The global pectin market is expected to reach USD 1.9 billion by 2025, according to a new report by Grand View Research, Inc. The rising demand for the consumption of the natural & organic product, owing to various health benefits related to it, is expected to surge the demand for pectin globally.
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Major raw materials used for the production of pectin are apple and dried citrus peel. Pectin is regarded as a safe food substance through various government food agencies. Its usage and composition are regulated under food additive law by various countries. It has also been considered as an Acceptable daily intake (ADI) by the various scientific committee for Food such as FAO, WHO, & JECFA, and is listed on that basis in the Codex General Standard for Food Additives.
The major business players in the industry invest extensively in R&D in order to develop their product portfolio with superior product properties to meet the growing industry demand. Herbstreith & Fox is one such pectin manufacturer, engaged in research activities and product development. Numerous participants also incorporate third-party R&D companies to gain a competitive advantage.
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Further Key Findings from the Study Suggest:
The global pectin market is expected to reach 1.9 billion by 2025, growing at an anticipated CAGR of 7.1% from 2016 to 2025.
The food & beverage application dominated the industry with over 40%of the market share in 2015, owing to its wide usage in confectionery, and carbonated drinks.
Bakery and dairy application is also a potential market for pectin, owing to the usage of product in fruit preparations for yoghurts and fruit filling for bakery products.
Europe dominated the pectin market in 2015 and is projected to show the same growth trend over the next nine years.
Asia Pacific is expected to witness the fastest growth rate with an anticipated CAGR of 7.8% from 2016 to 2025.
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India and China are expected to show a significant growth trend in Asia Pacific region, owing to changing lifestyle trend and consumer preference for conventional food.
In Asia, China is the biggest producer and Japan is the biggest importer of pectin.
The market is highly fragmented and competitive in nature, which has the presence of giant as well as small-scale companies
Key players present in the market are DuPont Nutrition & Health, FMC Corporation, CP Kelco, Cargill, Incorporated, Herbstreith & Fox, Devson Impex Private Limited, Yantai Andre Pectin Co. Ltd., and B&V srl.
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