Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global pectin market is segmented by function type into thickener, stabilizer, gelling agent, fat replacer and others; by application into food & beverage, pharmaceuticals, cosmetics, bakery, dairy products and by regions. According to Organisation for Economic Co-operation and Development, global consumption of dairy products has increased from 411,173 tonnes in 2015 to 435,805 tonnes in 2019.The global pectin market is anticipated to grow with CAGR of 8.1% during the forecast period.
The rising demand from food and beverage industry is driving the pectin market. The pectin is widely used in dairy products as an emulsifier and thickener in order to produce various derivate of dairy products. Additionally, the high application of pectin in cosmetics as a stabilizer is driving the overall pectin market during the forecast period. Moreover, the high demand from the pharmaceuticals is also generating the demand for pectin during the forecast period.
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Europe is expected to lead the pectin market during the forecast period on the account of high usage in food and beverage products coupled with increasing application of pectin in cosmetics industry as a thickener and stabilizer. Europe is followed by North America owing to high consumer preference for healthy food which contains pectin as a major ingredient. Additionally, Asia-Pacific is anticipated to observe high growth owing to the high food and beverage consumption coupled with the rising consumption of dairy product during the forecast period.
Steady Application in Food and Beverage
The pectin market is growing significantly on the account of high demand from the food and beverage industry coupled with high application as a thickener, stabilizer and gelling agent in various food & beverage products. Additionally, the high usage of pectin in dairy products such as yogurt, smoothies and others is expected to support the market growth of the pectin during the forecast period. Moreover, the inclusion of pectin as a dietary fiber and increasing health awareness among the consumers is driving the pectin market.
However, the extraction of pectin from citrus fruits grown in certain geographic locations restricts the availability of raw materials. The lack of raw material increases the price of raw material. Thus, it is expected to hinder the pectin market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global pectin market which includes company profiling of B&V srl, DuPont, Ceamsa, Yantai Andre Pectin Co. Ltd., CP Kelco, Compania Espanola de Algas Marinas, Naturex, Silvateam, Tate & Lyle, Herbstreith & Fox and Ceamsa.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pectin market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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