PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1449609
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1449609
The Pectin Market size is valued at US$ 1.05 Bn in 2024 and is expected to reach US$ 1.61 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2023/2024: | US$ 1.05 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 - 2031 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 6.30% | 2030/2031 Value Projection: | US$ 1.61 Bn |
Pectin is a structural hetero polysaccharide found in the primary cell walls of terrestrial plants, and is commercially extracted from citrus fruits, and apple pomace. It is utilized in food and pharmaceutical industries as a gelling, thickening, and stabilizing agent. Pectin production requires the extraction and purification of pectin substances from citrus peels or apple pomace through various chemical and physical processes. Several countries globally produce pectin commercially, with citrus fruits being the main commercial source. The market is anticipated to witness steady growth owing to increasing applications in food and pharmaceutical sectors. Pectin is used in the food industry for its gelling and thickening qualities. The pectin market grew due to its widespread use in the manufacturing of jams and jellies. The conventional uses of pectin were surpassed in the early 2020s. It was incorporated into a number of food and drink goods, including dairy, candies, and baked goods. The pectin market adjusted to shifts in supply chain dynamics as the food industry grew more international.
The market is driven by increasing demand from food and pharmaceutical industries. Pectin finds wide application as a thickening and gelling agent in various food products like jams, jellies, fillings, dairy, and more. Additionally, pectin is utilized in pharmaceutical preparations for controlled release and drug delivery. However, high dependence on limited raw material sources like citrus peels poses a restraint. Fluctuating raw material prices further challenges market growth. On the positive side, development of non-animal sources and modification of pectin structure is opening new opportunities. Ongoing R&D on multifunctional and specialty pectin varieties will further support market expansion over the coming years.
Global Pectin Market -Detailed Segmentation: