Pectin Market Overview
The Pectin Market is size is forecasted to reach US$1.1 billion by 2027, after growing at a CAGR of 4.5% during 2022-2027. Pectin is a structural acidic heteropolysaccharide that is extracted from the cell walls of fruits and vegetables. It has a high concentration of galacturonic acid which is a sugar acid obtained from galactose. When Pectin is heated, along with a liquid, it expands and forms a thick gel. This makes Pectin an excellent thickener and gelling agent that is used in a variety of industries like the food & beverages, Pharmaceutical and Personal Care & Cosmetics. Pectin is also very safe and harmless to human bodies and has been approved by the World Health Organisation (WHO). The report describes various segmentations, the drivers & challenges, and the market landscape of the Pectin.
The adverse effects of the COVID-19 pandemic can mostly be felt in the supply chains of the market that was heavily disrupted due to the various lockdowns implemented throughout the world. The demand for food & beverages industry was in great turmoil due to the imposing lockdowns. For example, many milk and dairy processing units were asked to shut down or operate at a reduced cost during the Pandemic. However, the situation is completely reversed for the pharmaceutical industry. During the Covid-19 pandemic, there was a huge increase in the demand for pharmaceuticals. As such, the pharmaceutical market saw a growth in various regions. Both of these factors, and more, effected the sales and demand of Pectin during the COVID-19 Pandemic. However, as the situation is slowly resolving, the market is witnessing is a trend of steady growth.
Pectin Market Segmentation Analysis – By Source
Fruits hold the highest share in the Pectin Market by 56% in 2021. Amongst fruits, the most commonly used sources are apple and dried citrus peel which is used to obtain Pectin in white and light brown powder commercially. Citrus fruits abundantly provide essential building components like ascorbic acid (vitamin C), citric acid, folic acid, and potassium. Because of these reasons, citrus fruit-based and apple-based Pectin are preferred in the Pharmaceutical Industry and Personal Care and Cosmetics Industry, of course, along with the Food & Beverage Industry. Other fruits that are also used as raw materials for extracting Pectin are apricots, cherries, and oranges. Vegetables are also a good source of Pectin, namely sugar beets and carrots.
Pectin Market Segmentation Analysis – By Type
High Methoxyl/Methyl Ester (HM) Pectin holds the largest share in the Pectin Market by 54% in 2021. HM Pectins have a high gel strength due to the high degree of methylation (50%-70%). HM Pectins are widely used in thickening applications as they form strong bonds with the compounds and gives excellent form and shape. Low Methoxyl/Methyl Ester (LM) Pectins are lower in degree of methylation (less than 50%). LM Pectins gels can be repeatedly remelted and reformed. This makes LM Pectins suitable for uses in industrial bakery jellies.
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Pectin Market Segmentation Analysis – By Function
Thickening holds the highest share of 30% of the Pectin Market in 2021. Pectins are able to form cross-linked polymer networks due to its chemical and physical properties. This is typically used in food like soups and sauces to make them thicker without the use of starch. Other functions off pectins include gelling, which is primarily used in the production of jams and jellies, acid stabilizing, which is used to mix dairy-based products with citrus products like sauces and juices without curdling, and pH balancing, which is used to monitor acidic or basic food products.
Pectin Market Segmentation Analysis – By End-Use Industry
Food & Beverage Industry holds the largest share in the Pectin Market by 38% in 2021. Pectin is used in a variety of food products like jams, jellies, desserts, dairy products, bakery, sauces, soups and more. According to Farm Credit Canada (FCC), the Food & Beverage Industry’s manufacturing sales increased by 3.5% year-over-year (YoY) in 2020 from $118.7 billion to $122.9 billion. There can also be a correlation that there was an increase in the demand for Pectin as Pectin is one of the safest additives to use in food and is highly desirable by food manufacturers for a variety of needs. Pectin is used as a preservative, thickener for soups and sauces, acid stabilizer and gelling for jams and jellies. Other than the Food & Beverage Industry, Pectin is also used extensively in Pharmaceuticals and Personal Care & Cosmetics. It is used in creating textures from gels to structured fluids. The raw material of pectin also helps to provide additional properties like vitamin C, potassium and folic acid which are essential in both pharmaceutics and personal care.
