The citrus pulp fiber market is projected to surpass a valuation of US$ 61.3 Mn, with a steady growth rate through the forecast period (2020-2030). The growing popularity of organic and natural foods and drinks and the high importance food safety standards during the coronavirus outbreak are critical factors behind the rise of the citrus pulp fiber industry. The pandemic has also driven consumer bias towards healthier dietary preferences.
New niche applications of citrus pulp fiber in personal care and animal feed applications will help in sustaining market growth. The market is anticipated to enjoy steady growth post pandemic, as pharma researchers are working on the development of associated gastrointestinal health and cancer solutions.
“With the coronavirus being an animal-origin illness, consumer preference for natural plant-based foods and beverages has surged. Citrus pulp fiber has found niche roles in food and medical verticals. Propelled by the rising consumer awareness about the varied health benefits, the need for organic and conventional citrus pulp fiber is on the rise,” says the FMI analyst.
Citrus Pulp Fiber Market – Key Takeaways
Food grade citrus pulp fiber will contribute substantially to revenue through processed food applications.
Organic citrus pulp fiber is rapidly gaining traction owing to changes in consumer preference. However, conventional options remain dominant owing to easy accessibility.
Oranges remain the preferred source for citrus pulp fiber through the projection period.
Europe and North America hold major market share. However, APEJ is projected to grow at a faster rate, driven by the demand for dietary food in China and India.
Citrus Pulp Fiber Market – Key Driving Factors
Wide-ranging nutritional benefits of citrus fiber pulp is the primary factor driving demand among consumers.
Growing popularity of dietary programs involving insoluble dietary fibers is gaining demand owing to the presence of bioactive compounds.
The need for citrus pulp fibers as taste and odor modifiers in processed food products is on the rise, supporting the industry.
The strong consumer preference for clean label food, beverages, and personal care products is supporting growth.
Citrus Pulp Fiber Market – Key Constraints
Seasonal sourcing and dependence on weather is causing price fluctuations, which is expected to restrict market growth.
Gastrointestinal side effects such as constipation, nausea, cramps, and gas are major challenges for market players.
The Anticipated Impact of COVID-19
The outbreak of coronavirus was spread by animal-based products, which has resulted in a major consumer transition to organic, and natural plant-based food and beverage products. Also, the demand for nutritional foods to bolster immune responses during the crisis has risen, creating key growth opportunities in the market.
Further, the sharp rise in demand for citrus pulp fiber in animal feed, and pharmaceutical products is expected to help in sustaining demand through the COVID-19 crisis, despite disruptions in sourcing and transportation of raw materials during the outbreak. The market is anticipated to steadily recover post pandemic, as operations return to normalcy.
The citrus pulp fiber market is moderately fragmented. Top players in the citrus pulp fiber market include but are not limited to Fiberstar, CP Celco, Herbafood, Silvateam S.p.A., Florida Food Products, DuPont, Cargill Inc., Lucid Colloids Ltd., Quadra Chemicals, Herbstreight & Fox, Compania Espanola de Algas Marinas S.A., and Naturex. These players are investing in strategic collaborations, mergers, and acquisitions to expand business presence and production capacity. Leading players are also researching novel potential applications and technologies for new revenue streams.
Press Release Source: https://www.accesswire.com/593103/Studying-the-COVID-19-Effect-Demand-for-Natural-and-Organic-Food-and-Beverages-Aids-Citrus-Pulp-Fiber-Production-during-Outbreak-Says-Future-Market-Insights-Report
More about the Study
The FMI’s market research study provides comprehensive insights on citrus pulp fiber market. The market is broken down in terms of nature (organic and conventional), grade (food, pharma, and others), source (oranges, tangerines/mandarins, grapefruit, lemon, and lime), application (water binder & fat replacer, thickening gums, and gelling gums), use (bakery, desserts & ice cream, sauces & seasonings, meat & egg replacement, beverages, flavorings, and coatings, snacks & meals, personal care, pharmaceuticals, and others) and distribution channel (supermarket & hypermarket, convenience store, department store, specialty store, pharmacy/drug store, and online) across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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