Pectin Market Emerging Players May Yields New Opportunities 2021-2031

According to a new study by FMI, the pectin market value is estimated at ~US$ 921 Mn in 2021. The growth in demand for pectin among consumers is primarily driven by its fat- & cholesterol-free nature and its application as a fat substitute in the bakery industry. The bakery industry is one of the industries that cover a wide variety of food products and attract consumers from all age groups. In recent years, growing health concerns among consumers has compelled bakery industry operators to offer fat-free products, thereby potentially raising the demand for pectin. Moreover, the vegan nature of pectin is likely to work to advantage of the bakery industry amid the rise of vegan culture across the globe and notable increase in number of population preferring vegetarian diet.

The pectin market is mainly segmented on the basis of product, application and region:

Based on product, the pectin market is segmented as high methoxyl pectin, and low methoxly pectin. Low methoxly pectin remains the most preferred product, as it requires low sugar to form gels, unlike high methoxly pectin that requires high sugar levels. Although high methoxly pectin holds relatively low share in the market, it is expected to increase by 3-4% over the forecast period.

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Noteworthy application of pectin includes various products such as jams & jellies, beverages, bakery filling & toppings, dairy products & frozen desserts, confectioneries, meat & poultry products, dietary supplements, functional foods, pharmaceuticals, personal care & cosmetics, and others. Among these, owing to wide applications in the bakery industry, consumption for bakery & toppings as well as jams & jellies is likely to account for relatively high sales.

Pectin as a Solution to Various Complex Health Problems

Pectin is a solution to various health issues that were previously unable to cure. For example, niacin is an organic chemical taken by various consumers to supplement their diet with vitamin B3 and various important nutrients. But, it is also known to cause skin flushing in the face and upper body parts, which previously was treated as an allergy. However, after deep research, it turns out that pectin helps in curing skin flushing caused by niacin, and skin flushing is not an allergy but a side effect of consuming more niacin. Similarly, pectin is known to treat ulcerated mouth and throat by simply applying it in the affected areas. Moreover, the replacement of chemicals with plant-based products in pharmaceuticals will continue to favor the growth of the pectin market.

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Environment-friendly Attributes Accounting for Greater Gains

With global warming and its disastrous consequences being constantly in the news, and plastics and other non-biodegradable products being banned by governments, humans are on the lookout for sustainable alternatives. Using pectin to make paper and plastic substitute is the most important and major step that manufacturers have taken towards protecting the earth. Pectin, owing to its gelling property, can make proper paper plates and its plant-derived nature makes it safe for the environment as well. Innovations using pectin can also be seen in its usage to make foams and plasticizers. As pectin is considered safe, it is most commonly used to make edible films so that there is no need to remove the covering and food can be consumed directly.

The pectin market study done by FMI offers deep insights to the reader about the market’s today and forecasted growth. According to FMI, the pectin market is projected to grow with a CAGR of ~7.8% during 2022-2032.

 

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