An In-depth Look at Sale of Pectin in Korea from 2023 to 2033
Demand for pectin in Korea is expected to be worth US$ 5.12 million in 2023. In 2022, the demand size was tipped to be US$ 5.00 million. The demand in Korea is projected to continue at a steady rate over the forecast period, with a CAGR of 2.6%. By 2033, the sale of pectin in Korea is anticipated to attain a value of US$ 6.63 million.
Key Insights for Pectin Industry in Korea
Koreans are indulging in bakery, confectionery, and other sweet products on a heavy basis. The consumer's sweet tooth is a significant factor contributing to the increased sales of pectin in Korea.
Consumers in this country are increasingly becoming aware of the practices related to food production. As the process of extracting pectin is sustainable, the settling agent is viewed positively in Korea.
Enthusiasts of fitness and plant-based diets are growing in Korea. Pectin, as a naturally derived plant-based product, is thus becoming popular as a gelling agent in Korea.
Attributes
Details
Industry Size for Korea in 2023
US$ 5.12 million
Expected Industry Size for Korea by 2033
US$ 6.63 million
Forecasted CAGR between 2023 to 2033
2.6%
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Key Trends Shaping the Demand for Pectin in Korea
Pectin provides gelling, thickening, and settling qualities to products such as baked goods and jams. Thus, with food sectors such as baking and confectionery increasing in popularity, the sale of pectin in Korea is growing.
Pectin has a place in traditional Korean sweets. For example, Gwapyeon is a traditional Korean sweet made from fruits that are high in pectin. Thus, Korean consumers are already inclined toward the taste of pectin.
Pectin extraction is dependent on the fruits that contain the substance. Irregular weather patterns often lead to low quantities of pectin-rich fruits. Thus, the problem of a lack of available pectin is faced in Korea.
There are numerous alternatives to pectin available as gelling agents in Korea. For example, gelatin is a popular product that is a prominent alternative to pectin.
In addition to the food industry, pectin is also used in the medical industry. The use of pectin has been linked to improving intestine health and stools. Thus, the demand for pectin in Korea is not concentrated just on sweets and is multi-dimensional.
Comparative View of Pectin in Key Markets
Two regions other than Korea are studied for pectin. Trends and challenges to sale of pectin are provided for all three regions. The regions by name are Japan and Western Europe. It can be seen that while pectin may currently face challenges in Korea, the positive outlook for the country's food industry, growing consumer awareness, and the increasing demand for sustainable ingredients suggest a potential brighter future for pectin in the Korean industry.
Demand for Pectin in Korea:
Attributes
Demand for Pectin in Korea
CAGR (2023 to 2033)
2.6%
Valuation (2023)
US$ 5.12 million
Key Trend
Growing consumer preference for natural and clean-label products
Key Challenge
Pectin production relies heavily on the steady supply of raw materials
Demand for Pectin in Japan:
Attributes
Demand for Pectin in Japan
CAGR (2023 to 2033)
7.0%
Valuation (2023)
US$ 48.57 million
Key Trend
Pectin is increasingly being utilized in the development of low-sugar food products
Key Challenge
Pectin faces competition from synthetic and alternative thickening agents
Demand for Pectin in Western Europe:
Attributes
Demand for Pectin in Western Europe
CAGR (2023 to 2033)
4.4%
Valuation (2023)
US$ 239.43 million
Key Trend
The pharmaceutical industry is adopting pectin for its gelling properties in drug delivery systems
Key Challenge
The volatility in the prices of fruits, the primary source of pectin, can impact production costs
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Category-wise Insights
Stabilizing Quality of High Methoxyl Pectin Makes the Product Popular in Korea
Korea primarily uses high methoxyl pectin as the chosen pectin type. For 2023, high methoxyl pectin is predicted to hold 58.4% of the industry share by product type. High methoxyl pectin (HMP) is used as a gelling agent due to its rapidly setting properties. HMP also adds a sweet quality to the food. Thus, HMP is highly regarded in Korea.
Demand for Pectin in Korea Based on Product Type
High Methoxyl Pectin
Industry Share in 2023
58.4%
Pectin's Natural Appeal Fuels Growing Adoption in Jams and Jellies
Jams and jellies are common types of foods in which pectin is used across Korea. For 2023, jams & jellies are expected to account for 18.5% of the industry share by application. Consumers here prefer jams and jellies that taste as natural as possible. Pectin grants a natural feel to jams and jellies. Thus, both consumers and food-makers are using pectin-infused jams and jellies.
