LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global pectin market size is projected to grow to USD 1,286.2 million by 2021, at a CAGR of nearly 8% over the forecast period.
This research report titled ‘Global Pectin Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Pectin is a complex polysaccharide found naturally in citrus fruits and apples. It is widely used as a gelling agent, stabilizer, and thickener in a wide range of food and beverages. These wide range of functional properties of pectin are resulting in its increasing adoption by the food and beverage industry, thereby driving market growth.
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Based on application, the report categorizes the global pectin market into the following segments:
- Jams, fruit applications, and bakery products
- Dairy products
- Confectionery products
The top three revenue-generating application segments in the global pectin market are discussed below:
Jams, fruit applications, and bakery products
“Jams, fruit applications, and bakery products form the largest segment of the global pectin market, generating almost 45% of the overall revenue. Pectin imparts a smooth and glossy look to these products while decreasing syneresis and increasing spreadability,” says Manjunath Reddy, a lead analyst at Technavio for food research.
Pectin is also used in baking stable fruit preparations and filings where pectin provides a high melting temperature as well as good stability of shape to prevent deformation or any leakage of the fruit filling. Additionally, cake glazing with pectin prevents fruits from drying out and give cakes and biscuits a glossy surface. These properties imparted due to the addition of pectin is driving for its increased adoption from the market segment.
Dairy products constitute the fastest-growing segment of the global pectin market, growing at a CAGR of over 9% through the forecast period. Pectin is mainly used in this industry to protect proteins in acidified milk products against sedimentation and flocculation. The use of pectin in dairy products guarantees a stable product with desirable gustatory properties without loss of quality even over prolonged durations. The extensive use of fruit pectin preparations in dairy products provides good dosing, regular fruit distribution in the container, homogeneous mixing with the fermented milk product, and better shelf life of the end-product.
“Confectionery products which include pectin in their preparations display good solubility, accurate setting temperature, and setting time. Owing to these properties, pectin is utilized in a broad range of tender fillings, dessert toppings, and foamed confectionery products,” says Manjunath.
Pectin improves the inherent fruit flavor of confectioneries naturally while providing an elastic texture and a smooth and brilliant cut for these confectionery products. Since the global confectionery market will display a strong growth in the coming years, there will be a steady demand for pectin as well.
The top vendors highlighted by Technavio’s research analysts in this report are:
- CP Kelco
- Herbstreith & Fox
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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