Lime Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 42.35 Billion |
| Market Size (2029) | USD 47.22 Billion |
| CAGR (2024 - 2029) | 2.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Lime Market Analysis
The Lime Market size is estimated at USD 42.35 billion in 2024, and is expected to reach USD 47.22 billion by 2029, at a CAGR of 2.20% during the forecast period (2024-2029).
- The global lime market is experiencing steady expansion, driven by its diverse applications in fresh consumption, beverages, flavoring, and processed foods. The fruit's flavor, nutrient content, and versatility contribute to its widespread use. Limes' high vitamin content and antioxidant properties make them particularly appealing in health-conscious consumer markets.
- Major lime-producing countries include India, Mexico, China, Argentina, Brazil, and Turkey. According to the Food and Agriculture Organization (FAO), the global lemon and lime cultivation area reached 1.3 million hectares in 2022, with India contributing about 23.5% and Mexico about 15.1% of the total acreage.
- In 2023, global lemon and lime exports amounted to about USD 3.84 billion. Spain, Mexico, South Africa, Turkey, and the Netherlands emerged as the leading exporters in this market. Spain dominated with a 22.3% share of total exports, closely followed by Mexico at 18.8%, according to the ITC Trade Map. The Persian or Tahitian lime variety maintained its position as the most widely produced type globally, with Mexico leading its production. These figures highlight the significant role of these key exporting countries in meeting the worldwide demand for lemons and limes.
- Climate change poses a significant challenge to lime production, as shifts in temperature and rainfall patterns impact both crop yields and quality. Adapting to these environmental changes is crucial for ensuring the long-term sustainability of the lime market.
Lime Market Trends
Lime Serves a Diverse Range of Industries
- Lime is a crucial ingredient in various industries due to its versatility and unique properties. In the food and beverage sector, it is extensively used in products such as pickles, juices, and flavor enhancers. According to the Food and Agriculture Organization (FAO), global lime production reached about 21.5 million metric tons in 2022, driven by growing demand across food, beverage, and industrial sectors. Lime adds a distinctive tang to dishes like ceviche and beverages such as mojitos. Its unique taste distinguishes it from other citrus fruits, making it highly sought after by global food and beverage brands.
- Limes, characterized by their high oil content, particularly limonene in the rind, find extensive use in cosmetics, essential oils, pharmaceuticals, and cleaning products. The cosmetics industry increasingly incorporates lime-based derivatives for their aromatic and beneficial properties, driving demand for skincare and personal care products. This growing demand has led to a significant increase in lime imports. For instance, according to the U.S. Department of Agriculture (USDA), the value of lime imports to the United States increased from USD 732.2 million in 2022-2023 to USD 859.9 million in 2023-2024.
- The consistent demand from these diverse sectors is driving global lime production upward. Ongoing research is identifying additional applications for lime-based compounds. This expanding range of uses underscores lime's increasing importance within the global lime market, supporting its production and economic value across multiple sectors.
Asia-Pacific Dominates the Market
- India led lime production in Asia-Pacific, producing 3.7 million metric tons in 2022. China followed with 2.6 million metric tons, while Thailand produced 0.1 million metric tons. Other significant lime-producing countries in the region include Indonesia, Vietnam, and the Philippines. These nations also have high domestic lime consumption, as it is a common ingredient in many local dishes.
- The lime market is projected to grow in the coming years, driven by increasing demand for lime-based products, favorable cultivation conditions, and government initiatives to increase agricultural output. For instance, in February 2023, the Indian government launched the Clean Plan Programme (CPP), investing USD 211.8 million to enhance the productivity and quality of fruit crops, including lime. The program aims to provide farmers with high-quality, virus-free planting material.
- Acid lime or key lime is one of the most commercially important citrus varieties in India, valued for its versatility. Popular Indian lime varieties include Punjab Baramasi, Eureka, Rasraj, and Assam Lemon. Lime growers are increasingly adopting advanced cultivation techniques to improve yields and meet both domestic and international market demands. The growing use of lime in culinary, cosmetic, and industrial applications is projected to continue driving market expansion across the Asia-Pacific region.
Lime Market News
- June 2023: The Indian lime variety "Kagzi" has been granted a Geographical Indication (GI) tag by the Union Government for a period of eight years. This marks the second lime variety to receive such recognition, following the Assam variety. The GI tag acknowledges the unique characteristics and geographical origin of the "Kagzi" lime, distinguishing it from other lime varieties in the market.
- October 2022: The Indian Council of Agricultural Research (ICAR) developed a new variety of lime called Thar Vaibhav. This variety has an average fruit-bearing capacity of 60 kg and begins fruiting in the third year after planting.
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
4.2.1 Rising Demand for Healthy and Natural Products
4.2.2 Expanding Food and Beverage Applications
4.2.3 Emerging Markets and Changing Consumer Preferences
4.3 Market Restraints
4.3.1 Price Volatility and Supply Chain Challenges
4.3.2 Perishable Nature and Limited Shelf Life
4.4 Value Chain/Supply Chain Analysis
5. MARKET SEGMENTATION
5.1 Geography (Production Analysis, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis)
5.1.1 North America
5.1.1.1 United States
5.1.1.2 Canada
5.1.1.3 Mexico
5.1.2 Europe
5.1.2.1 Spain
5.1.2.2 Italy
5.1.2.3 France
5.1.3 Asia-Pacific
5.1.3.1 China
5.1.3.2 India
5.1.3.3 Thailand
5.1.4 South America
5.1.4.1 Brazil
5.1.4.2 Argentina
5.1.5 Africa
5.1.5.1 South Africa
5.1.5.2 Egypt
5.1.5.3 Sudan
5.1.5.4 Algeria
5.1.5.5 Tunisia
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Lime Industry Segmentation
Lime is a citrus fruit consumed for various purposes. Lime Market is segmented by Geography (North America, South America, Europe, Asia-Pacific, and Middle-East, and Africa). The report includes production analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and price trend analysis. The report offers the market size and forecasts in terms of value in (USD) and volume in (Metric Tons) for all the above segments.
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Lime Market Research Faqs
How big is the Lime Market?
The Lime Market size is expected to reach USD 42.35 billion in 2024 and grow at a CAGR of 2.20% to reach USD 47.22 billion by 2029.
What is the current Lime Market size?
In 2024, the Lime Market size is expected to reach USD 42.35 billion.
Which is the fastest growing region in Lime Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Lime Market?
In 2024, the Asia-Pacific accounts for the largest market share in Lime Market.
What years does this Lime Market cover, and what was the market size in 2023?
In 2023, the Lime Market size was estimated at USD 41.42 billion. The report covers the Lime Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Lime Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Lime Industry Report
Statistics for the 2024 Lime market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. 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.
Lime Market Report Snapshots
