by Citrus pectin is a soluble fiber extracted from citrus fruits such as lemons and oranges, which is widely used as a gelling agent and stabilizer in food and pharmaceutical industries. Citrus pectin helps in maintaining blood sugar levels, improving digestion, lowering cholesterol levels, and aiding weight loss. It is commonly used in jams, jellies, and fruit-based spreads as a gelling agent to improve texture. Citrus pectin has prebiotic properties that support the growth of beneficial bacteria in the gut and promote digestive health. The growing demand for soluble fibers and natural ingredients in functional foods and dietary supplements has propelled the demand for citrus pectin in recent years.
The global citrus pectin market is estimated to be valued at US$ 580.6 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the citrus pectin market is the increasing usage in the pharmaceutical sector. Citrus pectin has gain popularity as an excipient in the formulation of tablets because of its ability to control drug release and coat particles. It is used in manufacturing of medicines to treat diarrhea, high cholesterol, and high blood pressure levels. The prebiotic properties of citrus pectin support cardiovascular and digestive health. This has led to a rising demand for citrus pectin from nutraceutical and dietary supplement manufacturers. The boost in functional food products and focus on preventive healthcare are anticipated to drive the growth of the citrus pectin market over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the citrus pectin market is moderate as it requires large capital investments and technical expertise to enter this market.
Bargaining power of buyers: The bargaining power of buyers in the citrus pectin market is high as citrus pectin is widely available from various suppliers globally.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw materials required are commodities and available from numerous suppliers.
Threat of new substitutes: The threat of new substitutes is moderate as there are few substitutes available for citrus pectin in applications.
Competitive rivalry: The competitive rivalry in the citrus pectin market is high due to the presence of numerous international and regional players competing based on quality, price, innovation.
Key Takeaways
The global citrus pectin market is expected to witness high growth during the forecast period of 2023-2030. The global citrus pectin market is estimated to be valued at US$ 580.6 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023-2030.
Asia Pacific is expected to be the fastest growing region in the citrus pectin market during the forecast period due rising demand from food processing industries in China and India. China is the largest producer and consumer of citrus fruits globally. Increasing demand from food processing industries in China and India is driving market growth. North America is another major market for citrus pectin owing to growing health consciousness among consumers in the US and Canada.
Key players operating in the citrus pectin market are Herbstreith & Fox GmbH, Cargill Inc., CP Kelco, DSM Andre Pectin, Silvateam S.p.A, DuPont de Nemoursm Inc., Naturex A.G., and Krishna Pectins Pvt. Ltd. Herbstreith & Fox GmbH is one of the leading manufacturers of citrus pectin globally.
