The new report by Expert Market Research titled, ‘Global Pectin Market Growth, Share, Size, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global pectin market, assessing the market based on its segments like are materials, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 3.1%
The increasing demand for convenient on-the-go yoghurt and jams packages, owing to the superior taste and good combination of these food items with bread or bun, is driving the pectin market. Pectin is a great alternative to excess sugar added to fruit drinks and products. In this regard, the increasing inclination towards dieting and fitness is propelling the demand for the product.
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Moreover, it is also utilised as a stabilising agent in cosmetic products. Hence, the anticipated increase in the demand for beauty and personal care products is likely to provide significant impetus to the market growth in the forecast period. In terms of region, the Asia Pacific region accounts for a significant share of the market owing to the large population base in India and China, along with the increasing purchasing power of the middle-class population.
Pectin Industry Definition and Major Segments
Pectin is defined as a polysaccharide starch found in the fruits and vegetables. The levels of pectin found depends upon the types of fruit or vegetable. For instance, apples contain high level of pectin. Mixing pectin with sugar and acid leads to the development of semi-solid structure, which makes jams and jellies.
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On the basis of raw material, the market can be segmented into:
- Citrus Peel
- Apple Peel
Based on end-use, the market has been segmented into:
- Jams and Preserves
- Drinkable and Spoonable Yoghurt
- Bakery and Confectionery
- Fruit Beverages
- Other Milk Drinks
The regional markets for pectin include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Pectin Market Trends
The key trends in the pectin market include the thriving e-commerce industry, which is propelling the sales of premium packaged bakery and confectionery, and fruit beverages. In addition to this, the rapid development of supermarkets and convenience stores across the emerging economies owing to the robust urbanisation, is further bolstering the demand for clean-labelled pectin-based products, such as jams and milk drinks.
Moreover, the growing research and development activities by the major market players aimed producing milk drinks and jellies with innovative flavours and unique taste are likely to be the crucial trends in the market, which are anticipated to lead to a heightened demand for pectin.
Key Market Players
The major players in the market are:
- CP Kelco U.S., Inc.
- Cargill, Incorporated
- Herbstreith & Fox GmbH & Co. KG
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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