Citrus Fibre Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022
Albany, NY -- (SBWIRE) -- 09/21/2017 -- The rising awareness among consumers about the vast functional benefits of dietary fiber due to their beneficial psychological effects is a key factor driving the consumption of citrus fiber world over. The consumption of citrus fibers among other various other dietary fibers is gaining prominence as these contain several bioactive compounds. A recently published report by Transparency Market Research has revealed that the global citrus fiber market is projected to expand at a CAGR of 4.6% during the forecast period of 2017 and 2022.
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Factors Catalyzing Growth of Worldwide Citrus Fibre Market
As consumers become more aware of the health benefits of citrus fibers in combating diseases, these find wide applications in the processed food segment. The addition of citrus fibers, notably those that are insoluble, to a variety of food items improves their technical and functional properties markedly, while imparting a neutral and natural taste and flavor. The growing willingness of consumers to pay a higher price for citrus fiber added-food products is attributed to various nutritional benefits these possess, such as reducing fat content. In addition, since citrus fibers are derived from non-allergen sources, they are likely to witness significant demand among a wider population.
The inclusion of citrus fibers in food grades is boosted by the stability of these fibers across a range of pH and temperatures. In addition, their addition improves the texture of final food products and with less formulation cost. Such factors bode well for the citrus fiber market.
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Applications in Food Sector to Grow at Leading Rate
The vast functional properties that citrus fiber can impart to a variety of food products, including meat and bakery products, is a primary factor accounting for the major share hold by the food grade citrus fiber, among other grades. Among all grades, the food grade citrus fiber segment is projected to rise at a CAGR of 4.6% from 2017 to 2022, and is anticipated to witness the leading growth of US$ 9.9 Mn year-over-year over the forecast period. The food grade is predicted to hold a significant share of 64.5% by 2017 end. The segment is predicted to reach a valuation of US$ 246.3 Mn in 2022, accounting for a market share of 64.4% in the same year.
Recent advances in processing technology have led to the production of citrus fibers that are easy to store and transport, keeping their functional properties intact. This is a key factor likely to boost the application of citrus fibers in several end-use industries. The widespread demand for citrus fibers in these applications areas is attributed to their amazing functional properties, notably water binding or retaining capacity and versatility.
Geographically, the Asia Pacific Excluding Japan (APEJ) market is anticipated to expand at CAGR of 5.1% from 2017 to 2022 and will be worth US$ 99 Mn by the end of 2022. A prominent regional market for citrus fiber is Europe, which is predicted to account for a global share of 23.4% by 2017 end, in terms of revenue. The regional market is anticipated to lose some of its global share, estimated at 56 BPS, by the end of 2022 from 2017.
Some of the prominent players operating in the global citrus fiber market include Ceamsa, Fiberstar, Inc., Quadra Chemicals Ltd., Cargill, Inc., and Florida Food Products.