Demand for Pectin in Korea Based on Application
Jams & Jellies
Industry Share in 2023
18.5%
Competitive Landscape
In the competitive landscape of pectin in Korea, numerous local industry players capitalize on the abundance of fruits containing pectin. However, the import of pectin remains high, with leading suppliers being India, Brazil, and the United States. Korean manufacturers actively explore new techniques for pectin extraction, aiming to streamline the process and enhance competitiveness in the market.
Recent Developments Observed in Pectin in Korea
In October 2023, the local food brand CJ CheilJedang launched a new line of fruit juices prominently featuring pectin as a key ingredient.
In August 2022, LG Chem, a local chemical company, developed a novel bioplastic made from pectin.
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Some of the Key Players Offering Pectin in Korea
CJ CheilJedang
LG Chem
DuPont Korea
CP Kelco Korea
Jungbunjang
Cargill Korea
Kerry Korea
Brenntag Korea
Ingredion Korea
JRS Korea
Scope of the Report
Attribute
Details
Estimated Industry Size in 2023
US$ 5.12 million
Projected Industry Size by 2033
US$ 6.63 million
Anticipated CAGR between 2023 to 2033
2.6% CAGR
Historical Analysis of Demand for Pectin in Korea
2018 to 2022
Demand Forecast for Pectin in Korea
2023 to 2033
Report Coverage
Industry Size, Industry Trends, Key Insights for Pectin in Korea, Insights on Global Players and Leading Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers
Key Companies Profiled
CJ CheilJedang
LG Chem
DuPont Korea
CP Kelco Korea
Jungbunjang
Cargill Korea
Kerry Korea
Brenntag Korea
Ingredion Korea
JRS Korea
Key Provinces Analyzed
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Key Segments
By Product Type:
High Methoxyl Pectin
Low Methoxyl Pectin
Amidated
Non-amidated
By Application:
Bakery Fillings & Toppings
Beverages
Confectionery
Dairy Products & Frozen Desserts
Dietary Supplements
Functional Food
Jams & Jellies
Meat & Poultry Products
Personal Care & Cosmetics
Pharmaceutical
By Province:
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Frequently Asked Questions
What is the Industry Size of Pectin in Korea?
The industry size of pectin in Korea is valued at US$ 5.12 million in Korea in 2023.
At What Rate is Demand for Pectin Growing in Korea?
The pectin industry is forecasted to develop at a rate of 2.6% in Korea through 2033.
What Will be the Korean Industry Size of Pectin in 2033?
The industry size for pectin is estimated to reach US$ 6.63 million in Korea by 2033.
Who are the Prominent Companies in Korea that Sell Pectin?
CJ CheilJedang, LG Chem, DuPont Korea, and CP Kelco Korea are some of the prominent companies in Korea that sell pectin.
Which Product in Korea Prominently Features Pectin?
Jams & jellies are the prominent type of product which feature pectin, with an expected industry share of 18.5% in 2023.
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Product Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Product Type, 2023 to 2033
5.3.1. High methoxyl
5.3.2. Low methoxyl
5.3.2.1. Amidated
5.3.2.2. Non-amidated
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Application
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Application, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Application, 2023 to 2033
6.3.1. Jams & Jellies
6.3.2. Beverages
6.3.3. Bakery Fillings & Toppings
6.3.4. Dairy Products & Frozen Desserts
6.3.5. Confectionery
6.3.6. Meat & Poultry Products
6.3.7. Dietary Supplements
6.3.8. Functional Food
6.3.9. Pharmaceutical
6.3.10. Personal Care & Cosmetics
6.3.11. Others
6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Region, 2023 to 2033
7.3.1. South Gyeongsang
7.3.2. North Jeolla
7.3.3. South Jeolla
7.3.4. Jeju
7.3.5. Rest of
7.4. Market Attractiveness Analysis By Region
8. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
8.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Product Type
8.2.2. By Application
8.3. Market Attractiveness Analysis
8.3.1. By Product Type
8.3.2. By Application
8.4. Key Takeaways
9. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
