Citrus Fiber Market Competition Rise at Revenue $0.49 Billion | CP Kelco Inc, Herbafoods Ingredients GmbH, FUYAN PHARM Inc.
Research Reports
Aug 16, 2023
Citrus Fiber Market Overview:
Market Research Future (MRFR) expects the Citrus Fiber Market Size was estimated at USD 0.4 billion in 2022. The Citrus Fiber Market is projected to grow from USD 0.41 Billion in 2023 to USD 0.49 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.17% during the forecast period (2023 – 2030).
Market Drivers and Key Barriers:
Mounting concerns about the additives present in foods as well as meat has made clean label almost a prerequisite for the citrus fibers market. In view of the toxic effects of synthetic additives on the human body, many of the 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 the product integrity. Given the surge in this kind of replacement formula, the global market should continue to expand at a rapid rate from 2019 and 2028.
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.
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Key Players:
The 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.
Market Segmentation:
Some of the primary applications of citrus fiber are personal care, food & beverages, and more. Food & beverages-based segments can be meat substitutes, dairy & frozen desserts, bakery & confectionery, meat products, beverages, and others. 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.
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Regional Outlook:
The North American market for citrus fiber 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 citrus fiber, given the easy availability of these products, 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.
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. Soaring number of health-conscious consumers, especially among the Gen Z population and millennials in the region would bolster the market value.
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 for the production of methylcellulose-free meat analogs. The methylcellulose-free solutions are clean label and the labeling options are citrus fiber, citrus flour or dried citrus pulp.
Key Drivers of the Market
- Increasing demand for natural and healthy ingredients in food and beverages: Citrus fiber is a natural and healthy ingredient that is high in soluble fiber. It is also low in calories and fat, making it a popular choice for consumers who are looking for ways to improve their health.
- Growing popularity of gluten-free and vegan diets: Citrus fiber is a naturally gluten-free and vegan ingredient. This is making it a popular choice for consumers who are following these diets.
- Expanding use of citrus fiber in a variety of applications: Citrus fiber is being used in a variety of applications, including bakery products, snacks, beverages, and personal care products. This is expanding the market for citrus fiber and is expected to drive the growth of the market in the coming years.
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