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Pectin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Pectin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • June 2021
  • 126 pages
  • ID: 6101199
  • Format: PDF
  • Mordor Intelligence LLP
Up to $750 off Until Sep 20th 2021

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The global pectin market was valued at USD 887.67 million in 2020 and projected to register a CAGR of 7.27% during the period, 2021-2026.

In India, the export of fruits has fallen by about 70% since the lockdown began in late March 2020, largely because of high air freight charges. The Indian fruit and vegetable exporters, export their products via flight to ensure the quality and freshness of their products. But with airlines increasing their freight charges by as much as 166% to INR 250/kg, the trade of fruits and vegetables is expected to have a negative impact on the domestic market. The export restrictions have a direct impact on prices of the agricultural commodities including fruits and vegetables, which will automictically have a negative price effect on its processed products such as pectin.

Diverse applications of pectin in industries, such as pharmaceutical, cosmetic, and food and beverage, have contributed in the growth of the market studied. Traditionally, pectin has been used as a jellying agent in jams and jellies. Jams, jellies, and marmalade are the major application areas of pectin. However, with the advancement in technologies, players in the market studied have been developing pectin suitable for various applications. For instance, GENU® Pectin, by CP Kelco has been gaining ground in the personal care and beauty market as a nature-based skin feel aid, stabilizer and pH balancing ingredient.

The increased usage of pectin in fruit juices for improved mouthfeel, in acidified dairy applications for protein stabilization, low-calorie jams, and acidified protein drinks, has been supporting the growth of the market for the last few years. The increasing awareness about the multifunctionality of pectin among food and beverage manufacturers, such as it reduces cooking time, improves texture and color, and increases the shelf life, are among the factors that have been fueling the market of pectin.

Key Market Trends
Growing Demand for Natural and Clean Label Ingredients

Pectin is one of the commonly used food gums. Typically derived from apple and citrus peels, it is also considered among the most label-friendly and versatile gums. Consequently, it is preferred for use in many clean-label formulations, especially in dairy-alternative beverages, including the low-sugar and low-pH variants. Suitable low-pH formulations include jellies, jams, fruit syrups, yogurts, yogurt drinks, and dairy-alternative yogurts. Other applications include more indulgent confectionery chews, gummies, and glazes. Leading citrus pectin players have been focusing on backward integration for business development and expansion of their existing production capabilities and are developing clean label products and the requisite certifications. For instance, France-based Algaia and German-based Herbstreith & Fox entered a partnership to boost the development of clean label pectin and alginates for multiple baking applications. These products can be marketed as either single or blended ingredients while tapping into the mounting clean label trend.

Europe Holds the Major Share in Pectin Market

Europe holds the largest market share in pectin market, followed by North America. The demand in the region is high owing to the presence and growth of end-use application for the product. Brazil is one of the largest producers of pectin, followed by Denmark and Mexico. Argentina is also a key country for growth of citrus fruits. However, there are no major production capability in the nation owing to unfavorable weather patterns and decreasing demand for lime juice. This has resulted in reducing plantation of lime trees. Asia Pacific is a potential market owing to the presences of emerging countries such as Chain and India. Changing lifestyle and food preference in these countries is expected to boost the market in the region.

Competitive Landscape
The global pectin market is consolidated, with international players dominating the market studied such as Dupont Incorporated, Cargill Incorporated, Herbstreith Fox Corporate Group, and Royal DSM among others. The prominent players of the market have been focusing on developing new and innovative products by targeting the new formulations that are specific to an application. Additionally, these companies are focusing on increasing the production capacities of their existing plants while investing in R&D activities. Thus, the market studied is expected to witness numerous product launches during the forecast period.

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