The pectin market size is estimated to be valued at USD 1.0 billion in 2019 and is projected to be worth USD 1.5 billion by 2025, recording a CAGR of 6.5% during the forecast period. The growing demand for the food & beverage industry in various applications such as jams, jellies & spreads, beverage, and dairy products is projected to drive the growth of the global pectin industry over the next few years. The growth of the pharmaceutical & personal care sector, the increasing demand for natural & organic ingredients, and the growing application in the personal care products are projected to drive the growth of the market.
The key players in this market include DowDupont (US), Cargill, Incorporated (US), Ingredion Incorporated (US), CP Kelco (US), and Koninklijke DSM N.V. (Netherlands). New product launch, expansions & investments, mergers & acquisitions and agreements, collaborations, & partnerships were some of the core strengths of the leading players in the pectin market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Some of the other players in the pectin market include Tate & Lyle PLC (UK), Naturex (France), Lucid Colloids Ltd (India), Silvateam S.p.A (Italy), Compañía Española de Algas Marinas S.A (CEAMSA) (Spain), Herbstreith & Fox Corporate Group (Germany), Yantai Andre Pectin Co. Ltd. (China), and B&V Srl (Italy).
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CP Kelco (US) is one of the major players in the global pectin market. It is a US-based producer of specialty hydrocolloids ingredients and offers a wide range of pectin products for various applications such as food & beverage such as dairy, and dairy alternative, pharmaceutical, personal care. To expand its business, the primary strategy opted by the company was to expand its products offerings and expansion of its production facilities and capacity.
DowDupont (US) is one of the major players in the pectin market. The company operates through eight business segments such as agriculture, industrial intermediates & infrastructure, packaging & specialty plastics, performance materials & coatings, nutrition & biosciences, safety & construction, transportation & advanced polymers, and electronics & imaging. Pectin is offered by the nutrition & biosciences segment for a wide range of applications such as jams, jellies, dairy products, bakery fillings, pharmaceuticals, and nutritional supplements.
Cargill, Incorporated (US) is one of the leading players in the pectin market. The company offers food and beverage segment from its food & beverage ingredients business segment. It offers pectin under the brand name UniPectin to various food and beverage applications such as beverages, confectionery, fruits jams, jellies, and convenience food, such as ketchup, tomato sauces, and dairy products. In 2018, the company planned to invest USD 150 million in South America to construct HM pectin production facility in Brazil. Company has its pectin production facilities located in the Europe region. The strategy adopted by the company is to expand its product offerings. The company continuously expands in the new markets and penetrates the existing markets by increasing its product reach.
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