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
Northbrook, IL 60062 -- (SBWIRE) -- 05/16/2022 -- The pectin market size is estimated to account for a value of USD 1.0 billion in 2019 and is projected to grow at a CAGR of 6.5% from 2019, to reach a value of USD 1.5 billion by 2025. The increasing consumption of convenience food, rise in health consciousness, and multifunctionality of pectin (leading to their wide applications) drive the growth of the pectin industry.
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By type, the HM pectin segment is projected to dominate the pectin market during the forecast period.
HM pectin is the most common type of pectin and is labeled as either rapid-set or slow-set. The gel strength of HM pectin remains high due to the increase in the degree of methylation; however, any further increase in the degree of methylation, i.e., more than 70%, leads to a decrease in its gel strength. HM pectins are widely used in the production of jams and jellies, as they are used for thickening the product.
By raw material, the citrus fruits segment is projected to dominate the pectin market during the forecast period.
The demand for citrus fruits from the pharmaceutical & personal care industries has drastically increased over the last decade. Citrus fruits contain active phytochemicals that can protect health, and in addition to this, they also abundantly provide vitamin C, folic acid, and potassium. Sugar beet pectin extracts show a potential role as an emulsifier apart from a gelling agent, due to which it becomes a viable substitute for gum Arabic, as less quantity is required to activate the oil-water interface.
By application, the food & beverages segment is projected to dominate the pectin market during the forecast period.
The food & beverages segment dominates the pectin market due to the high demand for the use of natural and organic products for producing jams, jellies and spreads, bakery & confectionery and increasing applications in sauces, spreads, & dressings, and meat products. The demand for pectin also remains high in the pharmaceutical and personal care product sectors due to the increasing application of pectin to treat diarrheal diseases and various other diseases such as gastrointestinal diseases.
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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Key players in this market include DowDupont (US), Cargill, Incorporated (US), Ingredion Incorporated (US), CP Kelco (US) and Koninklijke DSM N.V. (Netherlands). Major players in this market are focusing on increasing their presence through new product launch, expansions & investments, mergers & acquisitions, partnerships, collaborations, and agreements. These companies have a strong presence in North America and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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