People
in the world will continue gulping down millions of tonnes of viscous
foods such as jams, marmalades, and puree. Since a commercial-scale
production of such food items requires the inclusion of thickening or
gelling agents, a majority of food & beverage makers in the world
are advancing their consumption of pectin. 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. 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. 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.
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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.
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