Citrus Pectin Market, by Product Type (High Methoxyl Pectin and Low Methoxyl Pectin), by Application (Food, Beverages, Pharmaceuticals, and Personal Care & Cosmetics), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
The market is expected to grow due to rising middle-class income and a growing population. Urbanization and recent developments in the supply chain both had a big impact on the market. Due to people busy lifestyles, there will likely be a rise in the consumption of functional foods, which will raise the need for citrus pectin.
Market Dynamics
Global citrus pectin market is expected to exhibit a CAGR of 6.6% over the forecast period, owing to increasing awareness about the use of modified citrus pectin. Modified citrus pectin is a chemically altered pectin which can be readily absorbed by the gut. Moreover, modified citrus pectin is helpful in preventing high cholesterol, spread of cancer, for treating people suffering with metal poisoning, and for lowering the risk of heart diseases. However, the various side effects of consuming citrus pectin such as gas, and bloating among others are expected to hamper the growth of the global citrus pectin market during the forecast period.
Among product type, low methoxyl pectin is expected to gain a significant market share during the forecast period owing to increasing demand for products such as sugar free juices, and jellies. This demand is owed to rising awareness about health & fitness, globally.
Among regions, Europe is expected to gain significant market share during the forecast period owing to increasing use of citrus pectin in pharmaceutical applications. For instance, in September 2020, Herbstreith & Fox (H&F Group), Neuenbürg, Germany based a producer of pectin, acquired Givaudan SA (Vernier, Switzerland) manufacturers and sells fragrances and flavors Acquiring Givaudan’s pectin business will help Herbstreith & Fox (H&F Group) to further expand in their markets across Europe, North Africa and the Middle East.
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