9.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Product Type
9.2.2. By Application
9.3. Market Attractiveness Analysis
9.3.1. By Product Type
9.3.2. By Application
9.4. Key Takeaways
10. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Product Type
10.2.2. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Product Type
10.3.2. By Application
10.4. Key Takeaways
11. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Product Type
11.2.2. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Product Type
11.3.2. By Application
11.4. Key Takeaways
12. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Product Type
12.2.2. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Product Type
12.3.2. By Application
12.4. Key Takeaways
13. Market Structure Analysis
13.1. Competition Dashboard
13.2. Competition Benchmarking
13.3. Market Share Analysis of Top Players
13.3.1. By Regional
13.3.2. By Product Type
13.3.3. By Application
14. Competition Analysis
14.1. Competition Deep Dive
14.1.1. Arshine
14.1.1.1. Overview
14.1.1.2. Product Portfolio
14.1.1.3. Profitability by Market Segments
14.1.1.4. Sales Footprint
14.1.1.5. Strategy Overview
14.1.1.5.1. Marketing Strategy
14.1.1.5.2. Product Strategy
14.1.1.5.3. Channel Strategy
14.1.2. CP Kelco
14.1.2.1. Overview
14.1.2.2. Product Portfolio
14.1.2.3. Profitability by Market Segments
14.1.2.4. Sales Footprint
14.1.2.5. Strategy Overview
14.1.2.5.1. Marketing Strategy
14.1.2.5.2. Product Strategy
14.1.2.5.3. Channel Strategy
14.1.3. Herbstreith& Fox KG
14.1.3.1. Overview
14.1.3.2. Product Portfolio
14.1.3.3. Profitability by Market Segments
14.1.3.4. Sales Footprint
14.1.3.5. Strategy Overview
14.1.3.5.1. Marketing Strategy
14.1.3.5.2. Product Strategy
14.1.3.5.3. Channel Strategy
14.1.4. Cargill Incorporated
14.1.4.1. Overview
14.1.4.2. Product Portfolio
14.1.4.3. Profitability by Market Segments
14.1.4.4. Sales Footprint
14.1.4.5. Strategy Overview
14.1.4.5.1. Marketing Strategy
14.1.4.5.2. Product Strategy
14.1.4.5.3. Channel Strategy
14.1.5. Ingredion Incorporated
14.1.5.1. Overview
14.1.5.2. Product Portfolio
14.1.5.3. Profitability by Market Segments
14.1.5.4. Sales Footprint
14.1.5.5. Strategy Overview
14.1.5.5.1. Marketing Strategy
14.1.5.5.2. Product Strategy
14.1.5.5.3. Channel Strategy
14.1.6. Pomona’s Universal
14.1.6.1. Overview
14.1.6.2. Product Portfolio
14.1.6.3. Profitability by Market Segments
14.1.6.4. Sales Footprint
14.1.6.5. Strategy Overview
14.1.6.5.1. Marketing Strategy
14.1.6.5.2. Product Strategy
14.1.6.5.3. Channel Strategy
14.1.7. Koninklijke DSM N.V.
14.1.7.1. Overview
14.1.7.2. Product Portfolio
14.1.7.3. Profitability by Market Segments
14.1.7.4. Sales Footprint
14.1.7.5. Strategy Overview
14.1.7.5.1. Marketing Strategy
14.1.7.5.2. Product Strategy
14.1.7.5.3. Channel Strategy
14.1.8. Naturex
14.1.8.1. Overview
14.1.8.2. Product Portfolio
14.1.8.3. Profitability by Market Segments
14.1.8.4. Sales Footprint
14.1.8.5. Strategy Overview
14.1.8.5.1. Marketing Strategy
14.1.8.5.2. Product Strategy
14.1.8.5.3. Channel Strategy
14.1.9. Lucid Colloids Ltd.
14.1.9.1. Overview
14.1.9.2. Product Portfolio
14.1.9.3. Profitability by Market Segments
14.1.9.4. Sales Footprint
14.1.9.5. Strategy Overview
14.1.9.5.1. Marketing Strategy
14.1.9.5.2. Product Strategy
14.1.9.5.3. Channel Strategy
14.1.10. DowDupont
14.1.10.1. Overview
14.1.10.2. Product Portfolio
14.1.10.3. Profitability by Market Segments
14.1.10.4. Sales Footprint
14.1.10.5. Strategy Overview
14.1.10.5.1. Marketing Strategy
14.1.10.5.2. Product Strategy
14.1.10.5.3. Channel Strategy
14.1.11. Silvateam S.p.A.
14.1.11.1. Overview
14.1.11.2. Product Portfolio
14.1.11.3. Profitability by Market Segments
14.1.11.4. Sales Footprint
14.1.11.5. Strategy Overview
14.1.11.5.1. Marketing Strategy
14.1.11.5.2. Product Strategy
14.1.11.5.3. Channel Strategy
14.1.12. Jinfeng
14.1.12.1. Overview
14.1.12.2. Product Portfolio
14.1.12.3. Profitability by Market Segments
14.1.12.4. Sales Footprint
14.1.12.5. Strategy Overview
14.1.12.5.1. Marketing Strategy
14.1.12.5.2. Product Strategy
14.1.12.5.3. Channel Strategy
15. Assumptions & Acronyms Used16. Research Methodology
