Global "Pectin Market" is expected to grow at a CAGR of 6.5% during the forecast period (2022-2029)
Pectin is a natural component from plants and is found abundantly in apples and citrus fruits. It is widely used in the fruit processing industry for confectionery applications and acts as a stabilizing agent in the production of acidified milk beverages and yogurt drinks. It occurs naturally in terrestrial plants and is found abundantly found in citrus fruits, apples,s, and sugar beet pulp. The key functions of pectin in various food and non-food applications include gelling, thickening, stabilizing, acid-stability, and pH balancing.
Growing demand for jams, jellies, and confectioneries is the primary factor driving the global pectin market. Increased consumer preferences and desires towards dairy and plant-based protein products are expected to boost the market for clean label foods and pectin globally during the forecast period. It is increasingly used to stabilize acidic protein drinks including drinking yogurt, besides being a fat substitute in baked food products. Increasing consumption of pectin in the production of various fruit-based and other medical & cosmetic products is further expected to boost the market for pectin globally during the forecast period. In cosmetics and personal care products, pectin is used in the formulation of body & hand products, makeup foundations, shampoos, hair conditioners, other hair products. Additionally, growing consumer interest in vegan and organic products and ability to provide an effective alternative for gelatin is expected to boost the market for pectin globally during the forecast period.
However, the availability of alternatives for pectin such as gelatin, sugar, and corn starch and the high cost of these products are the primary factors hindering the growth of pectin globally during the forecast period.
COVID-19 Impact Analysis
The COVID-19 pandemic has disrupted the global economy and halted the key processes of almost all companies. Consequently, the global pectin market also suffered due to it. The disturbances in supply chain management and transportation of goods and services had a negative impact on the growth of the market. Many manufacturing and production units were disrupted due to the government enforced lockdowns and curfews across the world which led to losses and wastage of many pectin products. The pandemic also significantly changed consumer demand and behavior. Consumers refrained from purchasing non-essential products amid the pandemic thereby impacting the sales of pectin-based food products. The pandemic slowed down the growth of the market. However, the post-pandemic scene has improved and the pectin market has recovered. The market is set to grow at a high rate due to the various benefits of pectin products.
Global pectin market is segmented on the basis of product type into high methoxyl pectin, low methoxyl pectin, and others
High methoxyl pectin market segment is expected to dominate the product type segment in global pectin market owing to its extensive usage in food and beverages industry and excessive availability in the market over other products. High methoxyl pectin plays important role as a plant-based texturizer in many functional foods across the globe. It is majorly used in the production of jam and jelly. High methoxyl pectin is used to thicken the jam and jelly. High methoxyl pectin has the ability to form gels with sugar and acid.
The low methoxyl pectin market segment is also projected to grow because of the many useful properties of low methoxyl pectin. It is used in the food and beverages industry to make low sugar jams. It is also used as a gelling agent, thickening agent, and as a stabilizer. The demand for both high methoxy pectin and low methoxyl pectin is expected to grow which in turn will boost the growth of the global pectin market.
By region, the global pectin market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa
Among all of the regions, North America dominated the global pectin market and is expected to grow at a high CAGR during the forecasted period owing to the high consumption of the pectins due to their many health benefits. There is growing awareness regarding the health and therapeutic benefits of pectins. There is increasing usage of pectins in the food and beverage industry due to their gelling, thickening, stabilizing, acid-stability, and pH balancing properties.
Asia-Pacific pectin market is expected to grow at a higher pace during the forecast period owing to growing consumption of pectin by the communities and industries through various fruit preservatives, cosmetic and personal care. Growing urbanization and changing food lifestyles are expected to boost the consumption of pectin by the food and beverages industry during the forecast period. Increasing sales of jellies, soft chew candies, and yogurts by the young communities in emerging nations in Asia-pacific is predicted to further boost the market for pectin globally.
The global pectin market is consolidated with a few international players occupying a significant amount of market share. Some of the key players in the global pectin market include CP Kelco U.S., Inc, Cargill, Incorporated, DuPont Nutrition & Biosciences, Naturex AG, and many others.
The major players are using product launches, market expansion, and product diversification strategies for holding their position in the market. The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for pectins and their expansion across the globe. The global pectin market is experiencing new investment by the major players in the industry to boost their market presence footprint in developing countries in the food and beverages industry.
For example, in August 2018, Cargill Inc. invested USD 150 million for the establishment of the new production facility in Brazil, South America to improve its market presence and footprint in the respective region. In September 2019, CP Kelco’s annual investment primarily focused on boosting its pectin production capacity by 15% in the Denmark factory in the next fiscal year to meet the growing global demand for pectin ingredients.
Overview: It is a botanicals company that has expertise in plant extraction and development of natural ingredients for developing efficient solutions for the food, health, and beauty sectors.
Product Portfolio: It produces and sells plant extracts for flavoring, coloring, and preservative purposes in the food industry.
Key Developments: In June 2020, Naturex introduced Ultimine Zinc, which is the world’s first wholefood fermented zinc for immune health support.
**The global pectin report will provide access to approximately 61 market data tables, 55 figures, and 230 pages.
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