A new survey finds that the citrus production industry in the U.S. is booming.
According to the report, Citrus Growers Association (CGA) and the Association of Fruit Growers and Producers (AFPGP) said in a statement today that the market for citrus was worth $1.4 billion in the first half of 2018.
In the same quarter, the industry grew $1 billion, according to the Gensler report.
CGA and AFPGP are the umbrella groups for the entire citrus industry.
They were founded in 2013 and have grown rapidly since then.
The report said that citrus production was up 3.6% year over year in the third quarter, and the industry saw a 4.1% increase in total revenue in the quarter ending June 30, 2018.
It said the industry is forecast to be $1 trillion by 2040.
A key reason for the industry’s growth is the rise of Chinese demand for citrus products.
The country’s growing economy, which is expected to create over 200,000 jobs by 2045, has allowed more people to shop for citrus fruit, which has been a major source of income for the citrus companies in the United States.
“The industry is well positioned to meet demand for its products and to grow even stronger,” said CGA President Tom Miller.
“Citrus is a global industry that has an important impact on the environment and is a critical source of jobs for U.s. workers.”
The report also said that the industry has seen a rise in the amount of money spent on research and development, which accounts for 20% of the industry revenue.
“Research and development spending on citrus products has increased over the last decade, and CGA estimates that it will reach $8.2 billion by 2025,” said AFPGA President John Ragan.
“We are proud to see the industry continues to grow, and look forward to seeing more jobs created in the citrus field.”