Tier I manufacturers in the citrus pectin market account for around 60% revenue share and, albeit slowly, they are likely to envisage strong growth in the upcoming years. Wide geographical presence and a strong network of distributors enable citrus pectin market leaders to tap lucrative opportunities across various regions. Furthermore, market leaders are reaping benefits of their wide, powerful, end-use specific, and label-friendly product portfolios, which enables them to scale up their position in the citrus pectin market.
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Leading stakeholders in the Citrus Pectin Market are acquiring local businesses to get direct access to raw materials, such as citrus fruits, and deliver more economical citrus pectin products with improved profit margins. Top tier citrus pectin manufacturers are also adopting strategies to amplify investments to upgrade their existing citrus pectin production capacities, in order to further expand their global market coverage.
Developing ‘Label-friendly’ Citrus Pectin Products Remains a Major Focus for Market Players
As health-minded consumers are becoming more critical about ‘clean labels’ while purchasing food products, the demand for clean label citrus pectin is expected to proliferate rapidly in the upcoming years. Label-conscious consumers across the world are instigating the trend among citrus pectin manufacturers to strengthen their product portfolio of label-friendly ingredients and texturizers, such as citrus pectin.
E.I. du Pont de Nemours and Company, an American conglomerate and a leading citrus pectin manufacturer, recently disclosed its marketing strategy priorities to leverage the clean label trend in the citrus pectin market. The company is aiming to boost citrus pectin sales by promoting the benefits of using citrus pectin to eliminate the needs for adding more calcium salts in food products, which can reduce production costs for food manufacturers.
Another manufacturer of citrus pectin and hydrocolloids products – CP Kelco recently launched its new citrus pectin product, GENU® Explorer Pectin ND-200, which is a label-friendly food ingredient commonly used in dairy products and desserts. To be in line with clean label trend, the company has been directing most of its efforts on innovating its clean label citrus pectin offerings with the launch of the label-friendly citrus pectin.
Tumbling Citrus Production to Cause a Substantial Rise in Citrus Pectin Prices
The global citrus production declined from 131.7 million tons to 124.2 million tons during 2014-2016, according to the Food and Agriculture Organization of the United Nations (FAO). The unprecedented challenges in the citrus pectin production, such as tight supply and high costs of citrus fruits, are likely to lay immense pressure on the citrus pectin supply and production costs in the foreseeable future.
As orange is a key raw material used in the manufacturing of citrus pectin, a slump in its production may negatively impact growth of the citrus pectin market. According to a biannual report published by the United States Department of Agriculture (USDA), due to unfavorable weather, the global orange production is likely to be plummeted by 4 million tons within a year to reach around 48 million tons by 2018. Due to reduced harvest of citrus crops, the average orange price in the European Union has increased by 16% to reach 71€/100kg by June 2018 during the span of five years, according to a report published by the European Commission.
Thereby, the plunging supply of citrus peel and increased citrus prices is likely to result in an upsurge in the citrus pectin production costs, impacting the overall growth of the citrus pectin market in the coming years.
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Growing Awareness about the Effectiveness of Modified Citrus Pectin in Palliating Cancer Boosts Demand
Rapidly growing adoption of citrus pectin as an emulsifier and texturizer in the food & beverage industry is encouraging citrus pectin manufacturers to put efforts into modifying its chemical properties. According to recent studies conducted by and presented at renowned research institutes, modified citrus pectin can be effective in sensitizing prostate cancer cells in radiotherapy. A research presented at the American Society of Clinical Oncology (ASCO) Genitourinary Cancer Conference found that modified citrus pectin can slow or completely halt the growth of prostate cancer cells.
In order to bring out the unique medicinal properties of citrus pectin, leading manufacturers are incorporating advanced technologies to derive modified citrus pectin to tap lucrative opportunities in the healthcare sector. Recent discoveries and growing awareness about the effectiveness of modified citrus pectin in controlling growth of new cancer cells in patients is likely to escalate demand for citrus pectin in the upcoming years.
The citrus pectin market report features detailed profiles of key market players to present important aspects of competitive landscape of the citrus pectin market. Insightful information about stakeholders includes key financials, winning strategies, recent company developments, and product portfolio of companies, along with information about new technologies adopted and new product launched by citrus pectin manufacturers in the market.
Citrus pectin manufacturing companies and other stakeholders featured in the citrus pectin market report include Fiberstar, Ceamsa, Herbafood, Florida Food Products, Cargill Inc., Quadra Chemicals, Naturex, Compañía Española de Algas Marinas S.A. (CEAMSA), Herbstreith & Fox, Yantai Andre Pectin Co. Ltd., Lucid Colloids Ltd., DuPont, Silvateam S.p.A., and CP Kelco.
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Global Citrus Pectin Market Forecast Covering Growth Inclinations & Development Strategies until 202
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