Sustainable Growth Opportunities in the Pectin Market
(I-BusinessNews.Com, August 25, 2021 ) The report "Pectin Market by Type (HM Pectin, LM Pectin), Raw Material (Citrus fruits, Apples, Sugar beet), Function, Application (Food & beverages, Pharmaceutical & Personal Care Products, Industrial Applications), and Region - Global Forecast to 2025" The global pectin market size is estimated to be valued at USD 1.0 billion in 2019 and is expected to reach a value of USD 1.5 billion by 2025, growing at a CAGR of 6.5% during the forecast period. Increase in functional food & beverage consumption, the multi-functionality of pectin, and the rise in the use of natural ingredients in foods due to greater consumer awareness about healthy diets is driving the global pectic industry.
The global pectin market has witnessed stable growth over the last few years, and this trend is expected to continue. The companies operating in the pectin market are primarily focused on expanding their production facilities to increase their presence across various regions and distribute new varieties of pectin products. The rise in the trend of use of plant-based products offers a lucrative opportunity in various industries.
Rise in the consumption of premium food & beverage products
Multi-functionality of pectin leading to demand from newer applications
Growing need for pharmaceutical
Stringent regulations and need for quality standards
Fluctuating prices of pectin and its products
Types of Pectin :
The pectin market is segmented into HM pectin and LM pectin. Pectin is an important polysaccharide that has various applications such as food & beverages, pharmaceutical, and cosmetic & personal care. It is well-known for its property of forming gels with sugar and acid. In the food industry, the ration of esterified to non-esterified galacturonic acid determines the behavior of pectin.
The competitive landscape provides an overview of the relative market position of the key players operating in the pectin market, based on the strength of their project offerings and business strategies, analyzed based on a proprietary model. Key players in the market have majorly adopted strategies such as new product launches, agreements, collaborations, and joint ventures, expansions, and acquisitions. Some of the major players in the market are:
Tate & Lyle Plc
Lucid Colloids Ltd
Yantai Andre Pectin Co Ltd
The increasing demand for pectin in Europe and Asia Pacific is driving the growth of the pectin market.
The European and Asia Pacific countries are witnessing increasing demand for pectin mainly in the food & beverages industries. Europe accounted for the largest share of the global pectin market due to the high demand for convenience foods & functional dairy products and increasing consumption of jam & jellies and baked goods.
Asia Pacific is likely to be the fastest-growing region in the global pectin industry. The growth in the market is driven by the growing demand for convenience foods, functional dairy products, and baked goods, coupled with the changing consumer lifestyle in the region.
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