Australia Lime Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.89 % |
Australia Lime Market Analysis
The Australia Lime Market size is expected to grow from USD 315.90 billion in 2023 to USD 382.31 billion by 2028, at a CAGR of 3.89% during the forecast period (2023-2028).
- Lime is used to produce citric acid, lime oil, lime juice, and other products used in household food items and chores. Therefore, the growing demand for the products will eventually increase the demand for lime. As a result, the growing interest in health benefits and cleaning applications will be a significant force driving the market. Lime is a versatile fruit with various uses, including as an ingredient in food products, cleaning agents, and personal care items. As the demand for these products increases, lime as a raw material will also rise.
- Lime is an excellent citric acid source, used as a natural preservative in food and beverage products. Additionally, lime juice and lime oil are popular ingredients in the cosmetic and personal care industries, as they offer a range of health benefits for the skin and hair.
- Furthermore, lime's natural cleaning properties make it a popular ingredient in household cleaning products, as it can effectively remove stains, grease, and other dirt from various surfaces. The growing interest in eco-friendly and natural cleaning solutions has also increased the demand for lime-based cleaning products. The need for lime will continue to grow due to its versatility and various applications in different industries.
- According to the Sydney Markets, lime is plentiful and reasonable when purchased in bulk, costing USD 3-USD 7 per kilo or 30-60 each. The price of limes is slightly higher in significant supermarkets, especially during the summer, due to increased demand for the fruit, as consumers are encouraged to utilize limes in tropical cocktails and cooking/salads.
- Even though lemons are abundantly found nationwide, a few regions are known for their production. These areas include Darwin, Lismore, Riverland, Bundaberg, and Burnett. Due to emerging research, a few more variants have permeated the market. Some variants are Allen Eureka, Eureka Seedless, Eureka SL from South Africa, Genoa, and Limoniera 8A.
- The country produces nearly 30,000-40,000 tonnes of limes yearly, with 28,000-35,000 tonnes produced year-round in Far North Queensland(FNQ). Limes, such as lemons, are the primary source of revenue for most FNQ growers. Further, the national exports are anticipated to increase slowly year on year.
Australia Lime Market Trends
Unique Health Benefits of Lime is Driving Australia Exports
- Lime is a fruit that has several unique health benefits. Lime is an excellent source of vitamin C, a powerful antioxidant that helps to protect the body from damage caused by harmful free radicals. Vitamin C also supports the immune system, helps the body absorb iron from plant-based foods, and plays a crucial role in collagen production, essential for maintaining healthy skin, bones, and blood vessels. Overall, the unique health benefits of lime make it a great addition to a healthy and balanced diet. As consumers become more health-conscious and aware of the benefits of consuming nutrient-dense foods, the demand for lime and other healthy fruits will likely continue to grow.
- Australia is increasing its export of limes, with the government encouraging farmers to export limes. Only 4% of Australian limes are exported, with 87% sold on the domestic market. Seasonal market behavior has increased with time-specific consumption of lime and lime products, keeping the market in line and moving forward. According to the International Trade Center (ITC) Trade Map, Indonesia was Australia's major importer of lemons and limes, with 2,838 metric tons in 2021.
- The higher prices in international markets, increase in the policy initiatives such as reduction in tariffs, especially concerning Indonesia, and accessible markets to export concerning Singapore and Hong Kong are expected to drive the lemon and lime exports during the forecast period. Indonesia-Australia Comprehensive Economic Partnership Agreement has enabled the export of various agricultural products like oranges and limes with increased duty-free access and has paved the way for more excellent trade opportunities.
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Production and Import Analysis of Limes
- Lime is a climate-sensitive crop, and adverse weather conditions can significantly impact its production. Australia has experienced various extreme weather events in recent years, including droughts, floods, and heat waves, which can all affect lime production.
- Additionally, the COVID-19 pandemic impacted global supply chains and disrupted trade flows, affecting lime production and export in Australia. Lime production accounted for 39.7 thousand tons in 2018, which reduced to 39.4 thousand tons in 2020.
- According to the Bureau of Meteorology, 2018 was the third hottest year of Australia, and in addition to it, November 2019 rainfall was the lowest on record for Australia. But the production increased in 2019 by 4% compared to 2018. The pandemic decreased production in 2020 in the country by 4.6% compared to 2019. The production increased in 2021 and is expected to grow during the forecast period. However, Australia imports lime from the United States, Egypt, and Spain to meet the domestic demand. The imports exponentially increased 2020 by 60.3% compared to 2019 due to the country's reduced production.
- Egypt is expected to be a significant exporter during the forecast period. Lately, Australia is witnessing an increase in lemon plantings, as well as an increase in new growers entering the industry, according to Citrus Australia. With the rise in lemon plantings and new growers entering the industry, Australia has an excellent opportunity to capitalize on this demand and export its high-quality produce to international markets. Australia's strong reputation for delivering high-end produce is a significant advantage in the global market. Consumers worldwide are becoming increasingly concerned about food safety and quality. They are willing to pay a premium for products that have undergone rigorous inspections along all supply chain stages. Australia can position itself as a top player in the global lemon market by ensuring its produce meets these high standards.
Australia Lime Market News
- November 2022: AgriFutures Australia started its plan for lime production, where the themes, strategies, and activities have been developed to enable tangible and beneficial outcomes for the Australian native finger lime industry.
- July 2020: The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) came into force on 5th July 2020, under which limes will get increased duty-free access and fetch a great opportunity for Australian farmers to export limes to Indonesia, which is also currently the largest importer of limes from Australia.
Australia Lime Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
5. MARKET SEGMENTATION
5.1 Production Analysis
5.2 Consumption Analysis
5.3 Export Market Analysis (Volume and Value)
5.4 Import Market Analysis (Volume and Value)
5.5 Price Trend Analysis
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Australia Lime Industry Segmentation
Lime (citrus) is a small, lemon-shaped, greenish-yellow citrus fruit with a juicy, sour pulp, rich in ascorbic acid and an excellent source of vitamin C.
The Australia lime market offers an analysis of production (volume), consumption (value and volume), import (value and volume), export (value and volume), and price trend.
The market sizing has been done in value terms in USD for all the abovementioned segments.
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Australia Lime Market Research FAQs
What is the current Australia Lime Market size?
The Australia Lime Market is projected to register a CAGR of 3.89% during the forecast period (2024-2029)
What years does this Australia Lime Market cover?
The report covers the Australia Lime Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia Lime Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Australia Lime Industry Report
Statistics for the 2024 Australia Lime market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Australia Lime analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Australia Lime Market Report Snapshots
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