Orange Terpenes Market Size

Orange Terpenes Market size was valued at USD 5.62 Billion in 2023 and is expected to exceed USD 15.21 Billion by the end of 2036, expanding at over 8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of orange terpenes is evaluated at USD 6.03 Billion. The growth of the market can be attributed to its growing demand in industries such as cosmetics and personal care for its sustainability and biodegradability. Also, as people are rapidly shifting towards self-grooming and focusing more on personal care, the demand for orange terpenes is estimated to grow owing to its vibrant aroma and fragrance for cosmetic products. For instance, the global cosmetics industry has been increasing at a rate of 3% every year, out of which personal care products made up almost 40% with a revenue generation of approximately USD 250 billion worldwide in 2022.

Apart from the aforementioned factors, the demand for orange terpenes is expected to increase on the account of increasing awareness about hazards using non-biodegradable products on humans as well as the environment. As, orange terpenes are 100% biodegradable and derived from natural products, the size of the market is expected to frow in the forecast period. In some parts of the world, several stringent rules are being implanted against the use of synthetic products, and non-biodegradable items are also estimated to increase the sales of orange terpenes. Also, the burgeoning millennial consumer who is willing to pay for premium products with a clean product is anticipated to bring in lucrative growth opportunities for market growth. In addition to the aforementioned factors, the escalation in investments by the government and key players to bring technological advancement in the fragrance and flavor sector is anticipated to increase the demand for orange terpenes in the future.