also saw a more substantial rise of 0.2 tons per hectare. The drive for nutritious and natural foods is thus catalyzing the growth of the orange market.

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How Is the Orange Market Segmented?
The orange market is segmented by type, distribution channel, application, and end-user:
1 By Type: Sweet Orange, Navel Orange, Blood Orange, Red Orange
2 By Distribution Channel: Supermarkets, Convenience Stores, Online Retail, Farmer's Markets
3 By Application: Fresh Consumption, Juices, Marmalades, Culinary Use
4 By End-User: Households, Food And Beverage Industry, Pharmaceuticals, Cosmetics.

What Is The Key Trend In The Orange Market?
Major companies in the orange market are adopting advanced farming techniques to optimize the quality of oranges and meet consumer requirements. One such step involves the cultivation of yellowing-resistant orange varieties. For instance, in June 2023, Embrapa, a Brazilian agricultural research corporation, partnered with the Coopercitrus Credicitrus Foundation and the Sylvio Moreira Citriculture Center to launch Navelina XR. This is the first variety of orange that's naturally resistant to the disease-causing yellowing bacterium. By producing impactful and practical solutions such as these, companies are ensuring a steady demand for oranges.

Browse More Related Reports:
Orange Juice Global Market Report 2024

Organic Fruits And Vegetables Global Market Report 2024

Kiwi Fruit Global Market Report 2024

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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.