Pectin Market – Global Industry Analysis, Forecast, 2013 – 2019
Pectin is a structural heteropolysaccharide which is usually found in the primary cell wall of terrestrial plants. It is commercially manufactured as a brown powder, majorly extracted from citrus fruits. Pectin is primarily used as a gelling agent in food products such as jellies and jams. It is also consumed in sweets, medicines and fillings, as well as a stabilizer in milk drink and fruit juices, and as a primary source of dietary fiber. Pectin belongs to the group of food hydrocolloids which form viscous gels or liquids when dispersed in water. Pectin has a wide range of application scope in the food industry such as beverages, meat & poultry products, bakery, confectionary, sausage and dressings, and dairy products among others.
The global market for pectin has been witnessing significant growth on account of rising demand for food products from developed as well as developing economies. The industry has been mature in developed regions such Europe, followed by North America. However, the industry for pectin is anticipated to grow rapidly in emerging economies such as China and India owing to change in lifestyle of the individuals as well as changing consumer preferences for convenience foods. Moreover, economic development in China has resulted in increasing purchase power of consumers, leading to increasing demand for high-quality processed foods.
Although the industry for pectin is rapidly growing driven by rising demand for processed and convenience foods, growing preference towards functional foods from various health conscious consumers have also played a key role in the growth of the market. In addition, the industry has been witnessing demand for low-calorie and low-fat food products from consumers resulting in more demand for pectin from food manufacturers. Based on these factors, pectin is considered as an essential food additive due to which the market is liable to increase significantly.
Dairy & frozen product accounted for largest application segment in the overall pectin market owing to their wide consumption as stabilizers in ice-creams, yogurts etc. Leading large-scale companies such as Yantai Andre Pectin Co. Ltd. are implementing various strategies such as new product launches and expansions in order to increase their productivity and widen their global reach.
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Growing health awareness among consumers for functional foods is expected to be one of the major factors driving the demand for pectin over the forecast period. Moreover, multi-functionality of pectin in various dairy and functional foods is expected to broaden their application scope in the food industry, further leading to the growth of the market. However, unavailability of raw materials to pectin as well as fluctuations in the prices of these raw materials is expected to hamper the growth of the market. Cost of raw materials for manufacturing pectin, which includes citrus peel and apple pomace have increased due to risen processing costs and prices of citrus fruits. Pricing and supply of these fruits are significantly affected by the weather conditions with a citrus disease known as “greening” affecting the industry performance. Focus in research and development (R&D) activities leading to product innovation is expected to provide new opportunities for the growth of the market. In addition, emerging regions such as Asia Pacific hold immense potential for the overall hydrocolloid market on account of rising consumption of convenience foods.
B&V srl, Cargill Inc., Ceamsa, CP Kelko, Danisco A/S, and Yantai Andre Pectin Co. Ltd. are some of the leading manufacturers of pectin present in the industry.