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Liquid Sunshine: Citrus Alcohol's Bright Future

According to current market research by FMI, the citrus alcohol market is anticipated to grow at a CAGR of 7.9%. The market is anticipated to reach US$ 1,272 million in 2023. The figures are projected to reach US$ 2,276.9 million by 2033.

Urbanisation brought on by inflation has raised disposable income. Consumer behaviours have altered as a result. Many people have started consuming more citrus alcohol because of its unusual flavour.

One of the key reasons influencing the market is the fact that these are healthful. In fact, experts suggest ingesting citrus alcohol in moderation since it supports a healthy heart. The chance of developing cancer is greatly reduced when citrus alcohol is consumed. All of these factors are expected to boost citrus alcohol sales during the projection period.

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Thus, the FMI researchers are of the view that ‘changing consumption patterns, increase in the disposable income, health benefits offered, and lots of other factors are expected to surge the citrus alcohol market share during the forecast period.’

Key Takeaways:

The market is expected to advance at a CAGR of 7.9% from 2023 to 2033.
In 2023, the valuation is expected to be at US$ 1,272 million.
By 2033, the market size is expected to breach the mark of US$ 2,276.9 million.
On the basis of regional analysis, North America is expected to be the largest market.
The United States market is expected to post a CAGR of 4.4%.
The United Kingdom market is projected to record a CAGR of 6.4%.
Spain market is anticipated to register a CAGR of 5.4%.
Germany market is expected to surge at a CAGR of 7%.
China market is projected to advance at a CAGR of 4.7%.
On the basis of product type, the spirit segment is expected to hold the leading market share, and is projected to record a CAGR of 6%.
On the basis of end user, the specialty stores segment is expected to hold the dominant position, and is anticipated to record a CAGR of 7.1%.
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Competitive Landscape

The key players operating in the market are investing millions of dollars in mergers and acquisitions. The focus is to increase the market share and serve maximum regions. The manufacturers are also investing on sustainable development programs. Thus, there are a lot of initiatives pertaining to water conservation in particular. The manufacturers are also adopting eco-friendly packaging, which would ensure that no pollution is caused due to land filling. There is also a lot of activity around implementing the latest technology. This would increase the efficiency of the machines, as a result of which the output might increase by more than five times.

Significant developments in the citrus alcohol market:

In December 2022, Carlsberg announced that it would acquire Waterloo brewing and strengthen its position in Canada market.
In December 2022, Encirc and Diageo announced hydrogen powered furnace to change the face of the United Kingdom glass manufacturing industry.

 

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Gel Air Fresheners Market Size, Share, Forecasts Analysis, Company Profiles, Competitive Landscape and Key Regions 2032

The global gel air fresheners market is estimated to reach ~US$ 1,291.1 Million in 2022 and is predicted to be valued at ~US$ 1,770.8 Million by 2032. The market is expected to witness moderate growth at a CAGR of ~3.2% from 2022 to 2032.

The market is expected to grow rapidly as the product is used to maintain a comfortable atmosphere in facilities, homes and vehicles. The global gel air freshener market has been growing lately due to the rapid changes in consumer behaviour and consumer views.

The main driver of growth is likely to be increasing demand for a wide range of fragrance products. The market is also expected to be significantly impacted by the increasing demand for aromatherapy throughout the projected period.

Asthma and allergies are some chronic conditions that some people suffer from. Products with chemicals are harmful to health. As a result, air fresheners made from organic fresh produce have become very popular around the world. Essential oils, organic candles and other chemical-free products are expected to be widely available in the market.

Consumer acceptance of the product has accelerated the gel air freshener market. Additionally, the gel air freshener market is growing due to increasing awareness of maintaining indoor air quality and customer acceptance of naturally smelling products.
In addition, the market growth has been significantly impacted by the economic crisis in major industrialized countries over the past five years. However, the market is likely to be heavily impacted by new product launches and an improving economy over the next decade.

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Key Findings from the Gel Air Fresheners market study:
In the historical period from 2017 to 2021, the global gel air freshener market exhibited a CAGR of 2.8%.
The US gel air freshener market is expected to witness moderate growth at a CAGR of 2.7% during the forecast period.
In China, gel air freshener sales are forecast to grow at CAGR 6.5% over the estimated period.
During the assessment period, India is expected to show and dominate in the South Asia region.
Based on application, the residential category is expected to be the global leader in gel air fresheners from 2022 to 2032 at a CAGR of ~3.7%.

“Consumers are willing to pay a higher price for specialty flavors, prompting air freshener manufacturers to expand their product lines, including gel air fresheners. As a result, market leaders are developing innovative approaches to meet increasing demand from fragmented consumers,” says an FMI analyst.

Competitive Landscape: Gel Air Freshener Market
Leading gel air freshener manufacturers mainly focus on aggressive promotional strategies, promotion and new product launches that would boost gel air freshener sales worldwide.
Leading players in the global gel air freshener market are Dyna Fresh, Sniff Drive, Dclario Technologies India Pvt Ltd., AEROZEL, Neuchatel Chemie Specialties, Aromate, P&P PRODUCTS, Power Line Packaging, Inc., Atlantic Paper & Supply, Larsen Packaging Products Inc., GT Midwest, Menshen Packaging USA, Inc., Alpha Lion Distributors Inc., Corporate Images, Inc. and Arizona Natural Resources, Inc. among others.

 

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