New York, US, May 03, 2022 (GLOBE NEWSWIRE) -- Citrus Fiber Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Citrus Fiber Market Information by Application, Personal Care, and Region - Forecast till 2028”, the market is projected to register a CAGR of 3.17% and reach a value of USD 431.8 million by 2028.
Market Scope:
Citrus fiber is a dietary fiber formed from the indigestible component of citrus fruit that goes largely undigested through the human digestive system. Citrus fiber is made up of soluble and insoluble fibrous components that come from various citrus fruits. Pectin, fructans, psyllium, and other gums are soluble dietary fibers (SDF), which dissolve in water and are broken down into a gel-like substance in the colon.
Citrus Fiber helps to increase dietary fiber intake, has unique water-binding, texturizing, and stabilizing properties, can be used as a sugar or oil substitute in many recipes, and can help to reduce starch use. Citrus fiber fills the requirement for natural-based, clean-label-friendly, and identifiable components in a variety of food and beverage items, as consumer demand for clean-label products grows. It's created using citrus peels that have been responsibly procured, which are a common byproduct of the juice business.
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Competitive Landscape:
- Fiberstar, Inc. (United States)
- CP Kelco, Inc. (United States)
- Herbafoods Ingredients GmbH (Germany)
- Lemont (China)
- FUYAN PHARM Inc. (China)
- Ceamsa (Spain),
- Florida Food Products, Inc. (United States)
- Golden Health (China)
- Cifal Herbal Private Ltd (India)
- Nans Products (United States)
- Florida Food Products, Inc. (United States)
- Florida Food Products (India)
Browse In-depth Market Research Report (90 Pages) on Citrus Fiber: https://www.marketresearchfuture.com/reports/citrus-fiber-market-10762
Market USP:
Market Drivers:
Consumer awareness and desire for functional products are projected to boost the growth of the citrus fiber market around the world. Citrus fiber has been popular for several years, and consumers with a high level of health awareness, such as athletes, have been the key purchasers. Citrus fiber is in great demand in the market, and demand from certain demographics has increased in recent years. Citrus fiber demand has been boosted by increased consumer awareness of nutritional labeling and a dislike for excessively processed components. Increased lifestyle changes and acceptance of new diets such as keto, vegan, and organic have benefited various citrus fiber markets, and this trend is likely to continue over the forecast period.
During the forecast, high-level investments and innovative product lines for plant-based functional products are predicted to boost demand for citrus fiber. In North America and Europe, the trend toward plant-based products has had a significant impact on consumer tastes. The market's influence is still in its early stages, but novel uses of citrus fiber in the food and beverage industry could boost the market's growth.
The citrus fiber market is currently in its early phases of development, but it is predicted to grow rapidly over the next few years. Demand has been strong in developed economies, but demand in emerging nations is likely to progressively rise during the predicted period. During the forecast period, changes in consumer snacking behaviors and demand for clean label & natural ingredients are projected to boost the citrus fiber market's growth.
Market Restraints:
Citrus fiber prices are high in contrast to other fiber products because of the high manufacturing costs and initial investments required. This may have an impact on consumer acceptance in the early stages, but new firms joining the market can improve competition and, as a result, buyer power in the long run.
COVID-19 Analysis
COVID-19 has put a lot of strain on the supply chain and has crippled a lot of nodes in the early phases. While the impact on industrial producers was significant, the impact on the food and beverage industry was less than anticipated. The market had been impacted significantly by the closure of production facilities and low throughput of facilities. During the pandemic, the market was badly impacted by disrupted supply chains and interruptions, although the citrus fiber market in developed economies showed a V-shaped recovery curve.
Because the world economy is still reeling from the pandemic and is just slowly recovering, the impact on global trade and supply chains has been minimal in 2021. The governments of many nations have enforced tight containment and prevention measures in order to control the outbreak's impact, which has resulted in the shipping of raw materials being prohibited around the world. As a result, a demand and supply gap developed, but there was a surge in demand for packaged goods. Because of the global market's uncertainty, this tendency is projected to persist. The partial lifting of trade restrictions in several nations, as well as the resumption of some trade, has had a beneficial impact on the market.
Market Segmentation
The global citrus fiber market has been segmented into three categories: food & drinks, personal care, and others. Bakery & confectionery, dairy & frozen desserts, beverages, meat products, meat replacements, and others make up the food & beverage section. The food and beverage segment holds the majority of the market share. In comparison to other market segments, this segment is predicted to develop the fastest. Personal care has had moderate growth in recent years and is likely to continue to do so over the projection period.
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Regional Insights:
In 2020, the citrus fiber market in North America held the largest share of the global market. Citrus fiber is a burgeoning industry in North America, thanks to strong demand and the presence of established competitors. Even though the rising acceptance trend of citrus fiber has been significantly hampered by the products' palatability, demand for citrus fiber is likely to remain robust during the forecast period. Citrus fiber is predicted to expand in popularity in North America due to rising disposable income and increased expenditure on plant-based foods and dairy substitutes. In North America, the rise in demand for convenience and packaged foods is likely to augment the rise in citrus fiber consumption.
In comparison to North America and Europe, Asia Pacific has a low demand for citrus fiber. Manufacturers of citrus fiber, on the other hand, expect it to be a lucrative region. The adoption of healthy lifestyle choices during the post-pandemic period has fueled regional market expansion. The rise of the packaged food sector, which would augment demand for citrus fiber in the region, is likely to be aided by increased discretionary income and consumer spending power. During the projection period, the Asia-Pacific market is predicted to develop at the fastest rate.
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Browse In-depth Market Research Report (90 Pages) on Citrus Fiber Market: https://www.marketresearchfuture.com/reports/citrus-fiber-market-10762
