- Global Pectin Market is expected to grow at a CAGR of 6.5% during the forecast period (2020-2027)
- Pectin is a natural component from plants and found abundantly in apples and citrus fruits. It is widely used in the fruit processing industry for confectionery applications and acts as a stabilizing agent in the production of acidified milk beverages and yogurt drinks. It occurs naturally in terrestrial plants and found abundantly found in citrus fruits, apple, and sugar beet pulp. The key functions of pectin in various food and non-food applications include gelling, thickening, stabilizing, acid-stability, and pH balancing.
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- Growing demand for jams, jellies, and confectioneries is the primary factor driving the global pectin market. Increased consumer preferences and desires towards dairy and plant-based protein products are expected to boost the market for clean label foods and pectin globally during the forecast period. It is increasingly used to stabilize acidic protein drinks including drinking yogurt, besides being a fat substitute in baked food products. Increasing consumption of pectin in the production of various fruit-based and other medical & cosmetic products is further expected to boost the market for pectin globally during the forecast period. In cosmetics and personal care products, pectin is used in the formulation of body & hand products, makeup foundations, shampoos, hair conditioners, other hair products. Additionally, growing consumer interests towards vegan and organic products and the ability to provide an effective alternative for gelatin is expected to boost the market for pectin globally during the forecast period.
- However, the availability of alternatives for pectin such as gelatin, sugar, and corn starch and high cost of these products are the primary factors hindering the growth of pectin globally during the forecast period.
Market Segmentation Analysis
- Global pectin market is segmented based on product type into high methoxyl pectin, low methoxyl pectin, and others
- High-methoxyl pectin is expected to dominate the product type segment in the global pectin market owing to its extensive usage in the food and beverage industry and excessive availability in the market over its compatriots. HM pectin plays an important role as a plant-based texturizer in many functional foods across the globe. It is majorly used in the production of jam and jelly. HM pectin can form gels with sugar and acid.
Market Geographical Analysis
- By region, the global pectin market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa.
- Asia-Pacific pectin market is expected to grow at a higher pace during the forecast period owing to the growing consumption of pectin by the communities and industries through various fruit preservatives, cosmetic, and personal care. Growing urbanization and changing food lifestyles is expected to boost the consumption of pectin by the food and beverage industry during the forecast period. Increasing sales of jellies, soft chew candies, and yogurts by the young communities in emerging nations in Asia-pacific is predicted to further boost the market for pectin globally.
Market Competitive Trends
- The global pectin market is consolidated with a few international players occupying a significant amount of market share. The global pectin market is experiencing new investments by the major players in the industry to boost its market presence footprint in developing countries in the food and beverage industry.
- In September 2019, CP Kelco's annual investment is primarily focused on boosting its current pectin production capacity by 15% in Denmark factory in the next fiscal year to meet the growing global demand for pectin ingredients.
- In August 2018, Cargill Incorporated, invested USD 150 million for the establishment of a new production facility in Brazil, South America to improve its market presence and footprint in the respective region.
- Some of the key players in the global pectin market include CP Kelco U.S., Inc, Cargill, Incorporated, DuPont Nutrition & Biosciences, Naturex AG, and many others.
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