Global Pectin Market Overview 2018: Growth, Share, Demand and Forecast Research Report to 2023
This can be accredited to the changing preferences of the health-conscious consumers and numerous applications of pectin in the pharmaceutical, cosmetics and food industries.
Pectin refers to a group of water-soluble carbohydrate substances which are mostly found in ripe fruits. It is obtained by the aqueous extraction from edible plant materials, such as apple pomace and citrus peel. Pectin is mainly used for its gelling property which improves the texture of drinks and gives them a jelly-like consistency. It is a high source of fibre and also treats diabetes, aids weight loss, controls diarrhoea and lowers cholesterol. A new research report by IMARC Group, titled “Pectin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market reached a volume of 69,664 Tons in 2017. The report further anticipates the market to reach a volume 93,891 Tons by 2023, at a projected CAGR of 5% over the forecast period.
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Global Pectin Market Drivers/Constraints:
Pectin is extensively used as a gelling agent in a variety of fruit-based products, such as marmalades, jellies, jams, fruit filling for bakery products and fruit preparations for desserts and yogurts. The growing demand for these products is anticipated to drive the growth of the global pectin market.
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The usage for pectin in the pharmaceutical and cosmeceutical sectors is gaining traction as it is used in wound healing preparations, specialty medical adhesives and as a natural structure provider for pastes, oils, and creams.
Some of the other factors bolstering the market growth are the increasing demand for natural and organic ingredients, growing health concerns and the changing preference of consumers towards functional foods.
The unavailability of raw materials and fluctuations in the prices of raw materials are the major factors hampering the growth of the market.
Raw Material Insights:
Citrus peel, apple peel and other fruit and vegetable residues are the major raw materials used in the production of pectin. Currently, citrus peels are the most popular raw material used for pectin production as they contain around 20-30% of pectin.
Based on end-use, the report finds that jams and preserves currently represent the largest end-use segment of pectin as it preserves their fresh flavor and maintains their natural color. It is followed by drinkable and spoonable yoghurt, bakery and confectionery, fruit beverages, and other milk drinks.
On a geographical front, Europe is the leading market for pectin on account of its high demand in the food and beverage industry. Other major regions are Asia, North America and Latin America.
The market is highly concentrated with the presence of a handful of players due to high capital investment. Some of the leading players operating in the market are:
Herbstreith & Fox
Yantai Andre Pectin
Browse related reports:
Naphtha Market Research Report 2018-2023: https://www.imarcgroup.com/naphtha-market
Saccharin Market Research Report 2018-2023: http://Saccharin Market Research Report
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