Growth opportunities and latent adjacency in Pectin Market
(I-BusinessNews.Com, December 19, 2019 ) The report "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", published by MarketsandMarkets. The global pectin market size is estimated to be valued at USD 1.0 billion in 2019 and is expected to reach a value of USD 1.5 billion by 2025, growing at a CAGR of 6.5% during the forecast period. Increase in functional food & beverage consumption, the multi-functionality of pectin, and the rise in the use of natural ingredients in foods due to greater consumer awareness about healthy diets is driving the global pectic industry.
The food & beverage application segment is estimated to account for a larger market share, in terms of value, in 2019
The food & beverage application segment dominated the pectin market. The growth of the food & beverage industry in developing economies is projected to propel the demand for pectin. The rise in per capita income and increase in the trend of snacking between meals are driving the demand for bakery & confectionery products, convenience foods, and dairy & frozen products.
The pharmaceutical & personal care products application segment is estimated to witness the fastest growth in the pectin market, in terms of value, in 2019 Pectin is used in the pharmaceutical industry as a stabilizer, binder, film-forming agent, and suspension agent. It is disintegrated in tablet formulations and is used in other topical therapeutic bases. It is one of the most important and widely used excipients in the pharmaceutical industry. The production of pharmaceutical products is growing because of the rising population and the increasing number of diseases. Emerging countries like China, Brazil, and India are markets that are growing rapidly in this area, which is projected to drive the global pectin market size. In the pharmaceutical industry, pectin is used to reduce blood cholesterol levels and gastrointestinal disorders. Pectin also helps to keep an emulsion from separating into its liquid and oil components. It also increases the thickness of the aqueous (water) portion of personal care and cosmetics products. Due to the multi-functionality and natural origin, pectin is gaining popularity in cosmetic applications such as lotions, after shower balms, aftershave creams, and gels.
Browse in-depth TOC on "Pectin Market"
87 Tables 56 Figures 181 Pages
The citrus fruits segment, by raw material, is estimated to account for the largest market share, by value, in 2019
Based on raw material, the pectin market is 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 contain active phytochemicals that can protect the health of the consumer, and in addition to this, they also abundantly provide vitamin C, folic acid, and potassium.
The demand for pectin has created opportunities for pectin manufacturers in the emerging markets
Developing countries, namely, China and India, are projected to experience a strong upsurge in demand for pectin. This demand is expected to be driven by an increase in the production of processed and convenience foods. Emerging economies such as India and China in Asia Pacific are exhibiting high growth. Asia Pacific also provides a cost advantage in terms of production and processing. The high current and projected demand, coupled with the low cost of production, is a key feature, which is expected to aid pectin suppliers and manufacturers to target this market.
Asia Pacific is projected to grow at the highest CAGR of 6.9% during the forecast period
Asia Pacific provides the highest potential for growth due to factors such as high economic growth of the emerging economies and the increasing disposable income of individuals in the region. In Asia, the demand for drinking yogurts and low pH protein drinks is high, in which pectin is used as an essential ingredient, as it enhances the quality of products. Hence, investments by key manufacturers such as CP Kelco (US) in the Asian region is increasing. The rapidly growing economies in the Asian countries, particularly India and China, and the increasing demand for functional foods across the region is projected to drive the pectin market growth during the forecast period.
This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies operating in the pectin market. It includes the profiles of leading companies such as DowDupont (US), Cargill, Incorporated (US), Ingredion Incorporated (US), CP Kelco (US), Tate & Lyle PLC (UK), Koninklijke DSM N.V. (Netherlands), Naturex (France), Lucid Colloids Ltd (India), Silvateam S.p.A (Italy), Compañía Española de Algas Marinas S.A (CEAMSA) (Spain), Herbstreith & Fox Corporate Group (Germany), Yantai Andre Pectin Co. Ltd. (China), B&V Srl (Italy).
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