(I-BusinessNews.Com, November 20, 2019 ) Market Overview
• Pectin is a natural component from plants and found abundantly in apples and citrus fruits. It is widely used in fruit processing industry for confectionary applications and acts as a stabilizing agent in production of acidified milk beverages and yoghurt drinks. It occurs naturally in terrestrial plants and found abundantly found in citrus fruits, apple and sugar beet pulp. The key functions of pectin in various food and non-food applications includes gelling, thickening, stabilizing, acid-stability and pH balancing.
Market Dynamics:
• It is increasingly used to stabilize acidic protein drinks including drinking yogurt, besides being a fat substitute in baked food products. Increasing consumption of pectin in the production of various fruit-based and other medical & cosmetic products is further expected to boost the market for pectin globally during forecast period. In cosmetics and personal care products, pectin is used in the formulation of body & hand products, makeup foundations, shampoos, hair conditioners, other hair products. Additionally, growing consumer interests towards vegan and organic products and ability to provide effective alternative for gelatin is expected to boost market for pectin globally during forecast period.
• However, availability of alternatives for pectin such as gelatin, sugar and corn starch and high cost of these products are the primary factors hindering the growth of pectin globally during forecast period.
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Market Segmentation
• Global pectin market is segmented on the basis of product type into high methoxyl pectin, low methoxyl pectin, and others
• High-methoxyl pectin is expected to dominate the product type segment in global pectin market owing to its extensive usage in food and beverages industry and excessive availability in the market over its compatriots. HM pectin plays important role as a plant-based texturizer in many functional foods across the globe. It is majorly used in the production of jam and jelly. HM pectin has ability to form gels with sugar and acid.
Geographical Analysis
• By region, the global pectin market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa.
• Asia-Pacific pectin market is expected to grow at higher pace during forecast period owing to growing consumption of pectin by the communities and industries through various fruit preservatives, cosmetic and personal care. Growing urbanization and changing food lifestyles is expected to boost the consumption of pectin by the food and beverages industry during forecast period. Increasing sales of jellies, soft chew candies and yogurts by the young communities in emerging nations in Asia-pacific is predicted to further boost market for pectin globally.
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Competitive Analysis
• The global pectin market is consolidated with a few international players occupying significant amount of market share. Global pectin market is experiencing new investment by the major players in the industry to boost their market presence foot print in developing countries in food and beverages industry.
• In September 2019, CP Kelco annual investment is primarily focused on boosting its current pectin production capacity by 15% in Denmark factory in next fiscal year to meet the growing global demand for pectin ingredient.
• In August 2018, Cargill Incorporated, invested USD 150 million for establishment of new production facility in Brazil, South America to improve its market presence and foot print in respective region.
• Some of the key players in the global pectin market includes CP Kelco U.S., Inc, Cargill, Incorporated, DuPont Nutrition & Biosciences, Naturex AG, and many others.
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