The ‘Global Pectin Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global pectin market price, assessing the market on the basis of its segments like raw materials, end uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): 89.83 KMT
- Forecast CAGR (2023-2028): 5%
- Forecast Market Size (2028): 120.38 KMT
The rise in demand for convenience foods and increased health consciousness are the main factors driving the global pectin market. Pectin is used in a wide range of different food products where it acts as a food stabiliser as well as a gelling and thickening agent. Also, it aids in lowering syneresis in jams and marmalades and in boosting the gel strength of jams with fewer calories.
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Pectin also has a number of therapeutic benefits; it acts as a demulcent and treats diarrhoea and constipation. Rising health concerns and an increase in the usage of healthy and organic raw materials for the manufacturing of culinary goods are predicted to boost the market in the coming years.
Foods commonly made with pectin include fruit products, such as marmalades, fruit-based yoghurt and dessert dishes, and baked goods. Additionally, it is used in confectionary to give jams and jellies their gel-like structure. Its addition to food and other products offers a variety of advantages, such as a shorter cooking time, improved texture and colour, and a longer shelf life. Thus, the numerous advantages of pectin are aiding the pectin market growth.
Pectin Industry Definition and Major Segments
Pectin is a form of a carbohydrate that is commonly found in fruits, particularly in the peels of apples and citrus fruits. A structural heteropolysaccharide, pectin acts as a gelling agent, thickener, and stabiliser. At an industrial level, citrus peels are dried, precipitated, and filtered with ethanol and hydrochloric to produce pectin.
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Based on raw material, the market can be divided into:
- Citrus Peel
- Apple Peel
On the basis of end use, the market can be segmented into:
- Jams and Preserves
- Drinkable and Spoonable Yoghurt
- Bakery and Confectionery
- Fruit Beverages
- Other Milk Drinks
Based on region, the market is categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Pectin Market Trends
In the global pectin market a significant portion of pectin consumption is found in jams and preserves, drinkable and spoonable yoghurt, and other such products. As lifestyles of people become busier around the world, quick and easy food preparations are growing in demand. Multiple products made with pectin are convenient for busy people, increasing the demand for the market for pectin.
The rise in the consumption of luxury food and beverages worldwide is a key trend in the pectin market. Pectin is increasingly used in specialised beverages for better mouthfeel, and it also has applications for jams, oxidised protein drinks, and protein stability. An increasing population and rising middle-class income are expected to lead the market for pectin in the coming years.
The market has been greatly impacted by recent developments in the supply chain and urbanisation. Advocacy and rules from various governments for the use of natural additives in food goods are also helping to improve pectin’s potential for global growth. Due to these considerations, demand for natural food additives with clear labels, such as pectin, has surged.
At a regional level, North America has a strong presence in the market, due to the wide network of supermarkets and consumer preference for on-the-go and easy to prepare meals. Meanwhile, demand is expected to rise in the Asia Pacific, as more products with pectin become available and popular in local markets.
Key Market Players
The major players in the global pectin market report are:
- CP Kelco U.S., Inc.
- International Flavors & Fragrances, Inc.
- Cargill, Incorporated
- Herbstreith & Fox GmbH & Co. KG
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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