Citrus Fiber Market Insights
The global citrus fiber market size is expected to exhibit increasing growth in the coming years, as a result of advancements in the food industry. Citrus fibers are being widely recognized as neutral-tasting food additives that can effectively extend the shelf-life of food products.
Under FDA laws, prohibited food ingredients such as hydrocolloids, phosphates, carrageenan, etc., can be competently replaced by citrus fiber ingredients. Manufacturers of food products are actively focusing on including citrus fiber ingredients in the production of new ranges of fat-free edibles to attract the world’s growing health-conscious consumer base.
Furthermore, increasing consumer awareness about food safety has been driving the consumption of essential ingredients such as citrus fibers, which are critical for regulating body metabolism and digestion. With the emergence of the clean label movement, the demand for natural and nutritional food products has soared, and has increased the inclusion of citrus fiber in several product ranges in the food & beverage industry.
The global citrus fiber market is expected to account for a revenue of US$ 790 Mn by the end of 2030, adding close to US$ 295 Mn to the current market value.
Citrus Fiber Market Analysis by Grade
Increasing consumer inclination towards maintaining a healthy lifestyle has led to the higher consumption of food and food ingredients with potential health benefits. Off late, consumers have become more conscious about their diet. This increase in demand for healthy food ingredients is expected to facilitate numerous growth opportunities for food grade citrus fiber over the forecast period (2020-2030).
Furthermore, increasing application in the medical field has led to mounting demand for pharmaceutical grade citrus fiber in the recent past. The market for pharmaceutical grade citrus fiber is poised to expand at a CAGR of 5% from 2020 to 2030.
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Citrus Fiber Market Analysis by Function
Increasing health awareness among global consumers is driving the demand for low-fat food and beverages to reduce and control obesity, thus resulting in consumers making healthier choices with regard to food and beverage products, without letting it affect flavor and taste. This factor will increase the demand for citrus fiber as a water binder and fat replacer, at a growth rate of nearly 5% during the forecast period.
Citrus Fiber Market Analysis by Application
Increasing demand for packaged and convenience food and beverages is driving the growth of the global market to a significant extent. Citrus fiber is used as an ingredient in various processed and convenience beverage products such as non-alcoholic drinks and ready-to-drink beverages. It is also used in bakery products, which will account for maximum citrus fiber market share by 2030.
Furthermore, various citrus fiber benefits lead to its usage in personal care and pharmaceutical products, which will account for one-fourth of the global citrus fiber market share. Its application as meat and egg replacers is poised to create an absolute $ opportunity of US$ 20 Mn by 2030.
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Citrus Fiber Market: Regional Outlook
From a regional perspective, Europe currently holds more than one-third of the global citrus fiber market share, with favorable climatic conditions and increasing demand for packed and convenient food as a result of increasing disposable income and fast-moving lifestyle.
North America and Europe are expected to be the most attractive regional markets, expanding at higher CAGRs as compared to other regions throughout the forecast period, due to the presence of high-tech services and citrus fiber extraction machineries. However, the market in the Asia Pacific region is expected to progress at an impressive CAGR of 6% over the forecast years.
Citrus Fiber Market Competitive Analysis: Key Players to Focus on Geographical Expansion and Product Innovation
Companies are focused on improving their regional presence and innovation strategies, which could help them in providing unique products to consumers. For instance, Fiberstar Inc. launched Citri-Fi 125, a naturally-extracted citrus fiber from the orange juicing process, applicable for improving tomato-based food products by replacing starch and gums in sauces, condiments, and spreads. CP Kelco announced plans to expand its production capacity of LMA pectin at its Lille Skensved, Denmark facility by 15%, by incorporating advanced technology to extract pectin from a new generation of raw material.
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COVID-19 Impact on Global Citrus Fiber Market
The COVID-19 outbreak has spread to most countries across the world, and has affected more than 10 million people as we speak. Businesses have reported record downturns in revenues in the first fiscal quarter of 2020. The citrus fiber market has also been impacted significantly due to latency in end-use industries amid restrictions on human mobilization.
