The Pectin by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pectin, The pectin market size has grown strongly in recent years. It will grow from $1.2 billion in 2023 to $1.28 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to fruit processing industry growth, rising awareness of health benefits, globalization of food trade, diversification of pectin applications, government regulations and standards.
The pectin market size is expected to see strong growth in the next few years. It will grow to $1.68 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to clean label movement, increased demand for low-sugar and sugar-free products, growing demand for functional foods, expansion of pharmaceutical industry, increased application in pet food industry. Major trends in the forecast period include biodegradable packaging trends, technological advancements in extraction, research and development in pectin varieties, sustainable sourcing, adoption in nutraceuticals.
The increasing consumption of food and beverages is expected to propel the growth of the pectin market going forward. Food and beverage refer to cooked or processed edible substances that are used for human consumption, and pectin is often included in foods and beverages as it helps to prevent spikes in blood sugar levels and manage digestive health. Additionally, food and beverage consumption are also increasing due to rising disposable incomes, urbanization, and changing lifestyles. For instance, in 2021, according to the Food and Drink Federation (FDF), a UK-based organization for food and beverage manufacturers, the food and drink industry contributed $37.3 billion (£30 billion) to the UK economy, which is 4.2% higher than the previous year and has a turnover of more than $139.27 billion (£112 billion) and accounts for 20% of total UK manufacturing. Therefore, the increasing consumption of food and beverages will drive the pectin market.
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The pectin market covered in this report is segmented –
1) By Type: HM Pectin, LM Pectin
2) By Function: Thickener, Stabilizer, Gelling agent, Fat replacer, Other Functions
3) By Raw Material: Citrus Fruits, Apples, Sugar Beet
4) By Distribution Channel: Direct, Indirect
5) By Application: Food And Beverage, Pharmaceuticals, Bakery, Dairy Products, Other Applications
Top Major Players:
Europe was the largest region in the pectin market in 2023.
Product innovation is a key trend gaining popularity in the pectin market. Major market players are concentrating their efforts on creating innovative packaging technologies to strengthen their position in the market. For instance, in October 2021, CP Kelco US Inc., a US-based company in nature-based ingredients announced the launch of a unique product called GENU Pectin YM-SAL 200, an improved stabilizing solution for a long shelf-life. It is a clean-label additive that gives fruit-drinking yogurt some viscosity and acts as a stabilizer with improved stability and shelf life, making it more suitable for certain applications. The unique characteristic of GENU Pectin is that it is sustainably obtained and manufactured from citrus peels, a byproduct of juice processing.
The pectin market report table of contents includes:
1. Executive Summary
2. Pectin Market Characteristics
3. Global Pectin Market Trends And Strategies
4. Pectin Market – Macro Economic Scenario
5. Global Pectin Market Size and Growth
…….
26. Global Pectin Market Competitive Benchmarking
27. Global Pectin Market Competitive Dashboard
28. Key Mergers and Acquisitions Pectin Market
29. Pectin Market Future Outlook and Potential Analysis
30. Appendix
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