Pectin Market Segmentation, Latest Developments, Business Growth Statistics, Size with Regional Analysis 2031

Kenneth Research recently added a report on Pectin Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that, Europe is the second largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years. In the year 2018, out of the top 10 chemical producing countries in the world, two countries belonged to Europe that generated a sales revenue of 19.1% of the total sales revenue globally. Moreover, the sales of chemicals in Europe grew from 2017 by 2.8% in 2018.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Pectin Market products.

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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.

The Pectin Market is predicted to grow with a robust CAGR during the forecast period. Some of the significant factors that are anticipated to drive the market are the growing investments from the multinational companies in several nations worldwide to develop production facilities that can promote the production growth, backed by the rising need for chemicals from several end-user industries for different end-use purposes. According to the statistical report titled “Global Chemicals Outlook II”, published by the United Nations Environment Programme, the global chemical industry’s production capacity almost doubled to reach 2.3 billion tonnes in the year 2017 from 1.2 billion tonnes in the year 2000. Moreover, increasing spending on research and innovation (R&I) for the development of advanced chemicals is also anticipated to drive the growth of the market over the forecast period.

Pectin is a heterogeneous structure of polysaccharides in the fruits and vegetables. The pectin is produced from the waste of apple and citrus peel. The pectin is used as a thickener, stabilizer and an emulsifier. Pectin is also used as gelling agent in food products such as jam and jellies. It is also used in sweets, dairy products, bakery items and others. It is a natural source of protein for human diet and also provide various nutrients and proteins. Pectin is used as dietary fiber and has various health benefits associated with it. Additionally, pectin is widely used in pharmaceuticals and cosmetics industry.

Market Size and Forecast

The global pectin market is observing vibrant growth on account of increasing demand from confectionary and dairy products, thereby driving the demand for pectin. Additionally, rising food industry coupled with the increasing research and development in the industry is projected to drive pectin market across the globe.

The market segmented into function type and application. The pectin market is highly driven by the thickener segment on the account of high application of pectin in food and beverage industries during the forecast period. The application segment is anticipated to be dominated by the dairy products on the back of high usage of pectin in various food items such as yogurt, desserts, smoothies and others during the forecast period.

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As per Organisation for Economic Co-operation and Development, the global consumption of dairy products increased from 411,173 tonnes in 2015 to tonnes in 2016, 414,687 tonnes in 2017, 426,228 tonnes in 2018 and 435,805 tonnes in 2019. The rise in dairy product consumption is expected to drive

the demand for pectin market by the application in numerous dairy products. Pectin market is anticipated to record a CAGR of 8.1% over the forecast period.

Leading Companies of Global Market

DuPont, B&V srl, Ceamsa, Yantai Andre Pectin Co. Ltd., CP Kelco, Naturex, Silvateam, Tate & Lyle, Herbstreith & Fox and other key players.

Growth Drivers

Rising consumption of dairy product coupled with rising disposable income is expected to boost the pectin market in the developing regions. Additionally, increasing derivatives of dairy products coupled with the rising trend for consuming healthy food is driving the pectin market during the forecast period. Moreover, the rising health awareness has shifted the focus towards consuming dairy products on regular basis. This is expected to drive the pectin market during the forecast period.

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The rising application of emulsifying agent in the cosmetics industry is expected to drive the pectin market during the forecast period. Additionally, it is used as a stabilizer in the cosmetics which is anticipated to propel the demand for pectin during the forecast period. The high demand for cosmetics among the working women population is driving the market growth of pectin in the forthcoming years.

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