Citrus Fiber Market Revenue to Cross USD 500 million in 2031 to Expand at a CAGR of 5.7% | Exclusive Report by Transparency Market Research

Wilmington, Delaware, United States, July 17, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global citrus fiber market stood at US$ 300 million in 2021 and the global market is projected to reach US$ 500 million in 2031. Global citrus fiber market is anticipated to expand at a CAGR of 5.7% between 2022 and 2031.

High surface area and composition of citrus fiber allow water holding, emulsification, and gelling, while using at very low levels. Increasing demand for natural food ingredients is driving the global citrus fiber market during the forecast period.

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Market Snapshot:

Citrus fibers have risen in prevalence, as researchers uncover health benefits and producers try to enrich their products with these well-known ingredients. Some of the key applications of citrus fiber include fruit-flavored drinks, drinking yogurts, dressings, condiments, sauces, bakery, meats, and soups. With increasing investment in research and development, researchers have found health benefits of citrus fiber include cancer prevention, heart health, digestive improvement, stress relief, and better skin tone.

Growing awareness for organic products is fueling demand for citrus ingredients in all personal care products. Increasing consumer consciousness about food safety has been pushing the consumption of fundamental ingredients such as citrus fibers, which are crucial for improving body metabolism and digestion. With the development of the clean label inclination, the demand for natural and nutritional food products has increased the addition of citrus fiber in several product ranges in various industries.

Global Citrus Fiber Market: Key Players

• Fiberstar, Inc., the leader of innovative citrus fibers launched a line of new organic citrus fibers – Citri-Fi® 400 series. These new citrus fibers are in response to the increasing demand for natural, sustainable and organic food ingredients. For instance, market drivers fueling the uptick in demand include a growth in consumer health and wellness initiatives and limited availability of hydrocolloids due to supply chain challenges. And other drivers include increased visibility of sustainable business practices.
• CP Kelco, a global leader of nature-based ingredient solutions, announced today that it has made extensive progress in expanding biogums production capacity at two of its plant facilities: Okmulgee, Oklahoma, USA and Wulian, China.

Key Takeaways of Market Report

• Global citrus fiber market to generate absolute dollar opportunity worth US$ 500 million until 2031.
• Global citrus fiber market from 2021 to 2031 is 5.7%
• Global citrus fiber market is currently valued at US$ 305.6 million in 2022.
• Global citrus fiber market stood at US$ 300 million in 2021.
• Market value of the global citrus fiber market management from 2018 to 2022 is 3.7%
• North America is said to grow at a CAGR of 9.2%
• Europe market region is estimated to have a market share of 31.3%
  

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Global Citrus Fiber Market: Growth Drivers

• Majority of key players operating in the citrus fiber market is emphasizing maintaining a strong focus on ingredient innovation for wider cosmetic and personal care applications to fulfill the increasing consumer demand for nature-derived beauty products. Consumers are becoming ‘more mindful’ about the ingredients used in all personal care products they purchase, thus demanding more transparency. Many personal products have pectin as an ingredient in them. Pectin is derived from citrus fiber, thus driving the citrus fiber market. Increasing demand for personal care products in Asia Pacific is creating opportunities for players in the global citrus fiber market. Ever-rising demand for personal care products and cosmetics with natural ingredients is also expected to result in significantly high sales of ingredients used in these products in the upcoming years.
• Dominant trend toward using plant-based products is driven by consumers. Food and beverage industry has enhanced the use of plant-based hydrocolloids. With consumers inclining toward vegan diet and increased application of plant-based products, the demand for plant-based hydrocolloids such as pectin, carrageenan, cellulose gum, and locust bean gum has grown. Due to the benefits associated with plant-based products, the citrus fiber market is likely to expand.

Global Citrus Fiber Market: Regional Landscape

• Citrus fiber market is presently dominated by Europe, which holds more than one-third of the global citrus fiber market share. It is mostly due to favorable climatic conditions and increasing demand for packed and convenient food as a result of increasing disposable income and fast-moving lifestyle. Europe are expected to hold a combined share of the global citrus fiber market share of more than 50%. This can be attributed to the increased consumer demand for natural food and pharmaceutical ingredients in this region.
• North America is expected to be the most attractive regional market, expanding at higher CAGR as compared to other regions during the forecast period.

Global Citrus Fiber Market: Segmentation

Nature

• Organic
• Conventional

Source        

• Oranges
• Tangerines/ Mandarins
• Grapefruit
• Lemons & Lime

Grade        

• Food Grade
• Pharmaceutical Grade

Function        

• Water Binder & Fat Replacer
• Thickening Gum
• Gelling Gum
  

Application        

• Food & Beverage
  • Bakery
  • Desserts & Ice-cream
  • Sauces & Seasonings
  • Meat & Egg Replacement
  • Beverages
  • Flavorings & Coatings
  • Snacks & Meals
  • Others
• Personal Care
• Pharmaceutical
• Animal Feed

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa
  

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