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the demand for citral is being driven by the rising demand for bio-based products brought on by growing environmental concerns.

NEW YORK CITY, U.S., UNITED STATES, July 18, 2023/EINPresswire.com/ -- In 2022, the value of the Citral Market was USD 210.5 Million. It is projected to grow at a CAGR of 4.1% during the forecast period, reaching USD 302.4 Million in 2032. The primary factors contributing to this revenue growth are the increasing demand for Citral in the fragrance sector and its expanding applications in the food and beverage industries.

Citral plays a vital role in providing a citrus scent to perfumes and colognes, making it an essential ingredient in their manufacturing. The rising preference of customers for premium and long-lasting fragrances is a key driver behind the demand for Citral in the fragrance industry. The growing purchasing power of consumers, particularly in emerging economies, is fueling the demand for high-end perfumes. Furthermore, the market revenue growth is being driven by the increased awareness of personal cleanliness and grooming, leading to a higher demand for perfumes and colognes.

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Citral Market Segments:

The global Citral Market has been segmented based on source type, application, and region. In terms of source type, the market is categorized into natural and synthetic Citral. Regarding application, it is divided into fragrances, flavors, pharmaceuticals, and others. The market scope covers various regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

According to the market report, the estimated market value of Citral in 2022 was USD 210.5 Million, with a projected compound annual growth rate (CAGR) of 4.1% from 2022 to 2032. The forecasted revenue for the Citral Market in 2032 is expected to reach USD 302.4 Million. The base year for estimation is 2022, with historical data ranging from 2020 to 2021. The forecast period for the market is from 2022 to 2032, and the quantitative units used for measurement are in USD Million.

The report provides comprehensive coverage of the Citral Market, including revenue forecasts, company rankings, competitive landscape analysis, growth factors, and emerging trends. It explores the market segments based on source type, application, and region, providing insights into each segment's market potential and growth prospects. The regional scope of the market encompasses North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Citral Market Strategic Developments:

In 2021, BASF SE announced the acquisition of Isobionics, a Dutch biotech company that specializes in the production of Natural Flavors and fragrances. The acquisition is aimed at expanding BASF’s portfolio of natural ingredients and meeting the growing demand for natural and sustainable products.
In 2020, Zhejiang NHU Co., Ltd. announced the launch of its new citral plant in Zhejiang, China. The new plant is expected to enhance the company’s production capacity of citral and cater to the increasing demand for natural and organic ingredients in various industries.

In 2020, Kalpsutra Chemicals Pvt. Ltd. announced the expansion of its citral production capacity in India. The expansion is aimed at meeting the growing demand for citral in the food and beverage industry and strengthening the company’s market position.

Citral Market Competitive landscape:

The global Citral Market is characterized by the presence of several prominent companies. Among these key players are BASF SE, Zhejiang NHU Co. Ltd., Kalpsutra Chemicals Pvt. Ltd., Jiangxi Xuesong Natural Medicinal Oil Co. Ltd., and Rajkeerth Aromatics and Biotech Pvt. Ltd.

BASF SE is a well-established company operating in various industries, including chemicals and materials. With their expertise and extensive research capabilities, they play a significant role in the Citral Market. Zhejiang NHU Co. Ltd., based in China, is another major player known for its production of fine chemicals, vitamins, and fragrances. Their presence in the Citral Market contributes to its growth and development.

Kalpsutra Chemicals Pvt. Ltd. is a leading Indian company specializing in the production of aroma chemicals, including Citral. Their commitment to quality and innovation has helped them establish a strong presence in the market. Jiangxi Xuesong Natural Medicinal Oil Co. Ltd., based in China, is known for its production of natural essential oils, including Citral. Their focus on natural products resonates with the increasing consumer preference for natural ingredients.

Rajkeerth Aromatics and Biotech Pvt. Ltd., an Indian company, is involved in the manufacturing and export of a wide range of aroma chemicals, including Citral. Their dedication to customer satisfaction and product quality contributes to their position in the Citral Market.

These companies, along with others in the industry, play a crucial role in shaping the global Citral Market through their production capabilities, research and development efforts, and market strategies.

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