Pectin Market size to exceed $1.8bn by 2026
Published Date: November 8, 2019 Authors: Kunal Ahuja, Amit Rawat
Pectin Market size is set to surpass USD 1.80 billion by 2026; according to a new research report by Global Market Insights, Inc.
The pectin industry size should witness significant growth from 2019 to 2026 due to its utilization in the food and beverage industry on account of its excellent gelling, thickening, and stabilizing properties. High demand for jams, jellies, and confectionery with shifting dietary patterns is set to boost the demand for plant-based pectin in the food and beverage industry.
The growing concerns among consumers about healthy diet will influence the market dynamics. Increasing consumer consciousness pertaining to diabetes, hypertension, cardiovascular diseases, and obesity will fuel the demand for pectin-based products as consumers are realizing its advantages in lowering diseases. Additionally, the introduction of functional food in dietary habits due to the lack of quality fruits and vegetables will positively influence the market.
Superior gelling properties to proliferate pectin growth among food & beverage sector
Pectin is a gelling agent that is usually extracted from dried citrus peels or the solids that remain when the juice is pressed from apples. Pectin is majorly used as a gelling agent in several food products including jams and jellies. The increasing consumption in medicines, fillings, and sweets and as a stabilizer in several milk drinks and fruit juices will favor product demand in food industries.
Pectin demand due to its property to form jelly-like consistency to jams, fruit conserves and marmalades has made it a novel ingredient in the bakery and confectionery industries. Gelling characteristics of pectin prevents pastries and cakes from drying out and discoloring of fruits, thereby imparting a glossy surface.
Browse key industry insights spread across 260 pages with 355 market data tables and 25 figures & charts from the report, “Pectin Market Outlook By Type (High Methylated Ester Pectin, Low Methylated Ester Pectin, and Amidated Pectin), By Raw Material (Apple, Citrus Fruits, Sugar Beet and others), By Function (Gelling agents, Thickener, Stabilizer, Fat replacer and others), By Application (Food & Beverages (Jams, Dairy, Non-Dairy Beverages, Confectionery, and others), Pharmaceutical, Cosmetics & Personal Care and others), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Turkey, China, India, Japan, South Korea, Australia, Brazil, Argentina, Saudi Arabia, South Africa, UAE), Growth Potential, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
Pharmaceutical application is anticipated to spur pectin demand
Pectin market share will witness high demand from pharmaceutical industry for formulating controlled release systems, gastro retentive, and mucoadhesive systems. Pectin offers gelling properties resulting in the rising utilization in producing gel beads, matrix tablets, and film coated dosage. Pectin is predominantly utilized for producing medications for diarrhea, constipation, and throat lozenges. It is predominantly utilized in health & nutritional products to aid in weight loss, control blood sugar, improve heart health, enhances iron absorption, strengthens hair and skin.
Demand for clean label and organic food to accelerate pectin industry growth in North America
North America dominated the overall pectin market demand and accounted for a revenue share of above 28% in 2018. Favorable regulatory guidelines are expected to support industry development. As per latest standards, pectin used in food products must be organic complaint (i.e. non-GMO, non-amidated, and free of fruit wastes). Penetration in processed food products are labelled as “clean label” and organic is based on regulations laid down under USDA National Organic Program (NOP).
Consumers in U.S. are more inclined towards healthy, nutrient-rich, high vitamin laden food and avoid food products with artificial colors, flavors, preservatives and GMO levels. Growing health concern coupled with heavy demand for low sugar fruit products will spur pectin consumption in North American market growth.
Pectin industry size is highly competitive and moderately fragmented with global players including Silvateam S.p.a, Cargill, AEP Colloids, Krishna Pectins Pvt Ltd, Dupont, CP Kelco U.S., Inc., The intensity of competition is high among manufacturers to retain and cement their position in the global pectin market outlook. Key manufacturing companies are adopting capacity additions, acquisitions, new product development and long-term partnerships with distributors as their key strategies. For instance, manufacturers are likely to collaborate with soy, sunflower, indigenous fruits and vegetables suppliers for pectin production.