Global Sugar Beet Pectin Market Size & Share Revenue Was $195 Million in 2022 and is anticipated to surpass $325 Million by 2030, At a 6.35% CAGR | Emerging Trends and Strategies
Sugar Beet Pectin Market
The global sugar beet pectin market size was worth around USD 195 Million in 2022 and is predicted to grow to around USD 325 Million by 2030 with a compound annual growth rate (CAGR) of roughly 6.35% between 2023 and 2030. The report analyzes the global sugar beet pectin market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the sugar beet pectin industry.
Sugar beet is a plant with roots containing a high concentration of sucrose and is grown for the commercial production of sugar. Pectin refers to a naturally or commercially produced ingredient that is essential for preserving food items like jellies or jams, the absence of which may cause a lack of gel in such food items. Pectin is more or less a form of starch called heteropolysaccharide and occurs in the walls of vegetables or fruits imparting their structure. When pectins are mixed with sugar along with acid, they can deliver jams and jellies to the semi-solid structure after they have cooled off. Pectin is considered a natural material and a lot of research have concluded that it contains excellent bioactive properties.
When pectin is extracted from sugar beet pulp, it can be used as a food emulsion stabilizer. Beet pectin is proven to have a considerable amount of proteins and it is suggested by multiple reports, that the high protein content is responsible for sugar beet pectin to act as an emulsifier. Sugar beet pectin is growing in demand because of its low molecular weight as compared to apple pectin or citrus while swelling less. Because sugar beet pectins have a lower water binding capacity, it becomes easy to consume them with a soluble fiber supplement or with yogurt, sauces, and other beverages. Some of the approved health benefits in case of regular consumption of sugar beet pectin are positive effects on blood cholesterol levels and postprandial glycemic response reduction
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Covid-19 harmed the global sugar beet pectin market share owing to the closure of manufacturing units. During the peak of the pandemic, the transportation of non-essential goods was largely restricted which was also coupled with a generally reduced demand for the products. However, given the benefits of adding sugar beet pectin to food items the global market cap may grow during the forecast period at a significant rate.
Increasing adoption of sugar beet pectin in the food sector to aid global market growth
The global sugar beet pectin market is anticipated to grow owing to the rising applications of sugar beet pectin in the food sector. As per FCC Food & Beverages report, the food manufacturing sales in Canada grew at 14.8% year to year which resulted in an accumulated revenue of over USD 121 billion in 2021. As of 2022, the Canadian food sector is expected to grow at a rate of 7.4%. The rising trend of adoption of sugar beet pectin in the food sector is owed to the improved properties of the food items due to the addition of sugar beet pectin. The properties include rheological, physicochemical, and nutritional aspects.
Even though sugar beet pectin is a relatively newer type of pectin, it has received widespread attention. This is also related to the relatively fewer operations required to produce sugar beet pectin as compared to other forms of pectin. The global market cap may also grow owing to the increased research and development activities in the food sector. As per a 2019 report the top 15 food firms in the UK spent over £ 900 million on R&D. Such initiatives by government and private institutes are expected to aid global market growth during the forecast period.
Fluctuating price of pectin to restrict global market expansion
The prices related to the pectin raw material are constantly fluctuating. This can be attributed to tight supply and the high cost of raw materials. Since high-quality sugar beet is available only in selective regions, the cost of these items automatically becomes higher than their readily available counterparts. Importing sugar beet products along with other expenses related to the production of pectin increases the overall cost significantly thus restricting the global sugar beet pectin market growth.
Growing food sector in emerging economies to provide global market growth opportunities
The global sugar beet pectin market share may benefit from the vast opportunities present in the emerging sectors, especially in the food sector. As per a CNBC report published in September 2021, Asia's food spending is expected to double and reach more than USD 8 trillion by 2030. The current influx of food demand in already developed and developing countries is already high owing to the exponentially rising population along with growing awareness about healthy food, and the presence of multiple domestic and international players in the Fast Moving Consumables Group.
Less availability of sugar beet to challenge the global market expansion
Sugar beet is not readily available in all regions. In certain parts of the world, the availability is high whereas for some reasons it is not enough to meet the demand. This may challenge global market expansion since many of the end-users may end up importing the product. In current times, all countries are working toward becoming self-reliant given the political uncertainty. Importing large goods whose substitutes may be easily available may not work in a country’s economic favor.
The global sugar beet pectin industry is segmented based on function, process, application, and region.
By function, the global market is segmented into stabilizer, emulsifier, and fat replacer. Generally, the largest market share is owned by the emulsifier segment as sugar beet pectin possesses more advantages than other food hydrocolloids due to the requirement for lower concentration to cover the surface of oil droplets thus activating the oil-water surface.
By process, the sugar beet pectin industry segments are vacuum-drying, hot air-drying, spray-drying, and freeze-drying. For research purposes, many studies have been conducted by producing sugar beet pectin under various conditions like spray-drying at (160, 190, and 220 °C), or vacuum-drying at (40, 50, and 60 °C), which concluded that the chosen drying condition affects the viscosity and activation energy for all protein samples.
By application, the global market segments are dairy products, food & beverages, jams & jellies, and others. As per research papers, the largest yield of sugar beet pectin from raw materials is produced at 90 °C after 4 h at pH 1. After the evaluation of this yield, it was concluded that they can be best used in various food products like a thickener in tomato sauce. F&B is the highest consumer of sugar beet pectin.
|Sugar Beet Pectin Market Research Report
|Market Size in 2022
|USD 195 Million
|Market Forecast in 2030
|USD 325 Million
|Compound Annual Growth Rate
|CAGR of 6.35%
|Number of Pages
|Value (USD Million), and Volume (Units)
|Key Companies Covered
|AEP Colloids, Krishna Pectins Pvt Ltd, CP Kelco U.S., Inc., TIC Gums, Inc., Herbstreith & Fox, Lucid Colloids Ltd., Dupont, Cargill, Merck KGaA, and Silvateam S.p.a
|By Function, By Process, By Application, And By Region
|North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)
|2017 to 2021
|2023 - 2030
|Avail customized purchase options to meet your exact research needs. Request For Customization
Europe to grow significantly during the forecast period
The global sugar beet pectin market is expected to be dominated by Europe during the forecast year owing to the growing food & beverages sector. As per 2020 reports, the F & B sector in Europe was around €1.2 trillion with additional revenue of €266 billion from value-added services. It employs more than 4.5 million of the European population. The promising signs shown by the EU market are expected to propel global market cap growth in the next few years.
Asia-Pacific may also generate high revenue because of the growing population and subsequent rise in food demand. The use of sugar beet pectin as an emulsifier may play a significant role in regional market size expansion. North America is a popular market for sugar beet pectin because of its advanced economic state allowing them to invest and incorporate advanced technologies in the production of sugar beet pectin.
The global sugar beet pectin market is run by players like:
The global sugar beet pectin market is anticipated to grow owing to the rising applications of sugar beet pectin in the food sector.
According to Zion Market Research, the global sugar beet pectin market size was worth around USD 195 million in 2022 and is predicted to grow to around USD 325 million by 2030 with a compound annual growth rate (CAGR) of roughly 6.35% between 2023 and 2030
The global sugar beet pectin market is expected to be dominated by Europe during the forecast year owing to the growing food & beverages sector.
The global sugar beet pectin market is run by players like AEP Colloids, Krishna Pectins Pvt Ltd, CP Kelco U.S., Inc., TIC Gums, Inc., Herbstreith & Fox, Lucid Colloids Ltd., Dupont, Cargill, Merck KGaA, and Silvateam S.p.a