Mar 02, 2021
Rise in Demand for Packaged and Convenience Food & Beverages Driving Demand for Citrus Fiber: Fact.MR
by Team Fact.MR
Increase in awareness regarding health has been compelling more people to opt for low-fat food and beverages in order to reduce and control obesity. Surge in demand for pharmaceutical-grade citrus fibers in diverse applications in the medical field is further propelling demand across regions.
As stated by the Food and Drug Administration (FDA), prohibited food ingredients such as phosphates, hydrocolloids, etc., must be completely replaced by citrus fiber ingredients in order to improve the quality of food. With requirement for natural and nutritional food products soaring, players in the citrus fiber industry are expected to witness decent growth over the coming years. Additionally, with meal-consumption behavior among consumers changing drastically, requirement for packaged and convenience food & beverages is spiraling upward. As a result, citrus fiber, being a crucial component of such food products, is expected to witness high demand from this sector.
According to Fact.MR, the global citrus fiber market is projected to ascend at close to 5% CAGR during the forecast period of 2021 to 2031.
Key Takeaways from Study
- In terms of source, citrus fiber from oranges to register highest demand
- Rise in requirement from food industry to bolster growth of citrus fiber manufacturers
- Application of citrus fiber in jam & jellies and bakery products to spur market growth
- Germany to maintain its lead in the world’s largest market for citrus fiber, Europe
- Asia Pacific to exhibit fastest growth throughout the forecast period
- The United States to exhibit hegemony in the world’s third-largest market, North America
- Japan, the United Kingdom, China, Canada, and a few other countries to maintain positive market outlooks through 2031
“Rise in requirement for natural sources of vitamin C is significantly aiding in the growth of stakeholders in the citrus fiber industry. Additionally, growing application of citrus fibers as a water binder & fat replacer in diverse end-use industries is further catering to market expansion,” says a Fact.MR analyst.
Increase in Requirement from Food & Beverage Sector for Citrus Fiber
Owing to its excellent gelling, thickening, water-binding, and stabilizing properties, citrus fiber is extensively used in manufacturing snacks & bakery products. Additionally, nutritional benefits and clean label delivered by citrus fiber are what make it highly preferred in food & beverages.
According to a report titled “Food and Drink Industry- Internal Market, Industry, Entrepreneurship and SMEs”, published by the European Commission (EC), in the last 10 years, European Union (EU) food and drink exports have doubled, reaching over EUR 90 billion, and contributing to a positive balance of almost EUR 30 billion.
As stated in a report published by the Select USA on 5th November 2019, the United States is Colombia’s top source for processed food products, with 2018 imports up 13.7% to US$ 650 million. No doubt that the expanding food & beverage industry has major contribution to steady expansion of the citrus fiber market.
Who is Winning in this Space?
The global citrus fiber market is highly competitive in nature. In order to secure their positions, key market players are focusing on launching more diverse range of products to target a larger base of end users.
- Fiberstar launched its new texturizing citrus fiber Citri-Fi® TX, which creates a meat-like texture and provides cold binding in meat alternatives, in 2020.
- DuPont Danisco launched its new GRINDSTED® Pectin, clean-label, and natural stabilizer from citrus fruits, which is consumer-friendly and tolerates wide parameters in processes and recipes, a couple of years back.
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the global citrus fiber market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of grade (food, pharmaceutical, and others), source (oranges, tangerines/mandarins, grapefruit, and lemons & limes), application (bakery, desserts and ice cream, sauces & seasonings, meat & egg replacement, beverages, flavouring & coatings, snacks & meals, personal care, pharmaceuticals, and other applications), and function (water binders & fat replacers, thickening gums, and gelling gums), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About the Food & Beverages Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Food & Beverages team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the Food & Beverages industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.
Sr. Consultant - Food & Beverages
E-mail: [email protected]