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Market Overview:Pectin is a starch called heteropolysaccharide, that occurs naturally in the cell walls of fruits and vegetables. It acts like a gelling agent, thickening agent and stabilizer when heated with other ingredients. As per the detailed report that has been recently published by Market Research Future (MRFR), the global fruit pectin market is anticipated to expand at a robust CAGR of 8.56% during the forecast period of 2018-2023 and is registered to reach the valuation of USD 1,580 Mn by the end of 2023 from USD 971.21 Mn in 2017.
Industry Updates:
On 24th August 2018, Cargill, an American agribusiness, has announced its plan to invest USD 150 Mn in constructing HM pectin production facility in Brazil.
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Key Players:
The prominent players profiled by MRFR in the report on the global fruit pectin market are CP Kelco U.S., Inc. (the U.S.), Cargill, Inc. (the U.S.), Yantai Andre Pectin Co. Ltd. (China), DowDuPont, Inc. (the U.S.), Obipektin AG (Switzerland), Ceamsa (Spanish Company of Algas Marinas SA) (Spain), Pacific Pectin, Inc. (the U.S.), Silvateam S.p.A (Italy), Herbstreith & Fox (Germany), and Krishna Pectins Pvt Ltd (India).
Market Drivers and Restraints:
Fruit pectin has become a prominent ingredient in jellies, jams, processed dessert fillings, drinks and others. Unlike gelatin, pectin is obtained from fruits. Hence, increasing demand for vegetarian food and inclination towards following vegan diet are inducing high demand for fruit pectin in the global market, resulting in the expansion of the global fruit pectin market.
Rapid development of food and beverage industry is majorly driving the global fruit pectin market towards higher verticals. Increasing application of pectin in various industrial sectors such as pharmaceuticals, cosmetic and others are fueling the growth of the global fruit pectin market. Changing lifestyle and consumer preference for convenience foods are projected to be fueling the expansion of the global fruit pectin market.
However, availability of substitute products and scarcity in the supply of raw materials required to obtain fruit pectin are likely to create hindrance in the growth of the global fruit pectin market during the forecast period.
Market Segmentation:
The global fruit pectin market has been segmented on the basis of form, application and function. Based on form, the fruit pectin market is segmented into dry pectin and liquid pectin. The dry pectin segment in dominating the global fruit pectin market
Based on application, the fruit pectin market is segmented into food and beverages, personal care and cosmetics, pharmaceuticals and others. Among these, the food and beverages segment accounts for the largest share in the global fruit pectin market. Based on function, the fruit pectin market is segmented into thickener, stabilizer, gelling agents and others.
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Regional Analysis:
Geographically, the global fruit pectin market is segmented into four major regions such as North America, Europe, Asia Pacific and the rest of the world. The Europe region is projecting dominance over the global fruit pectin market owing to the increasing consumption of fruit pectin as thickener, stabilizer and gelling agent in wide range of food and beverages in this region. The Asia Pacific region is growing at the fastest rate in the global fruit pectin market owing to the high affinity for confectioneries and high availability of raw material in the countries like India, China and Japan and also southeast Asia.
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Organization: market research future
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Website: https://www.marketresearchfuture.com/reports/fruit-pectin-market-4993
Release ID: 412542
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