The report “Pectin Market by Type (HM Pectin, LM Pectin), Raw Material (Citrus fruits, Apples, Sugar beet), Function, Application (Food & beverages, Pharmaceutical & Personal Care Products, Industrial Applications), and Region – Global Forecast to 2025″, The global pectin market size is estimated to be valued at USD 1.0 billion in 2019 and is expected to reach a value of USD 1.5 billion by 2025, growing at a CAGR of 6.5% during the forecast period. Increase in functional food & beverage consumption, the multi-functionality of pectin, and the rise in the use of natural ingredients in foods due to greater consumer awareness about healthy diets is driving the global pectic industry.
The pharmaceutical & personal care products application segment is estimated to witness the fastest growth in the pectin market, in terms of value, in 2019
Pectin is used in the pharmaceutical industry as a stabilizer, binder, film-forming agent, and suspension agent. It is disintegrated in tablet formulations and is used in other topical therapeutic bases. It is one of the most important and widely used excipients in the pharmaceutical industry. The production of pharmaceutical products is growing because of the rising population and the increasing number of diseases. Emerging countries like China, Brazil, and India are markets that are growing rapidly in this area, which is projected to drive the global pectin market size.
In the pharmaceutical industry, pectin is used to reduce blood cholesterol levels and gastrointestinal disorders. Pectin also helps to keep an emulsion from separating into its liquid and oil components. It also increases the thickness of the aqueous (water) portion of personal care and cosmetics products. Due to the multi-functionality and natural origin, pectin is gaining popularity in cosmetic applications such as lotions, after shower balms, aftershave creams, and gels.
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The citrus fruits segment, by raw material, is estimated to account for the largest market share, by value, in 2019
Based on raw material, the pectin market is segmented into citrus fruit, apple, sugar beet, and others, which include sunflower, pear, guava, quince, plum, and berries. The demand for citrus fruits from the pharmaceutical & personal care industries has drastically increased over the last decade. Citrus fruits contain active phytochemicals that can protect the health of the consumer, and in addition to this, they also abundantly provide vitamin C, folic acid, and potassium.
The increasing demand for pectin in Europe and Asia Pacific is driving the growth of the pectin market.
The European and Asia Pacific countries are witnessing increasing demand for pectin mainly in the food & beverages industries. Europe accounted for the largest share of the global pectin market due to the high demand for convenience foods & functional dairy products and increasing consumption of jam & jellies and baked goods.
Asia Pacific is likely to be the fastest-growing region in the global pectin industry. The growth in the market is driven by the growing demand for convenience foods, functional dairy products, and baked goods, coupled with the changing consumer lifestyle in the region.
Key players in this market include DowDupont (US), Cargill, Incorporated (US), Ingredion Incorporated (US), CP Kelco (US) and Koninklijke DSM N.V. (Netherlands). Major players in this market are focusing on increasing their presence through new product launch, expansions & investments, mergers & acquisitions, partnerships, collaborations, and agreements. These companies have a strong presence in North America and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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Key questions addressed by the report:
- What are the new application areas for the pectin market that companies are exploring?
- Who are some of the key players operating in the pectin market and how intense is the competition?
- What kind of competitors and stakeholders would be interested in this market? What will be their go-to-market strategy, and which emerging market will be of significant interest?
- How are the current R&D activities and M&A’s in the pectin market projected to create a disrupting environment in the coming years?
- What will be the level of impact of new product launches on the revenues of stakeholders, due to the benefits offered by pectin market, such as increasing revenue, environmental regulatory compliance, and sustainable profits for the suppliers?
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