Global Citral Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Citral Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Citral appears as a clear yellow colored liquid with a lemon-like odor. Less dense than water and insoluble in water. Toxic by ingestion. Used to make other chemicals.

Market Overview:

The latest research study on the global Citral market finds that the global Citral market reached a value of USD 985.73 million in 2022. It’s expected that the market will achieve USD 1344.96 million by 2028, exhibiting a CAGR of 5.32% during the forecast period.

Under the public background of the COVID-19 crisis, the industry is being affected by COVID-19. It is currently impossible to accurately predict the degree of control of this epidemic in various countries, and it is impossible to predict whether it will function normally for long-term economic activities.

However, historical data shows that the impact of natural disasters on the macro economy is usually short-term, and the economy often shows a V-shaped trend. Affected by the disaster and market sentiment, the economic growth rate usually drops sharply in a short period of time, but as the disaster is gradually controlled, the market sentiment returns to stability, and the temporarily suppressed consumption and investment needs will be released, resulting in Economic rebound. The outbreak of the epidemic will have a significant impact on enterprises and individuals within a certain period of time, especially on small and medium-sized enterprises and low-income families. It is necessary for the government to take targeted financial and monetary measures to help all walks of life together.

Weakness

The production process of citral is difficult, and the enterprises with production capacity are very limited. Therefore, the citral market is highly concentrated. For downstream companies, due to the high barriers of key intermediate citral and its own synthesis process, VA has maintained a few companies in the world for more than a decade, and the pattern is very stable. This has also caused difficulties for new entrants in the downstream market.

Opportunities

The development of technology and the breakthrough of production process is one of the important driving factors for the industry in the future, but the lack of technological and technological breakthroughs will be one of the obstacles. Only through research and optimization of the winning process can production costs be reduced and profits can be maximized.

Region Overview:

Europe is projected to account for a considerable share of the Citral market and is expected to become the largest region by 2027.

Company Overview:

BASF is one of the major players operating in the Citral market, holding a share of 83.01% in 2020.

BASF

BASF is a chemical company. The Company operates in six segments, including chemicals, plastics, performance products, functional solutions, agricultural solutions, and oil and gas. BASF offers products for the chemical, automotive, construction, agriculture, oil, plastics, electrical, electronics, furniture, and paper industries, and provides a range of system solutions and services.

Zhejiang NHU Co., Ltd.

Zhejiang NHU Co., Ltd. was founded in 1999. In 2004, it was successfully listed on the Shenzhen Stock Exchange as the first SME board. The stock code is 002001. The company is a nationally recognized key high-tech enterprise focusing on the production of nutrients, flavors and fragrances, new polymer materials and APIs. It has four modern production bases in Zhejiang Xinchang, Zhejiang Shangyu, Shandong Weifang, and Heilongjiang Suihua, with leading products VE, VA, VD3, raspberry ketone, astaxanthin, linalool, etc.

Segmentation Overview:

Among different product types, Synthetic Citral segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Vitamin A segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Citral market covered in Chapter 3:

Yongzhou Samshiang Flavours & Fragrances Corporation
Zhejiang NHU Co., Ltd.
BASF
Kuraray
Robertet Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Citral market from 2018 to 2029 is primarily split into:

Natural Citral
Synthetic Citral

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Citral market from 2018 to 2029 covers:

Lemon essence
Vitamin A
Ionone
Menthol
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)