The
rising awareness among consumers about the vast functional benefits
of dietary fibre due to their beneficial psychological effects is a
key factor driving the consumption of citrus fibre world over. The
consumption of citrus fibres among other various other dietary fibres
is gaining prominence as these contain several bioactive compounds. A
recently published report by Transparency Market Research has
revealed that the global
citrus fibre market
is projected to expand at a CAGR of 4.6% during the forecast period
of 2017 and 2022.
Factors
Catalyzing Growth of Worldwide Citrus Fibre Market
As
consumers become more aware of the health benefits of citrus fibres
in combating diseases, these find wide applications in the processed
food segment. The addition of citrus fibres, notably those that are
insoluble, to a variety of food items improves their technical and
functional properties markedly, while imparting a neutral and natural
taste and flavor. The growing willingness of consumers to pay a
higher price for citrus fibre added-food products is attributed to
various nutritional benefits these possess, such as reducing fat
content. In addition, since citrus fibres are derived from
non-allergen sources, they are likely to witness significant demand
among a wider population.
The
inclusion of citrus fibres in food grades is boosted by the stability
of these fibres across a range of pH and temperatures. In addition,
their addition improves the texture of final food products and with
less formulation cost. Such factors bode well for the citrus fibre
market.
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Applications
in Food Sector to Grow at Leading Rate
The
vast functional properties that citrus fibre can impart to a variety
of food products, including meat and bakery products, is a primary
factor accounting for the major share hold by the food grade citrus
fibre, among other grades. Among all grades, the food grade citrus
fibre segment is projected to rise at a CAGR of 4.6% from 2017 to
2022, and is anticipated to witness the leading growth of US$ 9.9 Mn
year-over-year over the forecast period. The food grade is predicted
to hold a significant share of 64.5% by 2017 end. The segment is
predicted to reach a valuation of US$ 246.3 Mn in 2022, accounting
for a market share of 64.4% in the same year.
Recent
advances in processing technology have led to the production of
citrus fibres that are easy to store and transport, keeping their
functional properties intact. This is a key factor likely to boost
the application of citrus fibres in several end-use industries. The
widespread demand for citrus fibres in these applications areas is
attributed to their amazing functional properties, notably water
binding or retaining capacity and versatility.
Geographically,
the Asia Pacific Excluding Japan (APEJ) market is anticipated to
expand at CAGR of 5.1% from 2017 to 2022 and will be worth US$ 99 Mn
by the end of 2022. A prominent regional market for citrus fibre is
Europe, which is predicted to account for a global share of 23.4% by
2017 end, in terms of revenue. The regional market is anticipated to
lose some of its global share, estimated at 56 BPS, by the end of
2022 from 2017.
Market
Players
Some
of the prominent players operating in the global citrus fibre market
include Ceamsa, fibrestar, Inc., Quadra Chemicals Ltd., Cargill,
Inc., and Florida Food Products.
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