Citrus Fiber market research study in brief
The business intelligence study for the Citrus Fiber market provides an extensive synopsis of essential aspects involving the product classification, important definitions, and other industry-specific parameters. The report also covers the key factors associated with the current events such as alliances, mergers & acquisitions, and new product launches.
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Additionally, the Citrus Fiber market study puts forth a rigid basis for collecting a cluster of insights that potential customers can use to enhance their revenues and reduce costs. The illustration of data on Citrus Fiber market segmentation by type, application, and geography offers a critical viewpoint of, what manufacturers are eyeing for the stipulated timeframe.
Increase in awareness regarding health has been compelling more people to opt for low-fat food and beverages in order to reduce and control obesity. Surge in demand for pharmaceutical-grade citrus fibers in diverse applications in the medical field is further propelling demand across regions.
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As stated by the Food and Drug Administration (FDA), prohibited food ingredients such as phosphates, hydrocolloids, etc., must be completely replaced by citrus fiber ingredients in order to improve the quality of food. With requirement for natural and nutritional food products soaring, players in the citrus fiber industry are expected to witness decent growth over the coming years. Additionally, with meal-consumption behavior among consumers changing drastically, requirement for packaged and convenience food & beverages is spiraling upward. As a result, citrus fiber, being a crucial component of such food products, is expected to witness high demand from this sector.
According to Fact.MR, the global citrus fiber market is projected to ascend at close to 5% CAGR during the forecast period of 2022 to 2031.
Key Takeaways from Study
- In terms of source, citrus fiber from oranges to register highest demand
- Rise in requirement from food industry to bolster growth of citrus fiber manufacturers
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- Application of citrus fiber in jam & jellies and bakery products to spur market growth
- Germany to maintain its lead in the world’s largest market for citrus fiber, Europe
- Asia Pacific to exhibit fastest growth throughout the forecast period
- The United States to exhibit hegemony in the world’s third-largest market, North America
- Japan, the United Kingdom, China, Canada, and a few other countries to maintain positive market outlooks through 2031
“Rise in requirement for natural sources of vitamin C is significantly aiding in the growth of stakeholders in the citrus fiber industry. Additionally, growing application of citrus fibers as a water binder & fat replacer in diverse end-use industries is further catering to market expansion,” says a Fact.MR analyst.
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Increase in Requirement from Food & Beverage Sector for Citrus Fiber
Owing to its excellent gelling, thickening, water-binding, and stabilizing properties, citrus fiber is extensively used in manufacturing snacks & bakery products. Additionally, nutritional benefits and clean label delivered by citrus fiber are what make it highly preferred in food & beverages.
According to a report titled “Food and Drink Industry- Internal Market, Industry, Entrepreneurship and SMEs”, published by the European Commission (EC), in the last 10 years, European Union (EU) food and drink exports have doubled, reaching over EUR 90 billion, and contributing to a positive balance of almost EUR 30 billion.
As stated in a report published by the Select USA on 5th November 2019, the United States is Colombia’s top source for processed food products, with 2018 imports up 13.7% to US$ 650 million. No doubt that the expanding food & beverage industry has major contribution to steady expansion of the citrus fiber market.
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