The pectin powder market is anticipated to reach a value of US$ 429.5 million in 2023. From 2023 to 2033, demand is anticipated to grow at a CAGR of 4.3%, with a target value of US$ 652.1 million by 2033.
During the forecast period, the market is anticipated to maintain its upward trend owing to its current stable expansion. The food and beverage industry’s expanding demand for natural and clean-label products, as well as the growing popularity of vegan and vegetarian diets, are the primary causes contributing to this rise.
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Rising awareness of the advantages of consuming pectin in terms of health is one of the key factors driving the pectin powder market. Pectin is a soluble fiber that has been proven to improve gut health by lowering cholesterol levels and assisting with digestion, and other factors. Food and beverage items with pectin as a main component are becoming increasingly popular as customers grow more health-conscious.
The growing demand for components with clean labels is another element fueling the market expansion. The components in their meals are a growing source of concern for consumers, who are actively looking for products made with solely natural and recognizable ingredients. Pectin powder, which comes from fruits like apples and citrus, is a popular ingredient since it is thought to have a clean label.
The market is also booming because of the inclination towards vegan and vegetarian diets. Given its capacity to serve as a gelling agent in the absence of gelatin produced from animals, pectin is a prominent component in vegan and vegetarian food products. Pectin powder is a common element in these diets, and demand for it is growing along with the number of individuals who follow them.
The market offers several prospects for expansion, particularly in emerging economies. There is a rising need for nutrient-dense, cost-effective food and beverage products as the world’s population continues to rise. Manufacturers in these areas are drawn to pectin power since it is a flexible ingredient that can be utilized in different food and beverage items.
One of the highly important developments is the rise in demand for organic and non-GMO ingredients. Customers are increasingly looking for products that are produced utilizing sustainable agricultural methods and are free of genetically modified organisms. Therefore, there is an increasing need for organic pectin powder that is free of synthetic pesticides and other dangerous chemicals.
The adoption of pectin powder as a component to substitute fat is a trend that is gaining popularity in the pectin powder industry. Manufacturers that want to lower the fat content of their goods without jeopardizing taste or texture find pectin to be an appealing substitute because of its exceptional capacity to replicate the texture and mouthfeel of fat.
Pectin powder is becoming a more popular functional component for nutraceuticals and nutritional supplements. The texture, stability, and bioavailability of these goods can all be enhanced with pectin which is a natural and potent substance. This makes pectin powder a desirable choice for producers in this industry.
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Europe currently holds a significant share of the global pectin powder market and is anticipated to expand rapidly over the next ten years. Given the existence and expansion of the product’s end-use applications, there is a significant demand for the product in the region. Customers in the region are consuming less meat and switching to vegan and plant-based goods. As a result, there is an increase in demand for substances made from plants, including pectin powder, which is entirely made from plants.
KEY TAKEAWAYS
- The market in the EU-4 is anticipated to rise, exhibiting a CAGR of 2.6% through 2033.
- The United States is expected to develop at a 3.7% CAGR during the forecast period.
- With a CAGR of 8.8% over the forecast period, India is predicted to develop promptly in the market.
- The market in China is expected to proliferate, registering a CAGR of 4.7% over the forecast period.
- The United Kingdom is estimated to grow decently registering a CAGR of 3.1% until 2033.
COMPETITIVE LANDSCAPE
Key players in the pectin powder market are E. I. DuPont De Nemours And Company, Cargill, Inc., Naturex S/A, CP Kelco, Herbstreith & Fox Group, Compania Espanola de Algas S.A., Silvateam s.p.a., DSM Andre Pectin Co. Ltd., Lucid Colloids Ltd., and others.
These market players are actively engaged in developing innovative formulations and expanding their product portfolios to cater to the diverse demands of the market. They are investing in research and development as well as establishing strategic partnerships and collaborations. They are also leveraging advanced technologies to enhance the quality and consistency of their offerings while adopting sustainable practices to minimize their environmental impact.
RECENT DEVELOPMENTS
- In January 2023, The Herbstreith & Fox Group introduced improved fruit spreads without additional sugar called H&F Pectin.
- In March 2022, a new set of ingredients was launched by CP Kelco. They were created especially for meat substitutes made from plants.
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Pectin powder – Market segmentation
On the basis of Product Type:
- High methoxyl pectin
- Low methoxyl pectin
On the basis of Application:
- Food and beverage
- Dietary supplements
- Pharmaceuticals
- Personal care and cosmetics
- Others
On the basis of Region:
- North America
- Latin America
- Europe
- Japan
- The Asia Pacific excluding Japan
- Middle East and Africa
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