Quick Summary:
In an ever-expanding Food and Beverage (F&B) industry, a crucial component of the market is witnessing significant growth. The global pectin market, chiefly driven by its extensive use in the production of jams, jellies, confectionery products, and baked goods, is offering forward-thinking executives a promising investment opportunity. A key player in the dairy sector, where it serves as a reliable stabilizer and thickener, the burgeoning demand for this natural and functional ingredient over synthetic alternatives is marking it as a smart addition to any informed investment portfolio.
With every strategic decision made today leaving a lasting impact on your business, purchasing the 'Global Pectin Market Outlook - 2028' report offers invaluable insights. The report delves into the growth-inducing factors, competitive analysis, and a detailed profile of the major companies in the industry. Facilitating a firm understanding of this market’s landscape, this report is your compass, crucially guiding you through uncharted territories to successfully navigate the global pectin market.
The global pectin market size reached US$ 1,080 Million in 2022. Looking forward, the publisher expects the market to reach US$ 1,704 Million by 2028, exhibiting a growth rate (CAGR) of 8.4% during 2023-2028. The increasing product application across the thriving F&B industry due to its favorable physical and chemical characteristics, the rising demand for ready-to-eat (RTE) and packaged food products, and the growing demand for natural and clean labeled products due to escalating consumer concerns about the adverse health effect of synthetic additives represent some of the key factors driving the market.
The Exponentially Expanding Food and Beverage (F&B) Industry Supporting the Market Growth
The pectin market is experiencing significant growth due to the bolstering growth of the food and beverage (F&B) industry. The market is further supported by the surging demand for jams, jellies, confectionery products, and baked goods, which are the major end-use applications of pectin. In addition to this, the large-scale product utilization in dairy products, such as yogurts, as a stabilizer and thickener is presenting remunerative growth opportunities for the market. Moreover, the rising consumer demand for natural and functional ingredients over synthetic thickeners and stabilizers is acting as another significant growth-inducing factor. Furthermore, the increasing awareness about the health benefits of a fiber-rich diet has led to the demand for pectin as a source of dietary fiber. Pectin is used in producing low-calorie and sugar-free foods as a bulking agent. These factors have resulted in an increasing demand for pectin in the F&B industry, thereby strengthening the market growth.
Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The global pectin industry is dominated by six leading market players, wherein CP Kelco, Dansico, Cargill, Herbstreith & Fox Corporate Group, Naturex, and Yantai Andre Pectin hold the majority of the market share. The volume of new entrants is extremely low in the pectin industry due to high capital investment and a concentrated market landscape.
What is Pectin?
Pectin is a naturally occurring soluble fiber compound derived from the cell walls of various fruits and vegetables such as apples, apricots, sugar beet, oranges, and carrots. It is commonly extracted from citrus fruits and is produced commercially as a powder that ranges from white to light brown in color. The pectin's quality is determined by the pectin grade, which is the ratio of sugar to pectin in a jelly of standard strength. It is mainly utilized as a gelling agent, especially in manufacturing jams, jellies, and marmalades. Pectin is also used as a stabilizer in milk-based beverages and fruit juices to improve their texture and increase shelf life. In addition to this, it is known to reduce cooking time, enhance color and texture, and aid in wound healing and specialty medical adhesives. Apart from this, pectin offers numerous health benefits, such as reducing cholesterol levels and heartburn, and is beneficial for people with diabetes and gastroesophageal reflux disease (GERD.COVID-19 Impact:
The COVID-19 pandemic has had a negative impact on the global pectin market. The outbreak disrupted the global economy and halted the key processes of almost all industries, resulting in a decreased demand for pectin. Moreover, the restrictions on international trade and transportation also affected the supply chain of pectin, leading to a shortage of raw materials and finished products. In addition to this, with disruptions in supply chain and demand equilibrium, there was a considerable decrease in the demand for pectin from the food and beverage, pharmaceutical, and cosmetic industries.Pectin Market Trends:
The bolstering growth of the F&B industry across the globe represents the key factor driving the market growth. In line with this, the exponentially rising demand for ready-to-eat (RTE), packaged, and convenience foods due to consumers' changing dietary preferences and busy schedules is creating a propitious outlook for the market. In addition to this, pectin, unlike gelatin, is vegan and easily dissolvable in cold water, which is propelling the market growth. Moreover, the largescale product utilization as an additive in medicines and cosmetic items due to its rich content of phytochemicals, folic acid, and potassium is presenting lucrative growth opportunities for the market. Besides this, pectin helps improve structural stability in pastes, ointments, oils, and creams and is extensively incorporated in hair tonics, body lotions, shampoos, and conditioners as a thickening agent, which is favoring the market growth. Furthermore, the widespread adoption of high methoxyl (HM) pectin as a natural stabilizer and gelling agent is acting as another growth-inducing factor. Concurrent with this, escalating health consciousness among consumers, the surging demand for natural and clean-label ingredients, and inflating disposable incomes are positively impacting the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global pectin market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on raw material and end use.Raw Material Insights:
- Citrus Peel
- Apple Peel
- Others
End Use Insights:
- Jams and Preserves
- Drinkable and Spoonable Yoghurt
- Bakery and Confectionary
- Fruit Beverages
- Other Milk Drinks
- Others
Regional Insights:
- Europe
- Asia
- North America
- Latin America
- Others
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global pectin market. Some of the companies covered in the report include:
- CP Kelco (J.M. HUBER Group)
- DuPont de Nemours, Inc.
- Cargill Incorporated
- Herbstreith & Fox GmbH & Co. KG
- Naturex SA
- Yantai Andre Pectin Co. Ltd.
Key Questions Answered in This Report:
- What was the size of the global pectin market in 2022?
- What is the expected growth rate of the global pectin market during 2023-2028?
- What has been the impact of COVID-19 on the global pectin market?
- What are the key factors driving the global pectin market?
- What is the breakup of the global pectin market based on the raw material?
- What is the breakup of the global pectin market based on the end use?
- What are the key regions in the global pectin market?
- Who are the key companies/players in global pectin market?
What is the estimated value of the Global Pectin Market?
What is the growth rate of the Global Pectin Market?
What is the forecasted size of the Global Pectin Market?
Who are the key companies in the Global Pectin Market?
Report Attribute | Details |
---|---|
No. of Pages | 138 |
Published | June 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 1080 Million |
Forecasted Market Value ( USD | $ 1704 Million |
Compound Annual Growth Rate | 7.9% |
Regions Covered | Global |
No. of Companies Mentioned | 6 |
Table of Contents
Companies Mentioned
- CP Kelco (J.M. HUBER Group)
- DuPont de Nemours Inc.
- Cargill Incorporated
- Herbstreith & Fox GmbH & Co. KG
- Naturex SA
- Yantai Andre Pectin Co. Ltd.
Methodology
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