BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expectsGCC Pectin Market size to grow at a steady CAGR of 8.6% during the forecast period between 2022 and 2028. Major factors for the expansion of GCC pectin market include an increasing demand for processed and convenience food and growing consumes’ food preferences. Pectin is a crucial component in the formulation of numerous medicines in the pharmaceutical sector, and the growing popularity of functional foods among health-conscious consumers is increasing pectin demand in the GCC countries. The growing preference for low-calorie and low-fat products is driving up demand for pectin from food makers. A spurring demand from the pharmaceutical and cosmeceutical sectors could further fuel the pectin market expansion in the coming years. Additionally, growing population, high disposable income, supply chain improvements, and rapid urbanization are expected to propel the expansion of GCC pectin market. The increasing use of packaged products to minimize cooking time, improve shelf life, and enhance texture and color, as well as the multi-functionality of pectin, which lead to the increasing demand for innovative applications coupled with increasing R&D investments create profitable prospects for market participants during the period in analysis. However, high research and development costs and ease of affordable alternatives are anticipated to limit the growth of GCC pectin market.
GCC Pectin Market – Overview
Pectin (C6H10O7) is a soluble fiber component present in cell walls of fruits and vegetables, such as apple, sugar beet, apricot, orange, and carrot. It is high in phytochemicals, potassium, folic acid, and other nutrients that aid digestion, decrease cholesterol, improve gut health, boost immunity, and prevent gastroesophageal reflux disease (GERD). Pectin is also used as a thickener, stabilizer, water binder, and other additives. As a result, it has a wide range of applications in a variety of industries, including food and beverages (F&B), pharmaceutical, and personal care.
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GCC Pectin Market – By Raw Materials
Based on raw materials, GCC pectin market is divided into Citrus Fruit, Apple, and Sugar Beet segments. The citrus fruit segment is expected to hold the highest market share during the period in analysis. Citrus fruits, notably lemons, oranges, and grapefruits, are the primary sources of natural pectin. Citrus pectin products are used to deliver innovative and varied flavor profiles in spices, sauces, and marinades. Additional applications include nutraceuticals, dietary supplements, pharmaceuticals, cosmetics, personal care goods, room deodorizers, and cleaning supplies. Citrus pectin is gaining popularity as an efficient addition in the GCC pectin industry. Modified citrus pectin (MCP) may be the best option for those wishing to supplement their citrus intake as a preventive health precaution. The apple segment is expected to be the second dominant one in the market, as it is utilized in food, beverages, cosmetics, personal care products, and pharmaceuticals. Several product innovations utilizing these natural, plant-based, and clean-label goods are expanding the usage of apple pectin in end-user industries.
Impact of COVID-19 on GCC Pectin Market
The COVID-19 pandemic had a detrimental effect on all industries around the world, affecting supply and demand. The pandemic halted import-export transactions and temporarily halted manufacture of many products, such as processed foods, cosmetics, and personal care products, resulting in a decline in demand for personal care products such as pectin. As a result, trade restrictions and labor constraints hampered the GCC pectin industry. The pandemic also had a substantial impact on consumer demand and food preferences. During the pandemic, consumers avoided purchasing non-essential items, reducing sales of pectin-based food products. COVID-19 pandemic halted the expansion of GCC pectin market. However, the situation has improved since the pandemic, and the pectin market has rebounded. Because of the numerous advantages of pectin products, the market is expected to expand rapidly.
Competitive Landscape
GCC pectin market is fiercely competitive with major players including Cargill, Incorporated, DuPont, Tate & Lyle, Ingredion Incorporated, Ashland, Naturex, LUCID COLLOIDS LTD., and DSM Andre Pectin. To further enhance their market share, these players are primarily focused on the development of innovative and efficient products, new product releases, market initiatives, mergers and acquisitions, and other collaborative activities.
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