Nearly 80% of Clean Label Pectin Demand Concentrated in Food and Beverages Sector: Study
The rising demand for packaged and convenience food has emerged as a chief driver of the clean label pectin market. Future Market Insights (FMI) in a new study has forecast the market to exhibit nearly 6% CAGR in 2021. While growth in 2020 is expected to be hampered due to the unprecedented COVID-19 outbreak, market will set on path of recovery as economies gradually stabilize. With consumers increasingly focusing on cleaner ingredient list, even as the demand for packaged food is rising, food-makers are compelled to replace synthetic additives with natural ingredients.
Clean Label Pectin Market
A recent market study published by Future Market Insights on the Clean Label Pectin Market...
Meanwhile, application of pectin is poised to surge in non-alcoholic as well as ready-to-drink beverages. Clean label pectin is known to have several health benefits and aid in weight loss and diabetes management. A rising awareness of these factors are expected to create growth opportunities for the market.
With the incidence of diabetes and obesity surging worldwide, focus towards cleaner ingredients is expected to increase. Moreover, consumers are better informed and more willing than before to spend on healthy products. Pectin is known to an impressive nutrient profile, covering vitamin C, carotenoids, fibers, vitamin B, proteins, salts, and other nutrition. Since consumers worldwide are leaning towards products made from natural ingredients, the demand for clean label pectin is poised to surge considerably in the coming years.
- Food and beverages represent leading share among application segments. FMI has forecast it to account for 78.8% of the market in 2020
- Europe will remain a highly lucrative market for clean label pectin, holding the dominant share of 38.6% in 2020
- Orange has emerged as the most preferred source for extracting clean label pectin. FMI has forecast it to account for 59.8% of the market in terms value
- High methoxyl pectin will witness surging demand in response to increasing jams and jellies production
“Companies producing citrus pectin are focusing on capacity and portfolio expansion to gain competitive advantage. Besides this, ample investment in research and development is leading to frequent product launches, enabling steady growth of the market,” revealed a lead analyst at FMI.
Increasing awareness among consumers about clean label ingredients is enabling growth in the market. The incidence of obesity and diabetes is forecast to rise consistently around the world, compelling consumers to rethink their food and living choice. According to the World Health Organization (WHO), more than 1.9 billion adults, aged 18 years and above were overweight in 2016.
Obesity is preventable and studies have revealed that an increasing number of consumers are willing to consume drinks and food with clean label to lead a healthier life. Driven by these factors, the market is expected to witness surging demand in the coming years.
Who is winning?
Some of the leading companies operating in the market are DuPont De Nemours And Company, Herbstreith & Fox Group, Cargill, Inc., Naturex S/A, CP Kelco, Lucid Colloids Ltd., Compañía Española de Algas Marinas S.A. (CEAMSA), DSM Andre Pectin Co. Ltd Silvateam s.p.a., and many others.
Besides product launches companies are focusing on capacity expansion to gain competitive edge. For instance:
- DSM increased its shareholding in Andre Pectin from 29% to 75% in the year 2019
- CP Kelco had launched a citrus-based texturizing agent exclusively for desserts in 2018
- Cargill has invested US$ 150 million for construction of HM pectin in August 2018
Get Valuable Insights into Clean Label Pectin Market
Future Market Insights, in its new report, presents an unbiased analysis of the global clean label pectin market, covering historical demand data and forecast figures for the period between 2020 and 2028. The study divulges compelling insights into growth witnessed in the market. Based on product type the market can be segmented into High Methoxyl Pectin and Low Methoxyl Pectin. In terms of source, the market can be segmented into Orange, Apple, Lemon and Others. Based on application, the market can be segmented into Food and Beverages, Dietary Supplements, Pharmaceutical, Personal care & Cosmetics and Others. Regionally, the market covers North America, Latin America, Europe, Japan, APEJ, and MEA.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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