Pectin Market Overview:
Pectin Market size was worth USD 1.13 Billion in 2021, accounting for a CAGR of 6.5% during the forecast period (2022-2030), and the market is projected to be worth USD 1.99 Billion by 2030.
Pectin is a distinctive fiber found in vegetables and fruits. It’s a soluble fiber recognized as a natural polysaccharide starch found in the cell walls of fruits and vegetables. It is the reason for the gel-like texture of jellies and jams. It is also utilized in baking, candies, and gummies and as a stabilizer in yogurt. This is available abundant in apples and citrus fruits. Once extracted from the plant pectin is sold in the form of liquid, powder, or in frozen forms. Pectin is significantly utilized in home cooking and food production as a thickener. Furthermore, for home-kitchen usage, pectin is available in light-brown or white powder or as a colorless liquid.
The European market is the dominating regional market in the global market of pectin due to the demand for convenient food in this region. The Asia Pacific region is subsequently growing due to emerging nations like China and India.
High methoxy pectin is ideal for acidic dairy beverages owing to its properties for stabilizing and preserving milk proteins. It also helps the digestive tract after ingestion, which enables numerous health benefits. Furthermore, pectin is utilized as the soluble fiber supplement, which is typically sold in the form of capsules that in turn helps in reducing cholesterol and triglyceride levels, constipation, improves sugar levels in the blood, and maintains a healthy weight which provides many applications in the pharmaceuticals industry. Also, the increasing penetration of dietary fiber in drinks as it reduces the bitterness of the emulsifiers pectin is extensively utilized by the food and beverages industry which propels the pectin market growth in the forecast period.
The wide availability of alternatives for pectin such as gelatin and cornstarch are the major restraints that hamper the market growth. Furthermore, the fluctuations in the cost of pectin due to the demand-supply gap are creating hindrances in the market during the forecast period. Owing to the high cost of pectin end users and industries are shifting to hydrocolloids.
Owing to the rapid development in technology, pectin polymers are used as edible coatings and films. These coatings provide a natural barrier against gases, moisture, lipids, and other volatile substances between food and the outer environment. This can be extensively used in the food and beverage industry in the forecast period.
The outbreak of COVID-19 hindered the market demand for Pectin globally. Leading players operating in the market recorded a decline in their revenues from the drop in the demand for pectin due to disruption in the supply chain during the lockdown. Moreover, the demand for pectin increased due to the consumer preference for healthy food options due to the outbreak which showed a positive impact on the market. However, post-pandemic, the market has seen positive growth due to the demand for pectin subsequently increasing.
Pectin Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||1.99 Billion|
|By Type||Low Methoxy (LM) Pectin and High Methoxy (HM) Pectin|
|By Source||Citrus Fruits, Sugar Beet and Apple|
|By Application||Food & Beverages, Personal Care, Pharmaceuticals, and Others.|
|By Region||North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa|
|Key Players||CP Kelco, Cargill, Herbstreith & Fox, DuPont Nutrition & Health, FMC Corporation, Devson Impex Private Limited, Yantai Andre Pectin Co. Ltd., B&V Srl., Naturex, Lucid Colloids ltd.|
On the basis of type, the market is bifurcated into low methoxy (LM) pectin and high methoxy (HM) pectin. The high methoxy (HM) pectin segment is anticipated to hold the largest share in terms of revenue with a growth rate of 7% in the forecast period. they are widely used in jams & jellies, beverages, confectionery, yogurt, and others. These are generally utilized to make thick jams and chewy desserts. These are also used in low-sugar beverages to improve mouthfeel and taste. Furthermore, they provide firmness, flavor, smooth with a slightly crisp texture. The LM pectin segment is estimated to grow significantly in the forecast period. The LM pectin is an exceptional alternative for low-sugar applications.
Based on source the market is segmented into citrus fruits, sugar beet, and apple. The citrus fruit segment is projected to hold the largest market share in terms of revenue in the forecast period due to its increasing demand from the personal care sector. Citrus pectin has key industrial applications, especially in food systems. Thus, the growing utilization of citrus fruits for the extraction of pectin for personal care is driving market growth. The apple segment is going to observe lucrative growth in the forecast period. As they are used in multiple items such as food, drinks, and cosmetics supporting revenue growth.
The application segment is segmented into food & beverages, personal care, pharmaceuticals, and others. The segment of food and beverages holds the largest revenue share with a growth rate of 6.9% in the forecast period. The HM and LM pectin is utilized in jams and jellies. Sugar-free or less sweetened jams are preferred by consumers due to health consciousness increasing the demand for pectin. In the pharmaceutical industry pectin is served as a gelling agent as it has strong water binding and supreme acid resistance making sit a valuable ingredient for the pharmaceutical industry. It can be used for external applications and internal consumption. Thus, owing to its properties in the pharmaceutical industry, the pectin market has grown steadily.
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. The market is dominated by the European region owing to the increased consumption of jelly, jams, and baked products. The European regional market of pectin is growing at a growth rate of 6.5% in the forecast period. this is due to the high demand for functional dairy products and convenience food. However, the Asia Pacific region is the second largest shareholder in the pectin market due to emerging countries like India and China and their changing food preferences and lifestyle. Though Brazil is the largest producer of pectin followed by Mexico and demark, there are no production capabilities in the countries due to the unfavorable weather patterns.
Pectin Market Competitive Landscape:
The competitive landscape of the market has been evaluated in the report, with comprehensive profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and Application launches have accelerated the growth of the Sample Preparation market. Key players in the market include-
- CP Kelco
- Herbstreith & Fox
- DuPont Nutrition & Health
- FMC Corporation
- Devson Impex Private Limited
- Yantai Andre Pectin Co. Ltd.
- B&V srl.
- Lucid Colloids ltd.
- In March 2019, CP Kelco declared its plan to extend its pectin production factory by 10% in its Brazil facility.
- In August 2018, Cargill invested USD 150 Million in South America to build an HM pectin production plant in Brazil.
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