New York, NY, May 04, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Citrus Fiber Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2023”. According to the report, the global citrus fiber market is expected to reach USD 384.6 million by 2023, growing at a CAGR of around 5.3% between 2017 and 2023.
The global citrus fiber market is expected to witness significant growth over the forecast period on account of increasing demand from food & pharmaceutical industry. Citrus fibers are generally neutral in taste and odor and on mixing this in food products helps to enhance the quality and taste. Generally insoluble dietary fibers are acquired by utilizing citrus peel owing to the occurrence of bioactive components, and other different nutrients. It has abundant nutritional benefits as well as functional properties. They are also known to have significant health advantages for instance fat metabolism, improved digestion, and prevent breast and gastric cancers. Citrus fibers have a range of advantages and they act as a prospective anti-allergen; therefore, the market is gaining demand and popularity globally. The rising demand for natural dietary fibers for avoiding different diseases is the major aspect fueling the demand and popularity of citrus fiber market. With the growing population, the demand for dietary fiber and improving the standard of living is anticipated to aid the market growth within the forecast period.
Browse through 29 Tables & 38 Figures spread over 110 Pages and in-depth TOC on "Global Citrus Fiber Market: Industry Type, Size, Share, Trends and Forecast 2016 – 2022”.
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The food industry segment dominated the citrus fiber market. Citrus fibers are used in various applications since they are neutral in taste, odour, and colour. In addition, the growing popularity of various food producers in adding citrus fiber to various food products, especially meat, enables them in improving the yield and enhances the quality of end products. Moreover, citrus fiber-added food products are gaining traction among market players in producing cost-effective nutritional products.
The pharmaceutical segment is one the leading application segment accounting for most of the global market share and is expected to witness growth within the forecast period. Advanced modern processing systems in pharmaceutical are expected to stimulate citrus fiber demand within the forecast period.
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Asia Pacific region accounted for most of the global volume. This region is expected to witness significant growth within the forecast period owing to expanding dietary food industry in the region, especially in countries like China, India. Moreover, the presence of the key players in the region could drive the demand for citrus fiber within the forecast period. In addition, rising demand & awareness of health advantages of dietary foods in the emerging economies of the Asia Pacific region will lead to the increase in the consumption of citrus fiber.
Europe accounted for a major market share of citrus fiber. This region is expected to witness growth on account of increased demand from the citrus fiber. However, environmental concerns associated with the manufacturing of citrus fiber and the availability of alternatives is expected to curb the growth of the citrus fiber market.
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North America is one of the largest consumers of citrus fiber and is expected to witness significant growth within the forecast period. The economic growth coupled with the increasing production of dietary fibers is expected to fuel the market growth. In addition, a variety of food products, including meat and bakery products, is a primary factor accounting for the major share held by the food grade in North America.
Latin America citrus fiber market is expected to witness decent growth over the forecast period as a result of the low GDPs in the region. However, the increasing touristic activities in countries like Brazil and Chile have increased the requirement for citrus fiber food products in form of bakery products, deserts & Ice-cream, souses & seasoning, meat & egg replacement etc. This is expected to drive the demand for citrus fiber in Latin America.
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The Middle East & Africa citrus fiber market is expected to witness significant growth within the forecast period as a result of increasing health awareness and growing dietary food sector especially in countries like U.A.E. and Qatar.
The key players in the report include Ceamsa, Fiberstar, Inc., Quadra Chemicals Ltd., Cargill, Inc., and Florida Food Products.
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This report segments the global Citrus Fiber market as follows:
Global Citrus Fiber Market: Function Analysis
- Water Binder and Fat Replacer
- Thickening Gums
- Gelling Gums
Global Citrus Fiber Market: Grade Analysis
- Food
- Pharmaceutical
- Others
Global Citrus Fiber Market: Application Analysis
- Bakery
- Desserts and Ice-Creams
- Sauces and Seasonings
- Meat and Egg Replacement
- Beverages, Flavorings, and Coatings
- Snacks and Meals
- Personal Care
- Pharmaceuticals
- Others
Global Citrus Fiber Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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