The pectin market is anticipated to thrive at an average CAGR of 5.1% between 2023 and 2033. The market is anticipated to cross a market share of US$ 1.5 billion by 2033 while it holds a revenue of US$ 890.9 million in 2023.
- Key Insights from the Market Trends:
- Shifting Bakery Norms: Changing norms in the bakery industry and an increased focus on naturally derived dough-setting agents are driving the demand for pectin, a versatile ingredient derived from fruits. The market is witnessing significant growth, particularly due to its application in bakery products.
- Packaged Food Industry Dynamics: The expanding packaged food industry is a major consumer of pectin. The resurgence of the Fast-Moving Consumer Goods (FMCG) sector, coupled with a surge in the sales of packaged food items, is boosting the global pectin market. Notably, advanced vendors are producing highly organic pectin extracted naturally.
- Condensing Agent for Jams and Jellies: The emergence of new outlets and products offering jams and jellies with unique flavor twists is creating a demand for condensing agents. Pectin, with its efficient water-binding ability and emulsifying properties, proves to be an ideal choice for these applications, ensuring optimal results.
- Versatility in Meat Products: Pectin’s water-binding ability and gel-like properties make it a suitable ingredient for meat products, facilitating texture modifications and thickening. This versatility contributes to the growing demand for pectin in the food industry.
- Health Benefits of Apple and Citrus-Based Pectin: Advanced varieties of pectin derived from apples and citrus fruits are gaining popularity for their health benefits. These include promoting gut health, aiding in weight loss, controlling blood sugar levels, contributing to heart health, and providing relief from diarrhea and constipation. The perceived health benefits are driving increased demand across various verticals.
- Cost-Effectiveness and Easy Availability: The cost-effectiveness and easy availability of pectin make it a suitable choice for industrial use as an emulsifying agent. These factors contribute to the expansion of the pectin market, catering to diverse industrial applications.
- Bakery Filling & Toppings: The higher consumption of pectin is particularly notable in bakery filling & toppings. As bakeries and their chains witness substantial growth globally, the demand for pectin is expected to flourish, driven by its versatile applications in these products.
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Key Points
- The U.S. market holds the biggest pectin market and is anticipated to cross a value of US$ 129.6 million by 2033. The regional market is expected to thrive at an elevated 4.1% between 2023 and 2033.
- The Japanese market thrives at the highest CAGR of 6.9% during the forecast period. The market is likely to reach a value of US$ 94.8 million by 2033.
- The high methoxyl pectin segment is expected to thrive in the product category because of the wider applications and easy extraction through specific fruits. It is expected to thrive at a CAGR of 5.9% during the forecast period.
- The jams & jellies segment thrives the highest in the source type segments with a CAGR of 5.6% between 2023 and 2033 due to the higher demand for confectionery products that are naturally derived and organic.
“The findings underscore the escalating demand for pectin across various applications, illuminating its significance in product development and consumer preferences. The study positions pectin as a key ingredient driving innovation and market growth, offering valuable insights for industry stakeholders seeking to navigate the evolving landscape.” opines Nandini Roy Choudhury, Client Partner at Future Market Insights.
Competitive Landscape
The key players focus on enhancing the organic content in pectin usage. Also, the sales of industry-specific pectin are likely to expand the pectin market size. Furthermore, the pectin blends in the market are promoting its usage across the verticals, making it the first choice as vendors limit the price and make it accessible. The Key Players in the market are Ingredion Incorporated, Cargill Incorporated, CP Kelco, Tate & Lyle LLC, Koninklijke DSM N.V., Naturex, Lucid Colloids Ltd., DowDupont, Silvateam S.p.A., and Compañía Española de Algas Marinas S.A (CEAMSA)
For instance:
- CP Kelco has introduced its new batch of pectin powder that is organically derived and is ready to use as a gelling, thickening, stabilizing, and pH-balancing agent. These GENU pectin are differentiation in two types–High methylester (HM), Low methylester (LM).
- Cargill Incorporated adds nature-derived pectin with nutritional benefits for bakery’s fruity items, dairy & non-dairy drinks, fermented dairy, gummies, jellies and jam.
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Major Contributors of the Pectin Market are
- Cargill Incorporated
- Ingredion Incorporated
- CP Kelco
- Tate & Lyle LLC
- Koninklijke DSM N.V.
- Naturex
- Lucid Colloids Ltd.
- DowDupont
- Silvateam S.p.A.
- Compañía Española de Algas Marinas S.A (CEAMSA)
Key Segments
Product Type:
- High Methoxyl Pectin
- Low Methoxyl Pectin
- Amidated
- Non-amidated
Application:
- Bakery Fillings & Toppings
- Beverages
- Confectionery
- Dairy Products & Frozen Desserts
- Dietary Supplements
- Functional Food
- Jams & Jellies
- Meat & Poultry Products
- Personal Care & Cosmetics
- Pharmaceutical
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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