Pectin Market
The pectin market is poised to experience a steady growth with an average Compound Annual Growth Rate (CAGR) of 5.1% between 2023 and 2033. Projections suggest that the market is set to surpass a market share of US$ 1.5 billion by 2033, having generated a revenue of US$ 890.9 million in 2023.
The evolving standards in the bakery industry, coupled with an increased preference for naturally derived dough-setting agents, are driving the demand for pectin. Moreover, the expanding packaged food industry remains a major consumer of pectin.
The revival of the Fast-Moving Consumer Goods (FMCG) industry, along with heightened sales of packaged food items, is contributing to the global sales growth of pectin. Leading manufacturers produce highly organic pectin through natural extraction methods.
Emerging outlets and products, particularly those producing jams and jellies with unique flavor profiles, require effective condensing agents. Pectin serves this purpose well, delivering efficient results.
Pectin's water-binding ability and emulsifying properties make it valuable in meat product formulations, contributing to texture modifications with its gel-like properties. Advanced apple and citrus-based pectin are recognized for promoting gut health, aiding in weight loss, controlling blood sugar, supporting heart health, and relieving gastrointestinal issues, further fueling the demand across various industries.
Its cost-effectiveness and easy availability make pectin a suitable choice as an emulsifying agent in industrial applications, thereby expanding the overall market size.
The substantial consumption of pectin is particularly prominent in bakery filling and toppings, and as bakeries and their chains proliferate worldwide, this trend is expected to drive global pectin sales.
Key Points
The U.S. market holds the biggest pectin market and is anticipated to cross a value of US$ 129.6 million by 2033. The regional market is expected to thrive at an elevated 4.1% between 2023 and 2033.
The Japanese market thrives at the highest CAGR of 6.9% during the forecast period. The market is likely to reach a value of US$ 94.8 million by 2033.
The high methoxyl pectin segment is expected to thrive in the product category because of the wider applications and easy extraction through specific fruits. It is expected to thrive at a CAGR of 5.9% during the forecast period.
The jams & jellies segment thrives the highest in the source-type segments with a CAGR of 5.6% between 2023 and 2033 due to the higher demand for
confectionery products that are naturally derived and organic.
“The findings underscore the escalating demand for pectin across various applications, illuminating its significance in product development and consumer preferences. The study positions pectin as a key ingredient driving innovation and market growth, offering valuable insights for industry stakeholders seeking to navigate the evolving landscape." opines Nandini Roy Choudhury, Client Partner at Future Market Insights.
Competitive Landscape
The key players focus on enhancing the organic content in pectin usage. Also, the sales of industry-specific pectin are likely to expand the pectin market size. Furthermore, the pectin blends in the market are promoting its usage across the verticals, making it the first choice as vendors limit the price and make it accessible. The Key Players in the market are Ingredion Incorporated, Cargill Incorporated, CP Kelco, Tate & Lyle LLC, Koninklijke DSM N.V., Naturex, Lucid Colloids Ltd., DowDupont, Silvateam S.p.A., and Compañía Española de Algas Marinas S.A (CEAMSA)
For instance:
CP Kelco has introduced its new batch of pectin powder that is organically derived and is ready to use as a gelling, thickening, stabilizing, and pH-balancing agent. These GENU pectin are differentiation in two types--High methylester (HM), Low methylester (LM).
Cargill Incorporated adds nature-derived pectin with nutritional benefits for bakery’s fruity items, dairy & non-dairy drinks, fermented dairy, gummies, jellies and jam.
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Major Contributors to the Pectin Market are
Cargill Incorporated
Ingredion Incorporated
CP Kelco
Tate & Lyle LLC
Koninklijke DSM N.V.
Naturex
Lucid Colloids Ltd.
DowDupont
Silvateam S.p.A.
Compañía Española de Algas Marinas S.A (CEAMSA)
Key Segments
Product Type:
High Methoxyl Pectin
Low Methoxyl Pectin
Amidated
Non-amidated
Application:
Bakery Fillings & Toppings
Beverages
Confectionery
Dairy Products & Frozen Desserts
Dietary Supplements
Functional Food
Jams & Jellies
Meat & Poultry Products
Personal Care & Cosmetics
Pharmaceutical
By Region:
North America
Latin America
Europe
Asia Pacific (APAC)
The Middle East & Africa (MEA)
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