Impact Analysis of Covid-19
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.
Pectin is used as a thickening agent in the preparation of food products such as jams, jellies, and other products to gel and thicken it. Pectin occurs naturally and is mostly found in fruits such as apples and oranges. Pectin is a carbohydrate substance that is present in and around of plant cell walls. They can be classified into high methoxyl pectin and low methoxyl pectin.
The global Pectin market is projected to surpass US$ 1,076.0 million by the end of 2027, in terms of revenue, growing at CAGR of 4.6% during the forecast period (2021 to 2027).
The growing demand for hydrocolloids from the food and beverage industry is propelling the market growth of the pectin. It is used as a hydrocolloids ingredient in a food product to provide stability and enhance the viscosity of edible products. The adhesive properties of pectin enable the food product to naturally congeal the constituent of food ingredients. Moreover, increasing consumption of processed food products around the globe is further fueling the market growth of the pectin.
Rising demand for natural ingredients due to growing health-conscious consumers is driving the market growth of pectin. The growing prevalence of chronic diseases such as diabetes, obesity, and cardiac issues has further raised the demand for pectin. Moreover, pectin and its derivatives are rich in vitamin C, pectolytic enzymes, fiber, carotenoids, vitamin B, and other salts. Furthermore, it has a low calorie and fat-free nature of the fruit which makes it ideal for food ingredients.
Europe region dominated the global Pectin market in 2020, accounting for 39.3% share in terms of volume, followed by North America, and Latin America, respectively. As a result of rising demand for dairy and functional foods, as well as product innovation.
Figure 1. Global Pectin Market, Revenue Share (%), By Region, 2020
The high cost of pectin based products due to higher production cost as compared to synthetic vitamin C is restricting the adoption of pectin. This factor limits product usage only to a few demographics such as high class consumer and urban population, thereby hampering the market growth of the pectin.
Strict rules and regulations regarding pectin usage in the food &beverage industry is hindering the market growth. Moreover, the growing need for a quality standard is creating challenges for the manufacturer, thus inhibiting the market growth of the pectin.
Pectin Market Report Coverage
||Market Size in 2019:
||US$ 776.6 Mn
|Historical Data for:
||2017 to 2019
||2021 to 2027
|Forecast Period 2021 to 2027 CAGR:
||2027 Value Projection:
||US$ 1,076.0 Mn
- North America
- Asia Pacific
- Rest of World
- By Product Type: High methoxyl pectin, Low methoxyl pectin
- By Application: Jams & Jellies, Beverages, Bakery Fillings & Toppings, Dairy Products & Frozen Desserts, Confectionery, Meat & Poultry Products, Dietary Supplements, Functional Food, Pharmaceutical, Personal Care & Cosmetics, Others
CP Kelco, Cargill, Incorporated, DuPont | Danisco, Herbstreith & Fox, Yantai Andre Pectin Co., Ltd, Naturex group, Silvateam Food Ingredients, CEAMSA ,and Lucid Colloids Ltd.
- Increasing demand for hydrocolloids from the food and beverage industry
- Increasing demand for natural ingredients due to growing health-conscious consumers around the globe
|Restraints & Challenges:
- The high cost of pectin based products due to higher production cost as compared to synthetic vitamin C
- Strict rules and regulations regulating the use of pectin in the food and beverage industries
Robust growth in gluten-free bakery products is projected to offer potential market opportunities in the near future. Pectin is one of the natural, safe, and ideal alternatives to gluten-based products. Thus, the growing demand for gluten-free products due to the rising prevalence of celiac disease around the globe is driving demand for pectin based food products. Also, increasing consumption of gluten-free bakery products is propelling the market growth of the pectin over the forecast period.
Increasing demand for low-fat food and beverages is expected to serve major growth opportunities over the forecast period. The increasing participation of consumers in sports activities and the growing adoption of a healthy lifestyle is boosting demand for low-fat food &beverages. Also, increasing prevalence of various lifestyle disorders such as obesity and diabetes is again propelling demand for low-fat food and beverages, this in turn fostering the market growth of the pectin.
Figure 2. Global Pectin Market – Opportunity Analysis
Ready-to-drink and on-the-go drink products are gaining traction around the globe due to the hectic lifestyle of the consumers. Various manufacturers are introducing hydrocolloid products for ready-to-drink and on-the-go beverages products. For instance, in March 2017, Gellan CP Kelco, launched Kelcogel HM-B gellan gum, hydrocolloid products designed to offer a suspension of cocoa and minerals in ready-to-drink dairy-based beverages.
Growing investment in the pectin industry by the key manufacturer is projected to contribute to the market growth of pectin. For instance, in May 2017, Cargill to invest $150 million in a new pectin plant. The new plant will produce HM pectin, a versatile texturizing agent extracted from citrus fruits to help meet the growing and global demand for label-friendly pectin’s for fruit preparations, dairy, confectionery, and bakery food applications.
Figure 3. Global Pectin Market, Revenue Share (%), By Product Type, in 2020
On the basis of product type, high methoxyl pectin dominated the global pectin market in 2020 with around 51.2% of market share in terms of revenue, followed by green low methoxyl pectin, respectively. Due to the increased consumption of jam and jelly throughout the world and their application in a variety of food industries.
Global Pectin Market - Impact of Coronavirus (Covid-19) Pandemic
Due to the extreme V-shaped recovery in most emerging nations, the pectin market is fast surpassing pre-COVID levels, with a strong growth rate expected over the forecast term. To counteract the effects of the Covid-19 epidemic, key market players are implementing new tactics. Companies in the Pectin Market Industry are promoting their contactless production and delivery processes, promoting USP statements, focus on product packaging, and increase the exposure of products on online platforms as critical tactics. Also, pectin makers are attempting to extend their distribution networks as well as grow into new locations where fruit pectin is readily available. Manufacturers are aggressively pursuing different expansion plans, mostly in Asian areas.
Key players are operating in the global pectin market are CP Kelco, Cargill, Incorporated, DuPont | Danisco, Herbstreith & Fox, Yantai Andre Pectin Co., Ltd, Naturex group, Silvateam Food Ingredients, CEAMSA and Lucid Colloids Ltd.
Few Recent Developments
- In March 2017, Gellan CP Kelco, launched Kelcogel HM-B gellan gum, hydrocolloid products designed to offer a suspension of cocoa and minerals in ready-to-drink dairy-based beverages.