Citrus Fiber Market Industry Research Overview’s by Segment by Application Forecast by 2020-2028.
Citrus Fiber Market Overview
Market Research Future (MRFR) expects the citrus fiber market to record a development rate of 3.17% between 2019 and 2028. The market valuation will be USD 431.8 million by the end of 2028.
Mounting concerns about the additives present in foods as well as meat has made clean labels almost a prerequisite for the citrus fibers market. In view of the toxic effects of synthetic additives on the human body, many processed food developers are infusing natural alternatives in their products, such as citrus fibers. Citrus fiber in processed meat acts as a natural alternative to ingredients like sodium tripolyphosphate, reducing its adverse impact on product integrity. Given the surge in this kind of replacement formula, the global citrus fiber market size should continue to expand at a rapid rate between 2019 and 2028.
The surge in disorders including cancer, allergies, diabetes, and cardiovascular disorders has prompted the population to increasingly opt for a healthy lifestyle. This involves using natural, organic, and healthy ingredients. Given the rise in health concerns, food developers are using natural emulsifier extracts, which have a large surface area that allows them to pull oil and water. Additionally, the fibrous compositions have hydrophilic and lipophilic ends that help attract moisture and oil to the matrix, which further binds them together. This will be a major growth booster for the worldwide industry in the upcoming years.
COVID-19 Impact Analysis
COVID-19 has created immense pressure across the supply chain and had crippled multiple nodes during the early stages. While impact on industrial manufacturers was high, impact on food & beverage sector was lower than the estimates. Closure of manufacturing facilities and low throughput of facilities had shown significant impact on the market. Crippled supply chains and disruptions during the pandemic period negatively affected the market, but V shaped recovery curve was observed for the citrus fiber market in developed economies.
As the global economy is still under significant pressure due to the pandemic and is recovering slowly, its impact on the global trade and supply chain has been low during 2021. The governments of various countries have imposed strict containment and preventive measures to control the impact of the outbreak resulting in restricted transportation of raw materials across the globe. Therefore, a demand and supply gap were formed, but swell in demand for packaged goods was observed. This trend is expected to continue owing to the uncertainty in the global market. Partial easement of lockdowns in multiple countries and restarting of trade in some capacity has shown positive effect on the market.
Market Segmentation
Some of the primary applications of Citrus Fiber Market Overview’s analysis is personal care, food & beverages, and more. Food & beverages-based segments can be meat substitutes, dairy & frozen desserts, bakery & confectionery, meat products, beverages, and others. The food & beverages segment will remain dominant throughout the evaluation timeline, garnering the highest growth rate as well. On the other hand, the personal care segment should continue to soar at a decent pace in the coming years. Major manufacturers are progressively developing pectin-based cosmetics. In the forthcoming years, personal care products, as well as cosmetics infused with natural ingredients, should register significant demand.
Regional Outlook
The North American market for citrus fiber market gains maximum traction, given the expansive consumer base and the strong presence of renowned firms in the region. Significant discretionary consumer income along with their high spending on organic and plant-based items as well as dairy alternatives should enhance the citrus fiber market size in subsequent years. The mounting demand for packaged convenience food will further propel the market demand.
Europe will be another formidable market for the citrus bioflavonoids market, given the easy availability of these products, a high number of cafes and restaurants, and the thriving hotel industry. Countries like France, Germany, Spain, the United Kingdom, and Italy will be heading the European market in the following years.
The Asia Pacific will be the fastest-developing market in the years to come, driven by the evolving lifestyle of the consumers, in line with surging purchasing prowess and mounting health awareness among people. The soaring number of health-conscious consumers, especially among the Gen Z population and millennials in the region would bolster the market value.
Key Players
The Key Citrus Fiber Market Players major citrus fiber developers are CP Kelco Inc (United States), Herbafoods Ingredients GmbH (Germany), Nans Products (India), FUYAN PHARM Inc. (China), Fiberstar Inc (United States), Cifal Herbal Private Ltd (India), Golden Health (China), Lemont (China), Ceamsa (Spain), Florida Food Products, Inc. (United States), and others.
Industry Developments
December 2021
Fiberstar Inc., the renowned developer of high-performance citrus fibers, has launched methylcellulose-free solutions to develop clean label meat substitutes. The new Citri-Fi TX20 texturizing citrus fiber can be utilized with certain plant-based proteins including potato and canola to produce methylcellulose-free meat analogs. The methylcellulose-free solutions are clean label, and the labeling options are citrus fiber, citrus flour, or dried citrus pulp.
NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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