At a CAGR of 5.5% Citrus Fiber Market is projected to reach $659.2 Million by 2030 - North America held a Major Share
Citrus Fiber Market Growth
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, May 18, 2023 /EINPresswire.com/ -- A new report published by Allied Market Research, titled, “Citrus Fiber Market by Application and Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global citrus fiber market size was valued at $390.6 million in 2020, and is projected to reach $659.2 million by 2030, registering a CAGR of 5.5%.
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Citrus fiber is made up of insoluble and soluble fiber components found in citrus fruits including oranges, lemons, and limes. It is a type of dietary fiber formed from the indigestible component of citrus fruits that generally goes through the human digestive system without being broken down or digested. These dietary fibers cannot be digested by human digestive system. This fiber helps in smooth bowel movement. There are numerous health benefits associated with consumption of citrus fibers that plays as an important factor in driving the global citrus fiber market growth. These fibers help to prevent certain diseases such as irritable bowel syndrome (IBS), heart disease, type 2 diabetes, high cholesterol levels, high blood sugar levels, and obesity.
The prominent citrus fibers industry players include AMC Group, Cargill Incorporated, Carolina Ingredients, CEAMSA, Citrus Extracts LLC, CP Kelco, DuPont de Nemours, Inc., Edge Ingredients, FGF Trapani, Fiberstar, Inc., Golden Health, Hebei Lemont Biotechnology Co., Ltd., Herbafood Ingredients GmbH, Ingredients by Nature, JRS Silvateam Ingredients S.r.l., Lucid Colloids Ltd., Nans Products, Naturex SA, Quadra Chemicals Ltd, and Royal DSM.
Growth in use of citrus fibers in various industries such as bakery, sauces & seasonings, desserts, ice creams, beverages, flavorings, and coatings, exponentially propels the growth of the citrus fiber market across the globe. Disease preventing properties of citrus fibers is paving way for its increasing use in daily meals of health oriented consumers. Citrus fibers are also used in pet foods. It has a high water holding capacity and emulsification capabilities, both of which are important in the production of high-quality pet food and treats including kibble, biscuits, and injection-molded bones.
The outbreak of the COVID-19 disease in 2020 hampered the dietary fibers market. Governments imposed strict lockdowns and bans on travel rules to curb spread of the virus. Manufacturing facilities were either partially or completely shut down and the citrus fibers industry faced shortage of labor.
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Furthermore, supply lines were affected as a result of travel restrictions. The citrus fibers industry, across the other side, acquired some traction following the relaxation of lockout limitations, and demand is likely to expand substantially in the future years. This is attributed to the fact that fiber-based food can help in fighting the COVID-19 virus as it is highly effective in building and boosting immunity.
According to the citrus fiber market analysis, the global citrus fiber market is segmented based on application, and source. On the basis of application, the market is categorized into bakery, sauces & seasonings, meat & egg replacement, desserts & ice-creams, beverages, flavorings, & coatings, snacks & meals, and others.
According to source, the citrus fiber market is fragmented into orange, tangerines/mandarins, grapefruit, lemon, lime, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Spain, Germany, France, Italy, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, and rest of LAMEA).
As per the citrus fiber market trends, based on application, bakery, is the dominating segment and is expected to remain dominant throughout the forecast period. The desserts & ice creams segment is anticipated to be the fastest- growing. On the basis of source, the orange segment is expected to be the fastest-growing, owing to the fact that it is popular because of its inherent sweetness, the range of varieties available, and the variety of uses.
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Region wise, North America was the largest citrus fiber market, owing to increased awareness among consumers, high disposable income, increased demand for functional food, and desire for healthy and active lifestyle among the population.
Key Findings of the Study
>By application, the bakery held the highest market share, accounting for 24.7% of the global citrus fiber market.
>By source, the orange segment held a major citrus fiber market share of 51.8%.
>Region wise, North America held a major share of 42.5%.
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