DUBAI, United Arab Emirates, Jan. 27, 2022 (GLOBE NEWSWIRE) -- The pectin market study done by FMI offers deep insights to the reader about the market’s today and forecasted growth. According to FMI, the pectin market is projected to grow with a CAGR of ~7.8% during 2022-2032.
Attribute
Details
Market Size Value in 2022
USD 998.7 Million
Market Forecast Value in 2032
USD 1.6 Billion
Global Growth Rate
7.8%
Forecast Period
2022-2032
According to a new study by FMI, the pectin market value is estimated at ~US$ 998.7 Mn in 2022. The growth in demand for pectin among consumers is primarily driven by its fat- & cholesterol-free nature and its application as a fat substitute in the bakery industry. The bakery industry is one of the industries that cover a wide variety of food products and attract consumers from all age groups. In recent years, growing health concerns among consumers has compelled bakery industry operators to offer fat-free products, thereby potentially raising the demand for pectin.
Moreover, the vegan nature of pectin is likely to work to advantage of the bakery industry amid the rise of vegan culture across the globe and notable increase in number of population preferring vegetarian diet.
“Pectin, a plant-based product, has been garnering significant traction as a viable ingredient in the F&B industry, owing to its natural and vegan nature. In addition to special property of binding with the intestinal wall and protecting it from opportunistic microbial invasion during stress, pectin offers a number of health benefits. Moreover, it is one of the most easily available and cost-efficient products, making it ideal for multiple applications in food, beverages, and nutraceutical industries.”
The pectin market is mainly segmented on the basis of product, application and region:
Based on product, the pectin market is segmented as high methoxyl pectin, and low methoxyl pectin. Low methoxyl pectin remains the most preferred product, as it requires low sugar to form gels, unlike high methoxyl pectin that requires high sugar levels. Although high methoxyl pectin holds relatively low share in the market, it is expected to increase by 3-4% over the forecast period.
Noteworthy application of pectin includes various products such as jams & jellies, beverages, bakery filling & toppings, dairy products & frozen desserts, confectioneries, meat & poultry products, dietary supplements, functional foods, pharmaceuticals, personal care & cosmetics, and others. Among these, owing to wide applications in the bakery industry, consumption for bakery & toppings as well as jams & jellies is likely to account for relatively high sales.
Pectin as a Solution to Various Complex Health Problems
Pectin is a solution to various health issues that were previously unable to cure. For example, niacin is an organic chemical taken by various consumers to supplement their diet with vitamin B3 and various important nutrients. But, it is also known to cause skin flushing in the face and upper body parts, which previously was treated as an allergy.
However, after deep research, it turns out that pectin helps in curing skin flushing caused by niacin, and skin flushing is not an allergy but a side effect of consuming more niacin. Similarly, pectin is known to treat ulcerated mouth and throat by simply applying it in the affected areas. Moreover, the replacement of chemicals with plant-based products in pharmaceuticals will continue to favor the growth of the pectin market.
Scope of Report
Attribute
Details
Market Size Value in 2022
USD 998.7 Million
Market Forecast Value in 2032
USD 1.6 Billion
Global Growth Rate
7.8%
Forecast Period
2022-2032
Market Analysis
USD Thousand for Value
Key regions covered
North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa
Key Countries Covered
China, U.S., India, Brazil, South Africa, Mexico, Argentina, Germany, France, Spain, U.K., BENELUX, Thailand, Indonesia, Malaysia, China, Japan, South Korea, Australia, New Zealand, GCC, Northern Africa & Southern Africa
Environment-friendly Attributes Accounting for Greater Gains
With global warming and its disastrous consequences being constantly in the news, and plastics and other non-biodegradable products being banned by governments, humans are on the lookout for sustainable alternatives. Using pectin to make paper and plastic substitute is the most important and major step that manufacturers have taken towards protecting the earth.
Pectin, owing to its gelling property, can make proper paper plates and its plant-derived nature makes it safe for the environment as well. Innovations using pectin can also be seen in its usage to make foams and plasticizers. As pectin is considered safe, it is most commonly used to make edible films so that there is no need to remove the covering and food can be consumed directly.
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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.
