Pectin Market Demand for Amidated Low Methoxyl Pectin will Surge
Future Market Insights recently conducted an in-depth analysis on pectin – a raw ingredient used in manufacturing a wide variety of food products. According to this study, nearly 34,000 metric tonnes of pectin was globally consumed in 2016. The study further estimates that by the end of 2026, the global pectin consumption would have soared at 3.7% CAGR and reached 48,735 metric tonnes.
As mentioned earlier, food manufacturers will continue consuming higher amounts of gelling agents. However, procurement of pectin is becoming less feasible for food processing plants. Difficulties arising while obtaining pectin through plants, apples or citrus peels are further complicating the production of jams and marmalades.
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As extracting pectin is a complex process, food manufacturers are seeking to replace the gelling agent with alternative hydrocolloids. Additionally, high prices of pectin and growing dependency on exporting pectin is also deterring manufacturers from increasing their production capacity.
Factors as such are inhibiting the growth of global pectin market, constraining it to a below average CAGR. Currently valued at US$ 658.2 million, the global pectin market will expand moderately at 4.6% CAGR to bring in revenues worth just over one billion dollars by the end of 2026.
Demand for Amidated Low Methoxyl Pectin will Surge
Based on the global pectin consumption forecasted to be consumed in the years to come, the global demand for high methoxyl pectin will grow at par with the demand for low methoxyl pectin.
While the global pectin revenues will remain equally split among these two types of products, amidated low methoxyl pectin will be accounting for over 20% of global market value. In the due course of forecast period, global revenues amassed from sales of amidated low methoxyl pectin will have reached US$ 270 million in value. In the contrary, non-amidated low methoxyl pectin will be sold at a comparatively faster rate, exhibiting revenue growth at nearly 5% CAGR.
Production of Jams & Jellies Boosting Pectin Sales
With a significant rise in global consumption of jams and jellies, global demand for pectin will also witness sufficient increment. By 2026, the global revenues accounted by application of pectin in production of jams and jellies will have reached nearly US$ 200 million.
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Pectin revenues emanating from global sales of jams and jellies are anticipated to exhibit growth at 5.2% CAGR. Applications such as production of confectionery items, dairy products & frozen desserts, beverages, and bakery fillings & toppings will bring in revenues worth over US$ 100 million by the end of forecast period. On the other hand, the demand for pectin will be the lowest in global meat & poultry products industry.
In the report, titled “Pectin Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” North America and Western Europe are being identified as the dominant regions for sales of pectin products. For the time being, the Asia-Pacific excluding Japan region is being expected to incur revenue growth at a steady 5.1% CAGR.
The pectin market in Japan and the Middle East & Africa (MEA) will be expanding at the highest value CAGR of 6.1%, while Eastern Europe will exhibit sluggish growth during the forecast period. The report has profiled leading players in the global pectin market, which include, Cargill Incorporated, DuPont (Danisco), CP Kelco, Herbstreith & Fox, Yantai Andre Pectin Co., Ltd., Silvateam Food Ingredients, Naturex Group, CEAMSA, and Lucid Colloids Ltd.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
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