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Pectin Market Size 2021 Covid-19 Impact Analysis by Industry Trends, Future Demands, Prominent Players, Future Plans and Forecast till 2030

In a recent published report, Kenneth Research has updated the market report for Pectin Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Pectin Market products.

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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.

The Pectin Market is predicted to grow with a robust CAGR during the forecast period. Some of the significant factors that are anticipated to drive the market are the growing investments from the multinational companies in several nations worldwide to develop production facilities that can promote the production growth, backed by the rising need for chemicals from several end-user industries for different end-use purposes. According to the statistical report titled “Global Chemicals Outlook II”, published by the United Nations Environment Programme, the global chemical industry’s production capacity almost doubled to reach 2.3 billion tonnes in the year 2017 from 1.2 billion tonnes in the year 2000. Moreover, increasing spending on research and innovation (R&I) for the development of advanced chemicals is also anticipated to drive the growth of the market over the forecast period.

Pectin is a heterogeneous structure of polysaccharides in the fruits and vegetables. The pectin is produced from the waste of apple and citrus peel. The pectin is used as a thickener, stabilizer and an emulsifier. Pectin is also used as gelling agent in food products such as jam and jellies. It is also used in sweets, dairy products, bakery items and others. It is a natural source of protein for human diet and also provide various nutrients and proteins. Pectin is used as dietary fiber and has various health benefits associated with it. Additionally, pectin is widely used in pharmaceuticals and cosmetics industry.

Market Size and Forecast

The global pectin market is observing vibrant growth on account of increasing demand from confectionary and dairy products, thereby driving the demand for pectin. Additionally, rising food industry coupled with the increasing research and development in the industry is projected to drive pectin market across the globe.

The market segmented into function type and application. The pectin market is highly driven by the thickener segment on the account of high application of pectin in food and beverage industries during the forecast period. The application segment is anticipated to be dominated by the dairy products on the back of high usage of pectin in various food items such as yogurt, desserts, smoothies and others during the forecast period.

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As per Organisation for Economic Co-operation and Development, the global consumption of dairy products increased from 411,173 tonnes in 2015 to tonnes in 2016, 414,687 tonnes in 2017, 426,228 tonnes in 2018 and 435,805 tonnes in 2019. The rise in dairy product consumption is expected to drive

the demand for pectin market by the application in numerous dairy products. Pectin market is anticipated to record a CAGR of 8.1% over the forecast period.

Leading Companies of Global Market

DuPont, B&V srl, Ceamsa, Yantai Andre Pectin Co. Ltd., CP Kelco, Naturex, Silvateam, Tate & Lyle, Herbstreith & Fox and other key players.

Growth Drivers

Rising consumption of dairy product coupled with rising disposable income is expected to boost the pectin market in the developing regions. Additionally, increasing derivatives of dairy products coupled with the rising trend for consuming healthy food is driving the pectin market during the forecast period. Moreover, the rising health awareness has shifted the focus towards consuming dairy products on regular basis. This is expected to drive the pectin market during the forecast period.

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The rising application of emulsifying agent in the cosmetics industry is expected to drive the pectin market during the forecast period. Additionally, it is used as a stabilizer in the cosmetics which is anticipated to propel the demand for pectin during the forecast period. The high demand for cosmetics among the working women population is driving the market growth of pectin in the forthcoming years.

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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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