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Citrus Fiber Market Segmentation by Function (Water Binder and Fat Replacer and Thickening Agents); by Grade (Pharmacy Grade Citrus Fiber, Food Grade Citrus Fiber, and Others); by Application (Food & Beverage, Personal Care, Pharmaceutical, and Animal Feed) – Global Demand Analysis & Opportunity Outlook 2030

Buy Now Report ID: 3396 | Published Date: Feb 08, 2023

Global Citrus Fiber Market Regional Synopsis

On the basis of geographical analysis, the global citrus fiber market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Latin America is estimated to witness noteworthy growth over the forecast period on the back of the growing consumption of citrus fiber-based products, increasing consciousness about health002Drelated concerns among people and rise in the production of natural ingredients based products in the region. Moreover, the market in North America is predicted to gather the largest share during the forecast period ascribing to the growing demand for pharmaceutical ingredients and natural food, rapid change in the eating pattern of consumers and rising incidences of chronic diseases in the region. According to the National Cancer Institute, an estimated 1,806,590 new cases of cancer were supposed to be diagnosed in the United States in 2020. In addition, the rate of new cases of cancer (cancer incidence) is 442.4 per 100,000 men and women per year. Apart from these, prohibition of food ingredients, namely carrageenan and phosphates by the FDA is also expected to boost market growth in the future.  

The global citrus fiber market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


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Citrus Fiber Market
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Major Macro-Economic Indicators Impacting the Market Growth

Chemicals Analyst

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.


Market Segmentation

Market-Growth-Drivers

Our in-depth analysis of the global citrus fiber market includes the following segments:

By Function

  • Water Binder and Fat Replacer
  • Gelling Agents
  • Thickening Agents

By Grade

  • Pharmacy Grade Citrus Fiber
  • Food Grade Citrus Fiber
  • Others

By Application

  • Food & Beverage
  • Personal Care
  • Pharmaceutical
  • Animal Feed

Growth Drivers

  • Growing Demand for Natural Ingredients in a Wide Range of Food Based Applications
  • Escalating Consumer Awareness Associated with Food Safety

Challenges

  • Low Awareness about the Benefits of Citrus Fiber in Underdeveloped Nations


Chemicals Analyst
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Top Featured Companies Dominating the Market

top-features-companies
    • CP Kelco, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Fiberstar, Inc.
    • FUYAN PHARM (Henan), Inc.
    • Nans Products
    • Cifal Herbal Private Ltd.
    • Herbafoods Ingredients GmbH
    • Florida Food Products, Inc.
    • UNIPEKTIN Ingredients AG
    • Cargill, Incorporated
    • DuPont de Nemours Inc.

In-the-news

In The News

  • November 2020- CP Kelco explored the applicability of its product, named Nutrava Citrus Fiber as an ingredient in dressings, spreads, soups and sauces. The product is claimed to deliver clean label goals, along with fat and sugar reduction.


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Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


Author Credits:  Anil Kumar, Ipsheeta Dash


Key Questions Answered in the Report

1) What are the major factors driving the growth of the citrus fiber market?

Ans: The major growth drivers for the market are growing demand for natural ingredients in a wide range of food based applications and escalating consumer awareness associated with food safety.

2) What would be the CAGR of citrus fiber market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the citrus fiber market growth?

Ans: Low awareness about the benefits of citrus fiber in underdeveloped nations estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of citrus fiber market in future?

Ans: Latin America will provide more business opportunities to the market owing to the growing consumption of citrus fiber based products, and increasing consciousness about health related concerns among people.

5) Who are the major players dominating the citrus fiber market?

Ans: The major players in the market are CP Kelco, Inc., Fiberstar, Inc., FUYAN PHARM (Henan), Inc., Nans Products, Cifal Herbal Private Ltd., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the citrus fiber market?

Ans: The market is segmented by function, grade, application, and by region.

8) Which segment captures the largest market size in the application segment in the citrus fiber market?

Ans: The food and beverage segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.

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