Global Pectin Market Overview:
Pectin is a structural heteropolysaccharide that is commonly found in the primary cell wall of terrestrial plants. It is commercially manufactured in the form of brown powder, extracted mainly from citrus fruits. Pectin is used mainly as a gelling agent in food products such as jellies and jams. It is also consumed in sweets, medicines, and fodder, as well as a stabilizer in milk drinks and fruit juices and as a main source of dietary fiber. Pectin belongs to the group of dietary hydrocolloids that form gels or viscous liquids when they are dispersed in water. Pectin has a wide range of applications in the food industry, including beverages, meat and poultry products, bakery, confectionery, sausages, and salad dressings, and dairy products. The global pectin market had a value of USD 958 million in 2015 and is expected to have a CAGR of 7.3% during the forecast period of 2018-2023.
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Global Pectin Market – Drivers and restraints:
It is expected that increasing awareness of consumer health for functional foods will be an important factor in the demand for pectin during the forecast period. In addition, the multi-functionality of pectin in various dairy and functional foods is expected to expand its reach in the food industry, leading to market growth. However, the lack of availability of raw materials as well as fluctuations in the prices of these raw materials should hinder the growth of the market. The cost of raw materials to produce pectin, which includes citrus peel and apple marc, has increased due to higher processing costs and the price of citrus fruits. The price and supply of these fruits are strongly affected by weather conditions associated with a citrus disease called “greening” that affects the performance of the industry. The focus on research and development (R&D) activities that lead to product innovation should offer new opportunities for market growth. In addition, emerging regions such as the Asia-Pacific region have immense potential for the global market due to the growing consumption of prepared foods.
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Global Pectin Market – Geographical segmentation:
Europe is a mature market for pectin usage, followed by North America. The demand in the region is high due to the presence and growth of the applications of the end use of the product. Brazil is one of the largest producers of pectin, followed by Denmark and Mexico. Argentina is also a key country for the growth of citrus fruits. However, there is not a large production capacity in the country due to adverse weather conditions and the decrease in demand for lemon juice. This has had the effect of reducing the linden plantations. The Asia-Pacific region is a potential market due to the presence of emerging countries such as Chain and India. It is expected that changes in lifestyles and food preferences in these countries will boost the region’s market.
The key players are DuPont Nutrition & Health, FMC Corporation, Kelco CP, Cargill, Incorporated, Herbstreith & Fox, Devson Impex Private Limited and Yantai Andre Pectin Co. Ltd. and B & V srl.
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