Global Pectin Market - Growth, Trends and Forecasts (2017 - 2022)
Pectin Market The market accounted to USD XX billion in 2016 and is expected to reach USD XX billion by 2022, registering a CAGR of 7.2% during 2017-2022 (the forecast period). Increasing health concerns and the growing demand for natural and organic ingredients are expected to provide the anticipated boost to the global pectin market during the forecast period.
“Availability of substitutes threatens the market growth.”
Xanthan gum, gelatin, carrageenan, alginates, agar, guar, locust bean gum, gum arabic and CMC are the widely available hydrocolloids for end-use industries, such as food, oil & gas, chemical, and personal care. The wide availability of these products and low costs incurred in developing them are lagging the market for pectin growth. Due to the high demand from various industries, the shortage of these products is creating an opportunity for the pectin market.
“Spreads and Baked Goods Occupy a Major Share Among the End-Users.”
Pectin is primarily used for its gelling, stabilizing and thickening properties. The connecting properties of jams, jellies, and organic product spreads are, to a great extent, related to pectin, which is a smooth gel with a lustrous surface, low syneresis, and great spreadability. In addition, pectin is utilized as part of most heating stable organic product arrangements and fillings, since it provides high dissolving temperature and furthermore guarantees the strength of shape while preparing.
“High Consumption of Processed Food Leads Europe to Stay Ahead in the Race.”
Europeans consume baked goods, smoothies and salads in their daily meals. High consumption of these products has placed Europe on top of the market, as the processed foods are paired with toppings, dressings, spreads, etc., which contain high pectin levels. However, with the growing demand for processed foods, manufacturers are expected to expand their production to sustain their market position. Competitive Insights
The global pectin market is highly concentrated with major global players and is expected to remain the same during the forecast period, as the companies are expanding their production units, geographical presence, and product innovations. New local vendors are entering the market, with a price and unique strategy to gain attention in the particular region.
Some of the key players in pectin industry are:
Cargill B&V srl Ceamsa Yantai Andre Pectin Co. Ltd. DuPont Danisco CP Kelco Our report on the global pectin market covers the following: