DUBLIN, Oct. 21, 2019 /PRNewswire/ -- The "Pectin Market by Type (HM Pectin, LM Pectin), Raw Material (Citrus Fruits, Apples, Sugar Beet), Function, Application (Food & Beverages, Pharmaceutical & Personal Care Products, Industrial Applications), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global pectin market is estimated to be valued at USD 1.0 billion in 2019 and is projected to reach USD 1.5 billion by 2025, recording a CAGR of 6.5%.
Factors such as an increase in the consumption of convenience foods rise in health consciousness among consumers, and multi-functionality of pectins, leading to its widening scope in applications and an increase in the demand for natural pectin is driving the growth of the global pectin industry.
The food & beverages segment projected to be the largest segment in the pectin market during the forecast period
Pectin increasingly finds use in the food & beverages, pharmaceutical & personal care products, and industrial applications. Pectins are used in various food & beverage applications such as jams, jellies, and spreads; bakery & confectionery; beverages; dairy products; and other applications such as meat & poultry products, sauces & dressing, baby food, and prepared foods. They are used in various dairy products, such as ice cream and milk, where they act as stabilizing, thickening, and gelling agents.
Pectins also improve the cooking yield and texture in meat & poultry products. They affect the viscosity of water-based food products and beverages, acting as binding agents. Pectin is used to improve the quality, texture, and stability of baked foods; whereas, in sauces & dressings, it acts as a water binder and stabilizer.
The citrus fruits segment to witness the fastest growth during the forecast period
By raw material, the pectin market has been segmented into citrus fruit, apple, sugar beet, and others, which include sunflower, pear, guava, quince, plum, and berries. The demand for citrus fruits from the pharmaceutical & personal care industries has drastically increased over the last decade.
Citrus fruits form the segment in the pectin market across the globe; they contain active phytochemicals that can protect the health of the consumers, and in addition to this, they also abundantly provide vitamin C, folic acid, and potassium. Sugar beet pectin extracts show a potential role as an emulsifier apart from a gelling agent, due to which it becomes a possible substitute for gum arabic as less quantity is required to activate the oil-water interface.
Europe market is estimated to account for the largest market share due to the high demand from Asia Pacific regions
In 2019, Europe is estimated to hold the largest market share as the region Factors influencing its market dominance include high demand for functional dairy products, convenience foods, higher per capita consumption of jam & jellies and baked goods, and the presence of prominent players in the region. The Asia Pacific market is projected to grow at the highest CAGR in terms of value during the forecast period, driven by the growing demand for convenience foods, functional dairy products, and baked goods, coupled with the changing lifestyle trends in the region.
- Rise in the Consumption of Premium Food & Beverage Products
- Multi-Functionality of Pectins Leading to Demand From Newer Applications
- Growing Need for Pharmaceuticals
- Stringent Regulations and Need for Quality Standards
- Fluctuating Prices of Pectin and Its Products
- Emerging Markets Illustrating Great Potential for Pectin
- Increase in Investments in Research & Development
- Development of Pectin Substitutes
- Unclear Labeling Leading to Ambiguity and Uncertainty
- B&V SRL
- Cargill, Incorporated
- Compaa Espaola De Algas Marinas S.A (CEAMSA)
- CP Kelco
- Herbstreith & Fox Corporate Group
- Ingredion Incorporated
- Koninklijke DSM N.V.
- Lucid Colloids Ltd
- Silvateam S.P.A
- Tate & Lyle Plc
- Yantai Andre Pectin Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/p3mh24
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