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Citrus pectin mkt poised to grow at CAGR of 4% until ’29, finds Fact.MR
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Wednesday, 09 October, 2019, 12 : 00 PM [IST]
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In terms of revenue, the global citrus pectin market is projected to expand at a compound annual growth rate of four per cent until 2029, owing to numerous factors. These were among the findings of Fact.MR, which offered insights and forecasts in its recently-published report on the market, which also included global industry analysis, size, share, growth, trends.
Citrus pectin, being an effective emulsification agent, is used for multiple applications, which tightly binds added or existing moisture. It further helps in retarding moisture migrations in a wide variety of applications, such as salsa, meat/burrito filling emulsification, Alfredo sauce emulsification/thickening, and salad dressing.
The demand for clean-label products has been creating significant changes in consumer buying patterns. Such products are witnessing considerable traction through adoption of citrus pectin for their moisture-associated properties.
Manufacturers who are following trends that are in alignment with consumer needs and demands, have shown to garner better brand loyalty in the long run.
Incorporation of citrus pectin in MDM production to boost market growth Fact.MR found that during meat extension processes, the imperative need of retaining added water, while maintaining its texture and edibility has fuelled the demand for citrus pectin, the structural porosity of which aids in texturising and binding water in meat processing systems.
Insoluble citrus peel fibres are capable of improving the quality of mechanically-deboned meat (MDM), so as to apply MDM in higher doses for creating meat blends. Similar innovative applications of citrus pectin are being experimented with.
Key players have focussed their efforts to increase production capacities of citrus pectin and expansion in new regions to cater to a larger demographic. They have also invested in the diversification of current citrus pectin portfolio to meet multiple end uses such as pet food.
Citrus pectin as ideal replacement for eggs to create upsurge in market
According to the study conducted by Fact.MR, allergenic nature of eggs act as a hurdle for some manufacturers in food applications. However, a new variety of citrus pectin has been developed that comprises of high pectin and acts as an egg replacer.
Citrus pectin is typically utilised for extending the functionality of eggs, rather than entirely replacing them. In combination with other hydrocolloids, citrus pectin can act synergistically in replacing an entire egg in gluten-free cakes and muffins.
A major benefit of using citrus pectin in the strategy of egg replacement is its provision of greater taste that complements other ingredients in a mixture, which might cause textural defects otherwise. The replacement of egg by citrus pectin can help to serve a larger demographic.
Global citrus pectin market: Competition overview
Fact.MR has profiled some of the most prominent companies active in the global citrus pectin market, such as Fiberstar Inc., CP Kelco, Compañía Española de Algas Marinas S A (CEAMSA), Herbafood, Florida Food Products, Yantai Andre Pectin Co Ltd, Cargill, Inc, Quadra Chemicals, Herbstreith, & Fox, Lucid Colloids Ltd, DuPont, and Silvateam S p A.
Key market players have shown to hold over 50 per cent revenue share in the citrus pectin market. The emergence of new players in the market is on the lower side.
Major citrus pectin market players are focussing on backward integration for business development and expansion of their existing production capabilities.
Clean label products and the requisite certifications have also been carried out by companies. The clean label trend is likely to dominate the citrus pectin market in the forecast period. The citrus pectin market report discussed clean label trends and other macro-economic factors affecting the market.
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