Clean label pectin market to bounce back after pandemic
New research has found nearly 80% of the clean label pectin demand has been concentrated in the food and beverage sector.
Consumers have been increasingly focused on cleaner and simpler ingredient lists. Even as the demand for packaged food is rising, food-makers are replacing synthetic additives with natural ingredients.
In recent years, pectin has been a solution to this issue. The starch, which occurs naturally giving structure to fruits and vegetables, has become a commercially essential ingredient for preserves and jams.
The ingredient, which claims many health benefits, can be used as a substitute for a range of preservatives and artificial ingredients.
This is why ESOMAR-certified market research and consulting firm Future Market Insights (FMI) forecasts the clean label pectin market will exhibit nearly 6% CAGR in 2021.
While growth stagnated last year due to the pandemic, FMI predicts that the market will set on a recovery path as economies stabilise.
Food and beverages represent the leading share among application segments accounting for 78.8% of the market last year.
Europe will remain a highly lucrative market for clean label pectin, holding the dominant share of 38.6% in 2020, the study found.
An FMI analyst said orange has emerged as the most preferred source for extracting clean label pectin, accounting for 59.8% of the market in terms of value.
Companies producing citrus pectin are focusing on capacity and portfolio expansion to gain competitive advantage. Besides this, ample investment in research and development is leading to frequent product launches, enabling steady growth of the market, the analyst said.
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