Spain Lime Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Spain Lime Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Spain lime market is projected to register a CAGR 4.6% during the forecast period(2020-2025). Spain is the largest producer of lime in the European region. Over the years, the lime has become an important part of many culinary dishes, and for decoration of dishes also. Excellent growing conditions, modern packinghouses, and market accessibility are driving the market. According to the Food and Agriculture Organisation (FAO), in 2016, the lime production amounted to 0.9 million metric tons which increased to 1.08 million metric tons in 2018. The production of exotic limes such as finger limes has shown an uplift in recent years because the exotic limes are premium priced and are in high demanded too. The domestic consumption of lime is increasing every year with a positive trend, which makes the country produce more to cater to domestic demand. The attractive export market is another factor driving the growth of the market.

Key Market TrendsGrowing Demand for Lime Ingredients is Encouraging the Production

The production of lime in Spain is continuously increasing due to the growing demand for foods that include lime as an ingredient (including juice, jams, bakery, and confectionery) in Spain. The growing demand for limes due to health benefits will drive the market during the forecast period. Lime is used as an ingredient in the production of pectin, citric acid, lime oil, lime juice, and many other products. The growing demand creates a steady demand for these products throughout the year. Pectin and citric acid are two products that have witnessed a continuous demand as they are primary ingredients in a jam preparation. The strong demand from consumers for lime is accelerating the production of these limes, which is encouraging the lime production in Spain to cater to the demand. According to FAO, in 2018 Spain produced 1.08 million metric tons of lemon. The area harvested under limes and lemons in 2018 increased to 46,010 hectares from 41218 ha in 2016 in the country.

Rising Export Market

The strong demand from consumers and its wider application in the food industry are accelerating the production of the limes leading to higher export of lime from the country. The export market in the country is likely to grow steadily during the forecast period, given high domestic demand in the European Union region and from the other countries. According to ITC Trade, in 2016, the country exported USD 820.3 million of lime and lemons which increased to USD 828.6 million in 2019. The volume of export in 2016 was 547,419 tons which increased to 734,292 tons in 2019. Spain usually exports lime to other European countries such as Germany, France, the United Kingdom, and Italy with a share of 30.8%, 18.3%, 10.1%, and 8.4% respectively.

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Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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