Citrus Pectin Market
In 2022, it was estimated that the citrus pectin market would be valued at USD 578.9 million. It is anticipated that the market will be valued at USD 635.52 million by the end of 2023. By 2033, the citrus pectin market is expected to grow at a 5.4% CAGR and reach a value of USD 1,080.30 million worldwide.
Citrus pectin, a natural carbohydrate extracted from citrus fruits, has gained widespread popularity owing to its versatile applications across multiple industries including food & beverages, pharmaceuticals, and cosmetics. Its unique gelling, thickening, and stabilizing properties make it an indispensable ingredient in a wide range of products, ranging from jams and jellies to dietary supplements and skincare formulations.
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Demand for Citrus Pectin Market:
The demand for citrus pectin has been steadily rising, fueled by the growing consumer preference for natural and clean label products. As consumers become increasingly health-conscious and seek alternatives to synthetic additives, the demand for citrus pectin as a natural thickening and gelling agent has surged across various food and beverage segments. Moreover, the expanding applications of citrus pectin in pharmaceuticals, driven by its potential health benefits, further contribute to its growing demand.
Growth for Citrus Pectin Market:
The citrus pectin market is witnessing robust growth, with a projected CAGR of 5.4% during the forecast period 2023 to 2033. Factors such as increasing research and development activities to enhance the functionality of citrus pectin, rising investments in citrus processing facilities, and growing awareness about its potential applications are anticipated to drive market growth further. Additionally, the emergence of new technologies for citrus pectin extraction and purification is expected to open up new avenues for market players.
Key Takeaways from the Market Study
- Historically, the citrus pectin market increased at a CAGR of 4% from 2018 to 2022.
- The United States is expected to take over 23.7% of the citrus pectin market in 2023.
- China is expected to control 12.1% of the global citrus pectin market by 2023.
- By 2023, Japan’s citrus pectin market will account for 4.5% of the worldwide market.
- The citrus pectin market in France is expected to grow by 5.3% by 2023.
- The citrus pectin market in the United Kingdom is predicted to grow to 5.8% by 2023.
- High-methoxyl pectin accounts for more than half of the worldwide citrus pectin market.
- The grapefruit category is expected to grow at an 8.4% CAGR during the next ten years to come.
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Key Developments for Citrus Pectin Market:
In recent years, the citrus pectin market has witnessed several key developments, including:
- Introduction of novel citrus pectin formulations with improved functionality and enhanced stability.
- Strategic collaborations and partnerships between key players to expand product portfolios and geographical presence.
- Investments in research and development activities to explore new applications and extraction methods for citrus pectin.
- Expansion of production capacities to meet the escalating demand from various end-use industries.
Prominent players in the citrus pectin market are:
- Fiber Star
- Cargill, Inc.
- DuPont
- Ceamsa
- Naturex, SA
- CP Kelco
- Yantai Andre Pactin Co. Ltd.
- Herbstreith & Fox KG Pektin-Fabriken
- Herbafood Ingredients GmbH
- Silvateam S.pa.
- Florida Food Products, Inc.
- Lucid Colloids Ltd.
Segmentation Analysis of the Citrus Pectin Market
By Product Type:
- High Methoxyl Pectin
- Low Methoxyl Pectin
By Source:
- Oranges
- Tangerines/Mandarins
- Grapefruit
- Lemon and Lime
By Application:
- Jams & Jellies
- Beverages
- Bakery Fillings & Toppings
- Dairy Products & Frozen Desserts
- Confectionery
- Meat & Poultry
- Dietary Supplements
- Functional Food
- Pharmaceutical
- Personal Care & Cosmetics
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East & Africa
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