The unprecedented impact of coronavirus on human health is burgeoning, as no cure or vaccine has been discovered till date. Therefore, to prevent infection, people are preferring to consume food products that contain vitamin C, as this helps boost the immune system. Citrus is a major source of vitamin C, and therefore, the demand for citrus-based products has increased dramatically around the world, creating substantial demand for citrus fiber as well.
The Analyst’s Viewpoint
With increasing demand for food products that contain vitamin C, citrus fiber market trends will continue to be favorable for strong growth, as an aftereffect of rising health awareness with respect to food consumption, globally.
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Global Citrus Fiber Market: Scope of the Report
Fact.MR published an exclusive forecast report on the citrus fiber market for the period of 2020-2030. The foremost objective of the citrus fiber market report is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the citrus fiber market. Also, the citrus fiber market study addresses key dynamics that are expected to diversify the adoption and future prominence of the citrus fiber market.
The report on the citrus fiber market begins with an executive overview, in which product definition has been provided. The report further proceeds with the taxonomy of the citrus fiber market, elaborating on the key segments. The report also outlines visionary insights on the dynamics of the citrus fiber market, including the drivers, restraints, opportunities, trends and pricing analysis, along with key buying factors.
Citrus Fiber Market: Segmentation
Fact.MR has studied the citrus fiber market with detailed segmentation on the basis of grade, source, application, function, and key regions.
- Tangerines/ Mandarins
- Lemons and Limes
- Desserts and Ice cream
- Sauces & Seasonings
- Meat & Egg Replacement
- Flavoring & Coatings
- Snacks & Meals
- Personal Care
- Other Applications
- Water Binders & Fat Replacers
- Thickening Gums
- Gelling Gums
- North America
- Latin America
Citrus Fiber Market – Report Scope
A recent study by Fact.MR on the citrus fiber market offers a 10-year forecast from 2020-2030. The study analyzes crucial trends that are currently determining the growth of the citrus fiber market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of citrus fiber. The study also provides dynamics that are expected to influence the future status of the citrus fiber market over the forecast period.
A detailed assessment of value chain analysis, business executions, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the citrus fiber market enhances the reliability of this comprehensive research study.
Citrus Fiber Market: Report Summary
The study offers a comprehensive analysis on diverse features, including demand, product developments, policy & regulatory landscape, revenue generation, and sales in the citrus fiber market across the globe.
A comprehensive estimate on the citrus fiber market has also been considered through an optimistic scenario as well as a conservative scenario regarding the sales of citrus fiber for the forecast period. Price point comparison by regions with global average price is also considered in the study.
Citrus Fiber Market: Analysis on Market Size Evaluation
The study provides each market segment in terms of value (US$ Mn) analysis in the citrus fiber market.
Market estimates at global and regional levels for citrus fiber are available in terms of 'US$ Mn' for value. A Y-o-Y growth contrast on prominent citrus fiber market segments, along with market attractiveness evaluation, has been incorporated in the report. Another key feature of the citrus fiber market report is the analysis of all key segments in terms of absolute dollar. Absolute dollar opportunity is critical in assessing the level of opportunity that a manufacturer can look to achieve as well as identify potential resources, from sales and delivery perspectives, in the citrus fiber market.
Citrus Fiber Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which help deliver projections on regional markets. This chapter includes regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the citrus fiber market during the forecast period.
Country-specific valuations on the demand for citrus fiber have been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of prominence in regions and countries. Regional market Y-o-Y growth estimates have also incorporated in the report.
Detail breakup in terms of value for emerging countries has also been included in the report.
Citrus Fiber Market: In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of the citrus fiber market, along with their detailed profiles. Essential and up-to-date data related to market players who are principally engaged in the production of citrus fiber has been presented with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit readers to take preemptive steps in advancing their businesses.
Company profiles have been combined in the report, which include essentials such as product portfolios, along with an all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all prominent players, thus, providing readers with actionable insights, which help in thoughtfully presenting the market status and predicting competition levels in the citrus fiber market.
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