Pectin Market Segmentation Analysis – By Geography
The Asia-Pacific (APAC) Region holds the highest share in the Pectin Market by 41% in 2021. The key reason behind this is the growing demand of the Food & Beverage industry in APAC. Fast food and Convenience Food are the growing trends in this region. According to the National Centre of Biotechnology Information (NCBI), the fast-food industry is growing by 40% every year and 2.1% of expenditure in annual total spending is on fast food[NK6] . Again, according to the China Chain Store & Franchise Association, the Food & Beverage sector reached approximately USD $595 Billion in 2019, which is a 7.8% increase from 2018. This trend is similarly observed throughout APAC with China and India leading the demand. These factors are the primary reason for the increase in demand for Pectin and is a driving force for the Pectin Market.
Pectin Market Drivers
A Safe & Harmless Food Additive & Preservative:
Pectin is derived from the cells of plants, usually from the peels of fruits and vegetables. The end-product is a natural, safe, and harmless additive and preservative that can be used in a variety of food substances and drugs without the fear of any side-effects or health issues. According to the European Food Safety Authority (EFSA), Pectin and Amidated Pectin are both authorized in the European Union (EU) as they fit all the necessary criteria for being a safe and harmless food additive. The Food & Drug Administration (FDA) of United States also declares Pectin to have meet all the specifications of the Food Chemical Codex, 3d Ed. (1981).
The increase in demand for Convenience Food and Dairy Products in APAC and Europe:
Countries in the Asia-Pacific region and Europe have witnessed a trend of increase in Convenience Food and Dairy Products. According to the International Journal of Business, Management & Economics, the Convenience Food market of India is estimated to grow at a CAGR of 17-19% by the end of 2025 valued at USD $655 million. The Food & Agriculture Organization of United Nations states that APAC had the highest milk production output at 379 million tonnes in 2020. This was primarily contributed by India and China. As Pectin is one of the primary additive and preservative in Dairy Products, especially to maintain a low-sugar and low-pH balance, the demand for Pectin has also seen a drastic increase in these regions. Similarly, Pectin is also used for increasing shelf life, reducing cooking time and improves texture & colour which makes it incredibly useful for convenience and fast food. These factors act as a driving force for the Pectin Market.
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Pectin Market Challenges
The Complex Process of Manufacture and Volatile Prices of Raw Materials:
The process of deriving pectin from its raw materials is complex and the yield isn’t always good. Due to this many companies invest in R&D to develop better technology to extract Pectin. Another issue is the removal of chemicals they use in the extraction of pectin. Some of these chemicals can be harmful so companies are developing better technology in the hopes of completely removing these chemicals during the manufacturing process. On top of that, the prices of the raw material are very volatile. For example, the average Retail price of apples in Delhi, India, during the month of January 2020, the price was INR Rs. 11,260/metric tonne (US$157.95/metric tonne), whereas in July the price had hiked to INR Rs. 20,000/metric tonne (US$266.94 metric/tonne) according to National Horticulture Board, Government of India. Apple peels are one of the primary raw materials in Pectin production and such fluctuations often hinder the Pectin Market.
Pectin Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Pectin Market. The key companies in the Pectin Market include:
1. Cargill Incorporated
2. Ingredion Incorporated
3. CP Kelco
4. Tate & Lyle LLC
5. Koninklijke DSM N.V.
7. Lucid Colloids Ltd.
9. Silvateam S.p.A.
10. Compañía Española de Algas Marinas S.A (CEAMSA)
In March 2019, CP Kelco had announced plans to expand their Pectin production facility by 10% in Limeira, Brazil. This will enhance their supply chain and help the company distribute Pectin in Latin America.
In December 2020, CP Kelco launched a new Pectin to help simplify fruit drinking Yogurt production marketed as the GENU YM-FP-2100. It is a clean-label ingredient that provides a degree of viscosity and works as a stabilizer in fruit drinking Yogurt.
The Asia-Pacific (APAC) region holds the largest share in the Pectin Market. This is largely due to the Food and Beverages Industry in the region.
Pectin is considered one of the safest and harmless food additives. It is extracted directly from the peels of fruits and vegetables.
Due to the increase in demand for Convenience Food and Fast Food as well as Dairy & Dairy-alternative products in regions like Europe and Asia-Pacific, the demand for Pectin has also observed a rise.
Pectin can be used in a variety of functions such as gelling, thickening, pH balancing and more. The versatility of Pectin is one of the reasons it is one of the most preferred food additives in the market.
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