Pectin Powder Market SWOT Analysis, Business Growth Opportunities by Top Companies, Future Challenges, Competitive Strategies and Forecast to 2031
ESOMAR-certified consulting firm Future Market Insights’ report on global pectin powder market is likely to surpass a million dollar mark by 2021, expanding at an impressive CAGR, as per its new published report.
Growing demand of high methoxyl powder within food & beverage industry attributing to its texturizing and gelling property is likely to steer the market in the forward direction. The market posted significant gains in the past backed by the increased consumption of pectin powder in the production of jams & jellies.
Rising preference for organic and natural food have prompted the manufacturers to increase the usage of pectin powder. Given the pectin’s nutrient profile, pectin and its derivatives are highly used in the production of jams and jellies. Also, advantages such as providing longer shelf life, vitamin-C rich and ability to improve product consistency & texture are driving the demand of pectin powder.
Furthermore, strict regulatory policies on the use of prohibited food ingredients such as phosphates, & carrageenan are increasing the use of pectin powder as a safer substitute. Additionally, rising preference for low fat and processed food with less preservatives is improving the demand of pectin powder.
Hence, food producers are increasing the usage of pectin more in beverages & food products due to its organic & natural quality. On the back of these factors, the global pectin powder market is poised to expand at 4.7% CAGR over the forecast period of 2021 and 2031.
“Manufacturers are tilting towards the use of pectin powder in the production of non-alcoholic beverages and as a flavorless additive to improve the consistency of packaged food such as jams & jellies, a trend which is majorly influencing the pectin powder adoption,” says the FMI analyst
High methoxyl pectin powder is expected to hold over 55.5% market share through 2021
In terms of end-user, food & beverage industry is accounted for 76.8% of market share in terms of value through 2021
The U.S. is expected to hold the largest market share and is slated to increase at over 3.7% CAGR through 2031
India is poised to register excellent growth of 9.7% CAGR on the back of recent supply chain developments within food & beverage industry
Increased usage of pectin powder in Brazil as a key ingredient in jams & fruits spread is spurring the sales
Countries such as U.K., China, France and Germany are expected to witness high demand of pectin powder from food & beverage industry
Leading manufacturers are relying on new product launches that matches the consumer requirement and regulatory policies for vegan, preservatives-free and halal food. Reluctance for processed foods have compelled the key players to manufacture products with natural ingredients, spurring the manufacturing of pectin powder.
Key players are also adopting various organic & inorganic strategies such as targeted collaboration and divestiture of assets to improve the operational efficiency of the company. For example, Givaudan in September 2020 announced that it has divested its pectin business, a part of the Naturex portfolio, to Herbstreith & Fox Group, to strengthen the former company’s business.
Another leading player CP Kelco, in December 2020, launched GENU Pectin YM-FP-2100, a new pectin product to improve and add medium-to-high viscosity in the fruited drinking yogurt.
Some of the prominent pectin powder manufacturers profiled by FMI are:
Future Market Insights, in its latest study, provides an unbiased analysis of the pectin powder market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the pectin powder market with a detailed segmentation on the basis of:
High methoxyl pectin
Low methoxyl pectin
Food and beverage
Personal care and cosmetics
The Asia Pacific excluding Japan
Middle East and Africa
Key Questions Covered in the Report
How will the market for pectin powder will expand through 2031?
Which top companies are leading the global pectin powder market?
What are the key drivers and trends that will stimulate the pectin powder sales?
What are the challenges that will affect the sales of pectin powder market?
Which region will remain the most lucrative throughout the forecast period?
What is the impact of Covid-19 on pectin powder market?