A recent report by Fact.MR investigates that the citrus fiber market is expected to surpass US$ 500 Mn by 2031, growing at a healthy CAGR of nearly 6% for the forecast 2021-2031 forecast period. Growth is reliant on increased consumption of clean-label foods to maintain healthy lifestyles.
From 2016 to 2020, sales of citrus fibers expanded at a CAGR exceeding 4%, closing in at US$ 300 Mn. As the COVID-19 pandemic unfolded, a paradigm shift was observed in consumer eating habits, switching over to natural alternatives. This significantly heightened prospects for citrus fibers.
Industry growth for pectin foods has increased significantly in recent years. Shelf-life in breads has been increasingly paying attention to citrus peels. Pectin is produced by juice extraction from citrus, lemon and orange. The manufacturers use the pectin as a gelling agent in jellies and jams.
Key Takeaway from the Market Study
- By application, citrus fibers demand for personal care to expand at 5% CAGR through 2031
- Citrus fibers as water binders & fat replacers to generate nearly 50% revenue through 2021
- Use as additives in processed foods to account for around 3/5th of overall demand in 2021
- U.S to remain primary North American landscape, accounting for almost 9 out of 10 sales
- Brazil to lead the Latin American market, accounting for over 45% revenue through 2031
- China and India to yield lucrative growth opportunities for citrus fibers in forthcoming years
“Rising demand for natural ingredients and clean labels is spurring citrus fiber application across industries such as food and beverage industries and cosmetic industries. Niche feed and pet food applications are also expected to boost growth in the coming decade,” comments the Fact.MR analyst.
Competitive Landscape
Citrus fiber has mainly been used as a food additive in food and beverages, animal feed, pharmaceutical, and cosmetic applications. Emerging economies such as India, China, Indonesia, Germany and Brazil are experiencing lucrative growth in the food, pharmaceutical, and cosmetics industries.
Major players in the market are focusing on capacity and geographical expansion strategies in addition to collaborations with local players to bolster production and distribution operations in untapped markets.
Leading suppliers of citrus fiber are Fiberstar, Inc., CEAMSA, CP Kelco, Inc., Herbafoods Ingredients GmbH, Florida Food Products, Inc., Lemont, Golden Health, FUYAN PHARM (Henan), Inc., Nans Products, and Cifal Herbal Private Ltd., among others.