NEWARK, Del, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The citrus fiber market is anticipated to thrive at a steady CAGR of 5.7% between 2023 and 2033. The market is anticipated to cross a market share of US$ 211.3 million by 2033, while it holds a revenue of US$ 120.8 million in 2023.
The new fiber enrichment technology helps in making the citrus fiber penetrate industrial use. Furthermore, no chemical modification in the citrus fiber products also pushes the end users to use citrus fiber. Naturally derived citrus fiber is in high demand as it is preferred by the industries that produce chemical-free drinks and beverages.
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Better skin and clearer blood are other merits of citrus fiber, along with its application in pharmaceuticals. Vendors process the citrus with advanced technologies that involve mixing, milling, heating, and drying. The advanced procedure also works in the direction of limiting the waste to the minimum while creating opportunities for other industries to use pure citrus fiber. From soluble to insoluble, citrus fiber provides clean label ad nutritive properties to baked goods.
The major application of citrus fiber in creating beverage ingredient solutions as it provides high water-holding capacity and emulsification properties to deliver a sustainable process and composition also helps the market growth.
Key Points
- The US market is the biggest space for the pet care industry and is anticipated to cross a value of US$ 40.8 Mn by 2033. The regional market is expected to thrive at an elevated 5.9% between 2023 and 2033.
- The South Korean market thrives at the highest CAGR of 6% during the forecast period. The market is likely to reach a value of US$ 5.5 Mn by 2033.
- The food grade segment is likely to thrive in the grade category because of the higher consumption of citrus fiber in various food cuisines and packaged items. It is expected to thrive at a CAGR of 4.8% during the forecast period.
- The orange segment thrives the highest in the source type segments, with a CAGR of 5.5% between 2023 and 2033, while it thrived at a lower CAGR of 4.3% during the historical period.
Competitive Landscape
Key competitors focus on delivering the most organic citrus fiber to industrial end users. The wide range of applications pushes vendors to adopt techniques to deliver a better and dimension-specific proportion of citrus fiber solutions. Key players in the market 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.
For instance:
- Herbafoods Ingredients GmbH has extended its product chain by introducing 100% citrus fiber that is textured, stabilized, and emulsified. The product comes with fruit-specific flavour and aroma and moderate water-binding capacity.
- CP Kelco, Inc has introduced its nature-based raw citrus fiber named NUTRAVA, which is clean label-friendly citrus for multi-industrial usage.
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Key Segments
By Grade:
- Food Grade
- Pharmaceutical Grade
- Cosmetic Grade
By Source:
- Orange
- Tangerine/Mandarins
- Grapefruit
- Lemons and Lime
By Application:
- Bakery
- Desserts and Ice-cream
- Sauces & Seasonings
- Meat & Egg Replacement
- Beverages
- Flavorings & Coatings
- Snacks & Meals
- Personal Care
- Pharmaceutical
- Other Application
By Function:
- Water Binder & Fat Replacer
- Thickening Gums
- Gelling Gums
- Others
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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