Pectin is a natural carbohydrate found in fruits and vegetables, and it is commonly used as a gelling agent in the food industry, especially in the production of jams, jellies, and other fruit-based products. Additionally, pectin has various health benefits and is used in pharmaceutical formulations. The global pectin market size is estimated to be valued at USD 1.0 billion in 2019 and is expected to reach a value of USD 1.5 billion by 2025, growing at a CAGR of 6.5% during the forecast period. Increase in functional food & beverage consumption, the multi-functionality of pectin, and the rise in the use of natural ingredients in foods due to greater consumer awareness about healthy diets is driving the global pectic industry.
Key factors contributing to the growth of the pectin market include:
Increasing Demand in Food Industry: The food industry is a major consumer of pectin, and the demand for natural and clean label ingredients has driven the use of pectin in various food products.
Growing Consumer Awareness of Health and Wellness: Pectin is often perceived as a natural and healthy ingredient, leading to increased consumer preference for products containing pectin.
Pharmaceutical Applications: Pectin is used in the pharmaceutical industry for its binding and gelling properties in the production of drug formulations. It can be used as a gelling agent in oral dosage forms.
Research and Development: Ongoing research and development activities have led to the discovery of new applications for pectin, expanding its market potential.
Rising Vegan and Vegetarian Trends: As pectin is plant-based and fits well with vegan and vegetarian preferences, it has gained popularity in products targeting these consumer groups.
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The increasing demand for pectin in Europe and Asia Pacific is driving the growth of the pectin market.
The European and Asia Pacific countries are witnessing increasing demand for pectin mainly in the food & beverages industries. Europe accounted for the largest share of the global pectin market due to the high demand for convenience foods & functional dairy products and increasing consumption of jam & jellies and baked goods.
Asia Pacific is likely to be the fastest-growing region in the global pectin industry. The growth in the market is driven by the growing demand for convenience foods, functional dairy products, and baked goods, coupled with the changing consumer lifestyle in the region.
Leading organizations outlined:
DowDupont (US), Cargill, Incorporated (US), Ingredion Incorporated (US), CP Kelco (US), Tate & Lyle PLC (UK), Koninklijke DSM N.V. (Netherlands), 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), B&V Srl (Italy).
The citrus fruits segment, by raw material, is estimated to account for the largest market share, by value, in 2019
Based on raw material, the pectin market is segmented into citrus fruit, apple, sugar beet, and others, which include sunflower, pear, guava, quince, plum, and berries. The demand for citrus fruits from the pharmaceutical & personal care industries has drastically increased over the last decade. Citrus fruits contain active phytochemicals that can protect the health of the consumer, and in addition to this, they also abundantly provide vitamin C, folic acid, and potassium.
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The demand for pectin has created opportunities for pectin manufacturers in the emerging markets
Developing countries, namely, China and India, are projected to experience a strong upsurge in demand for pectin. This demand is expected to be driven by an increase in the production of processed and convenience foods. Emerging economies such as India and China in Asia Pacific are exhibiting high growth. Asia Pacific also provides a cost advantage in terms of production and processing. The high current and projected demand, coupled with the low cost of production, is a key feature, which is expected to aid pectin suppliers and manufacturers to target this market.
