Market players are focused on enhancing their innovation strategies and regional presence, which can help them in offering unique products to customers.
ROCKVILLE, MD / ACCESSWIRE / September 15, 2020 / The global citrus fiber market is anticipated to grow at a value CAGR of 5% during 2020-2030. The key factor complementing the market growth is due to the progressions in the food sector. However, the COVID-19 pandemic has impacted the citrus fiber market significantly because of latency in the end-use sector among limitations on human mobilization.
'With the rising demand for food products containing vitamin C, the citrus fiber market trends will remain to be favorable for substantial growth, as a consequence of increasing health awareness pertaining to food consumption, worldwide.' says the Fact.MR analyst.
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Citrus Fiber Market - Key Takeaways
- The global citrus fiber market is anticipated to attain a market revenue of US$ 790 Mn through 2030.
- In terms of grade, the pharmaceutical grade citrus fiber is slated to grow at a CAGR of 5% during 2020-2030.
- Based on functions, water binders & fat replacers will be witnessing a growth rate of close to 5% amid the forecast period.
- The European market will account for a noticeable share, whereas the Asia Pacific market will record the maximum CAGR.
Citrus Fiber Market - Driving Factors
- Higher adoption of digital marketing and a rise in several online e-Commerce platforms are paving new roads for the development of the citrus fiber market.
- Growing consumer awareness concerning food safety is escalating the consumption of essential ingredients such as citrus fibers that are critical for regulating digestion and body metabolism.
- The rise of the clean label movement has boosted the demand for nutritional and natural food products and has amplified the presence of citrus fiber in various product ranges in the food & beverage sector.
Citrus Fiber Market - Constraints
- Citrus fiber is hardly ever utilized at levels above 1% in food products owing to its high water holding capacity.
- Higher amounts of citrus fiber are likely to cause textural defects since it outcompetes several other water ingredients.
Anticipated Market Impact by COVID-19 Outbreak
With restrictions and lockdowns imposed all over the world to avert the spread of COVID-19, the need for citrus fiber from end-use sectors has taken a hit. Conversely, partial uplift of the lockdown, as well as immunity-boosting food products are higher in demand, auguring well for the development of the worldwide citrus fiber market.
Explore the global citrus fiber market with 114 figures, 80 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/2305/citrus-fiber-market
Companies identified in the citrus fiber market include Fiberstar, Inc., Ceamsa, Quadra Chemicals Ltd., Florida Food Products, and Cargill, Inc. Companies are focused on geographical and capacity expansion to meet heightening citrus fiber demand in the food & beverage sector. For instance,
Fiberstar Inc. launched a naturally-extracted citrus fiber Citri-Fi 125 from the orange juicing procedure, applicable for enhancing tomato-based food products by substituting gums and starch in spreads, condiments, and sauces.
More on the Report
The FACT.MR's market research report provides in-depth insights into the citrus fiber market. The market is scrutinized on the basis of grade (pharmaceutical, food and others) source,( lemon & limes, grapefruit, tangerines/mandarins, and oranges), application (bakery, desserts& ice cream, sauces & seasonings, meat & egg replacement, beverages, flavoring & coatings, snacks & meals, personal care, pharmaceuticals and other applications), and function (water binders & fat replacers, thickening gums, and gelling gums) across seven major regions (North America, Europe, East Asia, South Asia, Oceania, Latin America, and Middle East & Africa (MEA).
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