Global Pectin Market was valued at US$ X2X Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of X7.X1% during a forecast period.
Pectin is a dissimilar structured polysaccharide present in the fruits and vegetables. The pectin is extracted from the waste of apple and citrus peel. The pectin is used as a thickener, stabilizer and an emulsifier in chemical, pharmaceutical, Food & beverages and cosmetics industry. Pectin is utilized as gelling agent in food products like jam and jellies and also used in sweets, dairy products, bakery items and others. It is a natural source of protein for human diet and also deliver various nutrients and proteins.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The global pectin market value in 2019 is estimated at ~US$ X2X Mn and anticipated to grow at a CAGR of X7.X1% during the forecast period of 2019-2027. Low methoxyl pectin is highly favored product for several application in Food &Beverages industry, accounting for comparatively high share (XX%) as compared to high methoxyl pectin (XX%). The increase in demand for low methoxyl pectin can be mainly attributed to its low necessity of sugar to form gels, and extensive applications in the food & beverages industry.
Western Europe is anticipated to account for ~X8% of the revenue share in the pectin industry by the end of 2027. Western Europe is anticipated to be the most opportunistic region for producers and distributors, due to growing demand for pectin in several end-use industries. Remarkable applications of pectin in beverages industry, dietary supplements, bakery filling & toppings, dairy products & frozen desserts, meat & poultry products, pharmaceuticals, personal care & cosmetics, functional foods, jams & jellies, confectionaries, and others make it an essential product. Its usage in such several fields is expected to rise market value throughout the forecasted period.
Medicinal Properties Make Pectin a Trusted Natural Product
Pectin is a fiber which originate in fruits and is mostly used to make medicines, as it has several medicinal properties and trend to lower cholesterol levels. It is useful in averting poisoning caused by lead, strontium, and other heavy metals. It is used to cure colon and prostate cancer by triggering cell death pathways in cancer cells. Its utilization in the medical field is very huge, and as people are shifting and trusting natural and plant-based products in treating several diseases, pectin would mark one among the top lists in serving consumers, due to its distinctive property.
Pectin Gaining Attention as a Vegan Alternative to Synthetic Products
Pectin is a fruitarian product derived from the cell wall of all plants. It is fat & cholesterol free, and comprises 36% of fiber, due to which, it is utilized as a key constituent in the dietary supplements industry. The growing inclination towards plant-based products is expected to positive impact on pectin market growth during forecast period.
Rising Demand for Dairy Products
Rising utilization of dairy product along with rising disposable income is estimated to boost the pectin market in the emerging regions. Also, rising byproducts of dairy products together with the increasing trend for consuming healthy food is amplifying the pectin market throughout the forecast period. Additionally, the increasing health awareness has shifted the focus towards utilizing dairy products on daily basis. This is anticipated to drive the pectin market throughout the forecast period.
High Application in Cosmetics
The increasing utilization of pectin as an emulsifying agent in cosmetics industry is anticipated to boost the pectin market during the estimated period. Also, it is used as a stabilizer in the cosmetics, which is expected to increase the demand for pectin throughout the forecast period. The high demand for cosmetics among the working women population is amplifying the market growth of pectin in the forecast period.
Lack of Raw Material
The lack of availability of raw materials due to the lack of favorable environment for citrus fruits in diverse geographic locations is anticipated to raise the price of pectin .This is estimated to impede the growth of pectin market throughout the forecast period.
Rising Demand for Pectin as Gelling Agents
Pectin is utilized as a gelling & thickening and stabilizing agent in fruit products like marmalades, fruit-based production of yogurts & desserts and bakery products. It is also used in sweet products like jam & jellies to give them a gel structure. Major benefits of adding it in food and other products are it decreases cooking time, increases texture & color, and rises the shelf life. It is also extensively used in pharmaceuticals industry for wound remedial product manufacturing and specialty medical adhesives.
Europe holds the largest market share (XX%) in pectin market, followed by North America. The demand in the region is high due to the existence and growth of end-use application for the product. Brazil is one of the major manufacturers of pectin, followed by Denmark and Mexico. Argentina is also a main country for growth of citrus fruits. Conversely, there are no key production proficiency in the nation due to lack of favorable environment and reducing demand for lime juice. This has resulted in decreasing plantation of lime trees. Asia Pacific holds potential market due to the existences of developing countries like Chain and India. Changing lifestyle and food preference in these countries is anticipated to amplify the market in the region.
The report covers the market leaders, followers and new entrants in the industry with the market dynamics by region. It will also help to understand the position of each player in the market by region, by segment with their expansion plans, R&D expenditure and organic & in-organic growth strategies. Long term association, strategic alliances, supply chain agreement and M&A activities are covered in the report in detail from 2014 to 2019. Expected alliances and agreement in forecast period will give future course of action in the market to the readers. More than ten companies are profiled, benchmarked in the report on different parameters that will help reader to gain insight about the market in minimum time.
The objective of the report is to present a comprehensive analysis of the Pectin Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Vehicle. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Vehicle on the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Pectin Market dynamics, structure by analyzing the market segments and project the Pectin Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Pectin Market make the report investor’s guide
The Scope of Global Pectin Market:
Global Pectin Market, by Function:
• Gelling agent
• Fat replacer
Global Pectin Market, by Application:
• Food & Beverage
• Dairy products
Global Pectin Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
Key Players Operating In Global Pectin Market:
• DuPont Nutrition & Health
• FMC Corporation
• CP Kelco
• Herbstreith & Fox
• Devson Impex Private Limited
• Yantai Andre Pectin Co. Ltd.
• B&V srl
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