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Press Release: Citrus Pectin Market to Surpass US$ 965.5 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Definition of Market/Industry:
Citrus pectin is a naturally occurring polysaccharide found in citrus fruits such as oranges, lime, and lemons among others. Citrus pectin can be used as a thickening agent when heated with sugar. These characteristics of citrus pectin are used for manufacturing jams and jellies among others. Moreover, citrus pectin has applications in industries such as food and beverages, pharmaceuticals, and personal care & cosmetics. On the basis of product type, citrus pectin market is segmented into high methoxyl pectin, and low methoxyl pectin.
Statistics:
The citrus pectin market was valued at US$ 547.2 Mn in 2018 and it is expected to reach US$ 965.5 Mn by the end of 2027, exhibiting a CAGR of 6.7% during the forecast period (2019 to 2027).
Drivers:
Increasing demand for citrus pectin in the baking and confectionery industry is expected to drive the market growth during the forecast period. Pectin is used as a sugar replacer or a fat in low calorie foods and bakery jams. The demand for citrus pectin from the confectionery industry is increasing as it is used in jams and jellies to provide a gel-like structure and facilitate the release of good flavor. Citrus pectin is also helpful in enhancing the color, texture, and shelf life of confectionary products.
High-methoxyl and low-methoxyl pectin are both used in the confectionery industry. While substituting low-methoxyl pectin with high-methoxyl pectin, the confectioneries need to use 10% more pectin for achieving a similar level of firmness that can be achieved by use of low-methoxyl pectin.
In bakery products such as cakes and pastries, the gelling characteristics of pectin help in preventing discoloring of fruits, and from drying out. The U.S. Food and Drug Administration recognized the use of citrus pectin as safe, when it is used as an emulsifier and thickener.
Statistics:
Figure 1. Global Citrus Pectin Market Share (%), By Region, 2018
Market Restraints
Increasing side effects associated with the consumption of citrus pectin are expected to hamper the global citrus pectin market growth. Citrus pectin is obtained from citrus fruits such as orange among others. Although, it is a natural source of pectin, it can have side effects such as gas, bloating, and loose stools among others. Also, people allergic to citrus fruits cannot consume citrus pectin-based products.
Moreover, citrus pectin can reduce the human body’s ability to absorb beta-carotene, which is an important nutrient, and other drugs such as Digoxin (a heart medicine), Tetracycline antibiotics, and Lovastatin (a cholesterol-lowering drug), among others. This is expected to hamper growth of global citrus pectin market during the forecast period.
Market Opportunities
Pharmaceutical applications of citrus pectin are expected to fuel the market growth over the forecast period due to the increasing shifting towards natural and plant-based products for treating various diseases. Citrus pectin finds numerous pharmaceutical applications due to its use as binder, suspension agent, stabilizer, binding agent, and film forming agent.
The pectin is also being disintegrated in various tablet formulations and as a component in topical therapeutic bases. The pharmaceutical industry is also making use of citrus pectin as excipients. In the pharmaceutical industry, citrus pectin is also used extensively for treating gastrointestinal disorders and for reducing blood cholesterol levels. It is also useful in treating various kinds of metal poisoning and cancers.
Market Trends/Key Takeaways
New product developments are expected to propel the global citrus pectin market growth over the forecast period. Moreover, there is an increase in demand for new or innovative products which contain high nutritional content.
For instance, in December 2019, CP Kelco launched ‘Nutrava’ at the Food Ingredients Europe Conference and Exposition in Paris. Nutrava is a citrus fiber, which is a clean-label ingredient and is sustainably sourced and produced. This is expected to help the company expand its product portfolio. Moreover, in June 2018, Fiberstar, a biotechnology company, launched ‘Citri-Fi 150’, a natural fiber for pet food & treats. Citri-Fi 150 is a cost-effective fiber, which is used to improve texture, nutrition, and quality of companion pet food products, and thereby, expand the company’s product portfolio.
Figure 2. Global Citrus Pectin Market Share, By Application, 2018
Based on application, food segment accounted for the largest revenue share of 76% in terms of value in 2018, followed by beverages, pharmaceuticals, and personal care & cosmetics segment.
Competitive Section:
Company Names
Recent Developments
Silvateam S.p.A
Herbstreith & Fox GmbH
Global citrus pectin market is expected to exhibit a CAGR of 6.7% over the forecast period, owing to increasing awareness about the use of modified citrus pectin. Modified citrus pectin is a chemically altered pectin which can be readily absorbed by the gut. Moreover, modified citrus pectin is helpful in preventing high cholesterol, spread of cancer, for treating people suffering with metal poisoning, and for lowering the risk of heart diseases. However, the various side effects of consuming citrus pectin such as gas, and bloating among others are expected to hamper the growth of the global citrus pectin market during the forecast period.
Among product type, low methoxyl pectin is expected to gain a significant market share during the forecast period owing to increasing demand for products such as sugar free juices, and jellies. This demand is owed to rising awareness about health & fitness, globally.
Among regions, Asia Pacific is expected to gain significant market share during the forecast period owing to increasing use of citrus pectin in pharmaceutical applications. For instance, in May 2019, according to an article published by India Brand Equity Foundation, the pharmaceutical industry in India was valued at US$ 33,000 million in 2017, and generic drugs (such as modified citrus pectin tablets) accounted for 20% of the total drugs exported, making India the largest generic drugs supplier. The increasing number of exports of generic drugs from India is expected to propel growth of citrus pectin market in the country.
Furthermore, to cater to increasing demand from pharmaceuticals and food applications in Asia Pacific, manufacturers are starting new plants. For instance, Anhui Jinfeng Pectin Co., Ltd started a new 1,000 tons pectin plant in early 2016. The plant mainly extracts pectin from lemon, apple, and orange peels to manufacture high methyl ester and low methyl ester pectin for pharmaceutical as well as food applications.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
* Browse 50 market data tables* and 40 figures* on "Citrus Pectin Market” - Global forecast to 2027.
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