Pectin Market : Growth Opportunities and Recent Developments
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″ 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.
By type, the HM pectin segment is projected to dominate the pectin market during the forecast period.
HM pectin is the most common type of pectin and is labeled as either rapid-set or slow-set. The gel strength of HM pectin remains high due to the increase in the degree of methylation; however, any further increase in the degree of methylation, i.e., more than 70%, leads to a decrease in its gel strength. HM pectins are widely used in the production of jams and jellies, as they are used for thickening the product.
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By raw material, the citrus fruits segment is projected to dominate the pectin market during the forecast period.
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 health, 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 viable substitute for gum Arabic, as less quantity is required to activate the oil-water interface.
The increasing demand for pectin in Europe and Asia Pacific is driving the growth of the pectin market.
The European and Asia Pacific countries are witnessing increasing demand for pectin mainly in the food & beverages industries. Europe accounted for the largest share of the global pectin market due to the high demand for convenience foods & functional dairy products and increasing consumption of jam & jellies and baked goods.
Asia Pacific is likely to be the fastest-growing region in the global pectin industry. The growth in the market is driven by the growing demand for convenience foods, functional dairy products, and baked goods, coupled with the changing consumer lifestyle in the region.
Key Market Players
Key players in this market include DowDupont (US), Cargill, Incorporated (US), Ingredion Incorporated (US), CP Kelco (US) and Koninklijke DSM N.V. (Netherlands). Major players in this market are focusing on increasing their presence through new product launch, expansions & investments, mergers & acquisitions, partnerships, collaborations, and agreements. These companies have a strong presence in North America and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.