Orange Market - Growth, Trends and Forecasts (2019 - 2024)
Market Overview
The global orange production stood at 76.6 million metric ton in 2018 and is anticipated to grow at a robust growth rate, especially owing to the increasing demand for fresh oranges. High production capabilities and magnificent weather conditions contribute to the production of oranges. The production of oranges is majorly affected by several factors, such as environmental factors, bio stress, and government policies of the country. Spain is one of the major producers of citrus fruits, especially oranges. However, a rebound in the citrus production in the European countries may result in a reduction of imports from Spain.
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NEW YORK, Nov. 12, 2019 /PRNewswire/ -- The other important varieties of orange found are lane late from Australia, Navelate from Spain, and Newhall from California. The international trade in oranges mainly revolves around major exporters, such as Brazil and other countries in the European Union, which represents almost 60% of the entire international trade of oranges. Some of the top importers are China, the United States, and Turkey.
Scope of the Report
The report contains an analysis of various parameters of the global orange market. The study takes into account the commercial orange varieties as a commodity, comprising major development in the niche market. The report presents a wide-range analysis of production, consumption, import, and export of the global orange market.
Key Market Trends
The increasing world demand for fresh oranges is driving the market
The fresh orange production market is highly concentrated, with Brazil ranking first with a market share of almost 35%, followed by China, the European Union, and the US. In the US, Florida and California are the major orange-producing regions that are responsible for most of the world's orange production. About 90% of the orange produced in the US is domestically consumed either fresh or in processed form, only 9% of the oranges are exported to other countries. Most of the fresh oranges are used to produce various beverages including food drinks and juices. As the consumption of soft drinks is more frequent in summer, which in turn is inflating the seasonal demand and consumption, across the world.
The demand for oranges is at its peak during the months of November, December, and January, when the temperatures are a little lower. The growth in the European market is retained, especially in Germany, where the consumption of oranges has seen the strongest demand in recent years. Thus, the higher availability and production of fresh oranges, backed with favorable weather conditions is stimulating the seasonal consumption of oranges.
Brazil to drive the global orange demand trend
The consumption volume of oranges in Brazil was at 17.8 million metric tons in 2018 and is likely to witness a CAGR of 2.0% during the forecast period(2019-2024). Domestic consumption of fresh oranges is growing, as consumers demand regularly prepared fresh-squeezed orange juice in their homes, bakeries, and restaurants throughout the nation, as pasteurized juice, which is produced at factories that operate regionally in the country. The domestic market for fresh oranges has become a major consumer of Brazil's total production. More than 100 million boxes of oranges (40.8 kg) , which is equivalent to approximately 30% of Brazil's production are consumed by the Brazilian population annually. Major juice industries in Brazil used to export almost entire production to international destinations. Hence, the growing trend of juice shops with a variety of fruits, including orange extracts and pulp, in Brazil has led to the demand for fresh oranges consumption in the country.
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