The citrus-pulp-market is poised to grow steadily in between 2020 and 2027. Improved packaging technology and storage features are contributing to the market growth. Consumers are relying on healthy food habits, and it is likely demand will grow in 2020 at a steady clip.
According to a new report published by Future Market Insights, the citrus pulp market is projected to surpass a valuation of US$ 625 million by the end of 2020. Innovations in processing methods including osmosis, vacuum, and microwave drying have brought about a transformation in the citrus pulp landscape.
Global demand for citrus pulp has risen steadily in recent times, and is expected to continue even through the coronavirus pandemic.
“Investment is largely noticed in organically cultivated, all-natural and gluten free products with attractive packaging solutions. Leading players are collaborating with product manufacturers for a better insight so as to strengthen their regional market scenario,” states the FMI Analyst.
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Citrus Pulps Market – Important Takeaways
- Use of plant-based end products in pharmacy applications will continue to create opportunities
- Demand from bakery industry driving revenues
- Organic citrus pulp is gaining significant traction as consumers are avoiding synthetic ingredients.
- China and India are set to present lucrative growth opportunities due to rising investments in food industry.
Citrus Pulps Market – Driving Factors
- Innumerable use of citrus pulps as a flavouring agent in making cakes, biscuits, functional food and as a fragrant in cosmetics bolsters the demand for it.
- Rising preference plant-based drugs in pharmaceuticals and inclination towards a healthier lifestyle are bringing about a steady market growth.
- Use of citrus pulps as a preservative to enhance shelf-life is one of the major market drivers.
- Owing to rising income, shifting life-style, urbanization and rising disposable income we see a growth in demand in developing economies like India and China.
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Citrus Pulps Market – Key Restraints
- Lack of standardization in regulations with organic cultivation is causing a major loss.
- Fluctuating price structure is hampering market growth to a great extent.
Expected Impact on Market by Coronavirus Outbreak
Food retailers and manufacturers have witnessed significant loss in these unprecedented times. Advanced technology and improving consumer behaviours are boosting market growth now. Personal care and pharmaceuticals will witness a bolstering demand for pulps due to shifting preferences towards plant-based products. US is anticipated to take almost 3 years to reach pre-pandemic levels. USA is an important market for Spanish Citrus but strict government regulations reduced the agriculture levels too while slower trade in Europe declined the production by 10,000 tons.
Major players in the market includes Cargill Corp., Compania Espanola de Algas Marinas S.A., E.I. DuPont De Nemours and Company, Fiberstar Inc., Citromax S.A.C.I., CP Kelco U.S. Inc., Herbafood Ingredients GmbH, Firmenich SA
All of these leading players work on building collaborations with major manufacturers to magnify their production capacity. They have introduced all-nature, non-GMO products to facilitate consumption.
For instance, CP Kelco introduced Genu brand of pectin, which aimed towards shelf-stable beverage manufacturing’s.
Another example is of DuPont De Nemours and Company, that unveiled Grindsted Pectin to reduce sugar in jams, ice creams etc., which worked as a substitute for sucrose solutions.
Fibrestar.Inc. introduced non-allergic products comprising of soluble fibre and protein.
More on the report
FMI’s analysis presents segmentation on the basis of end-use (bakery, meat, poultry, cosmetics, sauces, snacks etc.), form (organic, conventional), source (lime, lemon, orange etc.) and region (North America, Europe, South Asia, and East Asia)
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Table Of Content
1. Global Citrus Pulp Market Executive Summary
1.1. Vertical Specific Market Penetration and Product Mapping
1.2. Competitive Blueprint
1.3. Key Market Acumens
2. Global Citrus Pulp Market Overview
2.1. Global Citrus Pulp Market Introduction
2.2. Global Citrus Pulp Market Taxonomy
2.3. Global Citrus Pulp Market Definition
3. Citrus Production
3.1. Production v/s Consumption (Y-o-Y), 2014-2019
3.2. Top Importing and Exporting Countries
4. Global Citrus Pulp Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Market Trends
4.5. Macro-Economic and Forecast Factors – Relevance & its Impact
4.6. Key Regulations
5. Global Citrus Pulp Market Background
5.1. Cost Structure Analysis
5.2. Value Chain Analysis
5.2.1. List of Key Market Participants
5.3. Key Success Factors
5.4. Availability of Citrus Varieties by season
5.5. Citrus Pulp Innovation
5.6. Clean Labels Creates New Opportunities for Citrus Pulp
5.7. Key Participants Market Presence (Intensity Map) By Region
6. Global Citrus Pulp Market Pricing Analysis
6.1. Citrus Pulp Market – Price Point Analysis
6.2. Pricing Analysis by Source
6.3. What are the factors effecting the prices?
7. Global Citrus Pulp Market Size (US$ Mn) & Volume (Tons) and Forecast, 2013-2027
7.1. Global Citrus Pulp Market Y-o-Y Growth