Rising demand for premium food & beverage products worldwide, changing lifestyles and consumer preferences, and rising disposable incomes are some of the key factors expected to boost market revenue growth
Revenue growth of the global pectin market is majorly attributed to factors such as growing demand for premium food & beverage products, changing lifestyles and preferences of consumers worldwide, rising disposable incomes, and increasing applications in the pharmaceutical, beauty & personal care, and many other industries. Surging awareness of the multi-functionality of pectin, rising health concerns across the globe, growing consumption of protein fibers, and increasing R&D activities for pectin production are other major factors fast-tracking the global pectin market revenue growth.
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Pectin is a functional fiber derived from various fruits and vegetables. It is a structural acidic heteropolysaccharide rich in galacturonic acid, and it expands and converts into a thick gel when heated. Commercially manufactured as a white or light brown powder, pectin is used in the manufacture of a wide range of food & beverage, pharmaceutical, and beauty & personal care products. The global pectin market growth is however hampered due to unfavorable factors such as stringent regulations associated with the production and use of pectin and fluctuating prices of raw materials.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Segment Accounted for Largest Revenue Share in 2019:
Based on product type, the high-methoxyl (HM) pectin segment accounted for the largest revenue share in the global pectin market in 2019 due to many favorable factors. High-methoxyl pectin is one of the most widely used types of pectin and is characterized by robust gel strength that is attributed to the high degree of methylation. Growing use of high-methoxyl pectin as a gelling agent and thickener in the food & beverage industry – mainly for the production of jellies, jams, confectionery, and bakery items – is a key factor boosting this segment’s growth.
Segment to Account for Fastest Revenue CAGR:
Based on application, the food & beverages segment is expected to register the fastest revenue growth rate in the global pectin market over the forecast period. Growing use of organic food additives in the manufacture of a wide range of food & beverage products such as confectionery, bakery products, jams, jellies, spreads, sauces, and dressings, and increasing demand for functional and convenience foods & beverages are among the major factors accounting for the growth of this segment.
North America Accounted for Largest Revenue Share in 2019:
Among regional markets, the North America dominated other regional markets in terms of revenue share in the global market in 2019. Major factors contributing to the regional market revenue growth are rising health awareness among the population, growing demand for convenience and functional foods & beverages, changing consumer lifestyles and food preferences, and thriving pharmaceutical, beauty & personal care, and other industries in the region are among the principal factors driving the North America pectin market revenue growth. Presence of leading industry players in the region including DowDupont, Cargill, Incorporated, Ingredion Incorporated, and CP Kelco is another key driver for the North America pectin market growth.
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Major Companies in the Global Pectin Market Include:
- Cargill, Incorporated
- Ingredion Incorporated
- CP Kelco
- Tate & Lyle PLC
- Koninklijke DSM N.V.
- Lucid Colloids Ltd.
- Silvateam S.p.A.
- Compañía Española de Algas Marinas S.A (CEAMSA)
- Herbstreith & Fox Corporate Group
- Yantai Andre Pectin Co. Ltd.
- B&V Srl
For the purpose of this report, Emergen Research has segmented the global pectin market based on type, raw material type, function, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- High-methoxyl (HM) Pectin
- Low-methoxyl (LM) Pectin
Raw Material Type Outlook (Revenue, USD Billion; 2017-2027)
- Citrus fruits
- Sugar beet
Function Outlook (Revenue, USD Billion; 2017-2027)
- Gelling agents
- Fat replacers
- Coating materials
- Moisture-binding agents
Application Outlook (Revenue, USD Billion; 2017-2027)
- Food & beverages
- Jams, jellies, and spreads
- Dairy products
- Bakery & confectionery
- Meat & poultry products
- Sauces & dressing
- Baby food
- Prepared foods
- Pharmaceutical products
- Personal care products
- Industrial applications
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Region Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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