At over 5.5% CAGR, Citrus Based Dietary Fibers Market is set to cross USD 1500 million by 2024
Jun 6, 2019
Europe citrus based dietary fibers market is projected to witness 6% CAGR by 2024 favoring by rising demand for packaged & ready-to-eat foods along with increasing health consciousness.
Selbyville, United States - June 6, 2019 /MarketersMedia/ —
North America citrus based dietary fibers market accounted over USD 300 million in 2017. Potential processed food products market including acidified milk drinks, fruit beverages, yogurts and confectionery provides lucrative opportunities for the product demand. Surging prevalence of obesity and cardiovascular diseases coupled with soaring diabetes among youth & adults will augment the regional demand.
Asia Pacific citrus based dietary fibers market will witness CAGR over 5.5% from 2018 to 2024. Surging consumer spending in the premium health products coupled with the rising demand for numerous nutraceutical variants will proliferate the regional industry growth. Lemons are the dominating sources for the citrus based dietary fibers production. Abundant lemon production mainly in India & China supports the industry demand.
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Food grade applications accounted for a dominating share in the global citrus based dietary fibers market. Water retention, improved meat quality & texture are among the key factors for increasing usage in meat, fish & savoury application. Favorable government policies towards improving the nutrition content of food including dairy, meat, fruit beverages, confectionery, and fruit preserves will create substantial growth.
Citrus based dietary fibers market as gelling agents is anticipated to register over 30 kilo tons by 2024. Increasing product usage particularly in confectionery and fruit preserves such as jams and marmalades owing to its gelling property is escalating the business expansion. Rising consumer awareness regarding nutritional content of the product in developing countries including Brazil, Mexico and China will strongly support the industry demand.
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Citrus based dietary fibers market from bakery application is anticipated to grow at over 5% during the forecasted timeframe. Increasing product adoption in refrigerated bakery products owing to enhanced shelf life and improved quality will supplement the business growth. Expanding usage as fat replacers in cookies, cakes & pastries during manufacturing process will fuel the industry development. High water binding capacity is one of the key properties augmenting the product demand from this segment.
Pectin market accounted for over USD 850 million in 2017. Rising demand in food applications owing to functional properties including gelling and thickening will create significant opportunities for manufacturers. Increasing usage as a gelling agent in jams and marmalades is further expected to boost the citrus based dietary fibers industry expansion. Potential outlook as a drug carrier for controlled release and to reduce cholesterol levels in the blood will augment the product demand.
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Lemons as a source accounted for over 50% of the industry share in 2017, and it is a major source of pectin. Easy raw material availability, cost effectiveness, along with large health benefits such as lowered cholesterol levels and improved gut health are the key factors driving the citrus based dietary fibers market expansion through the source.
Global citrus based dietary fibers market share is moderately fragmented owing to the presence of large number of global manufacturers and regional players. The key industry players include Herbstreith & Fox, Fiberstar, Ceamsa, Cargill, Danisco, DuPont, Yantai Andre Pectin, and CP Kelco. Product innovation to improve the application scope is among the key strategies adopted by manufacturers. For instance, Fiberstar launched Citri-Fi 125 in 2017 for tomato-based foods including sauces, condiments, and spreads to replace gums.
Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/citrus-based-dietary-fibers-market
Source: MarketersMedia
Release ID: 521132
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