Market Scenario:
Pectin is a natural polymer which constitutes a major share of the natural hydrocolloids. It is extracted from the cell wall of fruits and vegetables. Fruit pectin is extracted from the peel of various fruits, majorly including citrus peels (lemons, lime and oranges) and apple pomace. They are available in two major forms — dry and liquid. Fruit pectin is used in food sector as a gelling, thickening and stabilizing agent. It is also extensively used in the production of personal care products and in pharmaceuticals to stabilize the product content.
Fruit pectin market is observing tremendous growth owing to rising demand for gelling agents in food products such as jellies and jams. Additionally, enhancements in the manufacturing capacity of fruit pectin by major key players is supporting the food & beverages industry. Furthermore, the growing demand for organic fruit pectin and increasing consumption of fruit pectin as a source of dietary fiber in fruit juices and dairy blends are certain other possible factors to support the growth of fruit pectin market.
Growing health awareness among consumers for functional foods is anticipated to be one of the major factors driving the demand for fruit pectin over the forecast period. Additionally, multi-functionality of fruit pectin in different dairy and functional foods is likely to expand their application opportunity in the food industry, promoting the growth of fruit pectin market.
Moreover, the demand for fruit pectin in cosmetics and pharmaceutical products is also increasing significantly owing to its use as film-forming and water-binding agents. However, easily available and economical substitutes to fruit pectin such as xanthan & guar, changing climatic conditions, and limited availability of raw material such as citrus peel may hamper the market growth over the review period.
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Regional Analysis:
The global fruit pectin market is segmented into North America, Europe, Asia Pacific, and Rest of the world. Among these, Europe is projected to retain its dominance throughout the forecast period owing to healthy economic growth and increasing consumption of fruit pectin. European region is estimated to reach USD 547 million by 2022. However, Asia Pacific region including countries such as China, India, Japan and Southeast Asia is projected to expand at a moderate CAGR of 9.33% during the forecast period 2017-2022.
Segments:
The global fruit pectin market has been segmented on the basis of type such as dry fruit pectin, and liquid fruit pectin. The dry fruit pectin segment is projected to account maximum market proportion and projected to grow at CAGR of 8.42% during the forecast period. The global fruit pectin market has been segment on the basis of application such as foods & beverages, personal care & cosmetics, healthcare, and others. Among all the applications, foods & beverages is estimated to witness the highest growth at a CAGR of 7.15% during the forecast period of 2017-2022.
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Key Players:
Some of the key players profiled in the global fruit pectin market: CP Kelco U.S., Inc. (U.S.), Cargill, Inc. (U.S.), Nestle SA (Switzerland), Danone SA (Spain), Kellogg Co. (U.S.), Yantai Andre Pectin Co. Ltd. (China), Danisco A/S (U.S.), Pacific Pectin Inc. (U.S.), Silvateam S.p.a.(Italy)
Key Findings:
- European region is estimated to retain its dominance throughout the forecast period and will grow at a substantial CAGR of 8.64%. However, among the Asia Pacific countries, China is projected to witness a substantial growth of 9.15% during the forecast period of 2017-2022.
- Global fruit pectin manufacturers find massive opportunity in India owing to the huge demand of fruit pectin as an ingredient in foods and beverages industry.
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