Citrus Fiber Market: Future Forecast Indicates Impressive Growth Rate by 2028
This report provides prognosis and analysis of the global Citrus Fiber Market. It offers historical data along with forecast data for 2028.
[USPRwire, Wed Jan 02 2019] Tier I Companies Dominate the Citrus Fiber Market with around 60% Revenue Share: Vertically integrated companies in the citrus fiber market are gaining momentum with additional citrus fiber sales bandwidth and strong networks of distributors spread across the globe. Market leaders, such as Fiberstar Inc. and DuPont, are employing their patented procedures to offer higher emulsification and water-binding properties of citrus fiber and leveraging them to scale up in the citrus fiber market.
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Large-scale citrus fiber manufacturing companies are streamlining their product innovation strategies by investing heavily in R&D and strengthening their association with research institutions. A solid pipeline of active chemistry and manufacturing technologies is enabling market leaders to introduce citrus fiber products with higher nutritional and savory properties, and ultimately gain a competitive edge in the citrus fiber market.
North America and Europe Continue to Remain the Most Lucrative Markets for Citrus Fiber
Despite a steady decline in citrus production and utilization in developed regions, citrus fiber markets in North America and European Union continue to witness exponential growth. A plethora of American and European food & beverage companies with product lines suitable for citrus fiber have generated more business for citrus fiber manufacturers in these regions.
Also, citrus fibers meet the U.S. Food and Drug Administration’s (FDA) new definition of dietary fibers, which is making American consumers more aware about the safety and benefits of consuming food products manufactured using citrus fibers. Growing health awareness among consumers and demand for food products with natural ingredients, such as citrus fiber, is boosting the growth of the citrus fiber markets in developed regions.
Additionally, natural food ingredients markets making rapid strides in Europe is funneling innovative ideas in local manufacturers to extract citrus fiber from organic waste generated during citrus fruit productions to envisage profitable growth in the upcoming years.
Clean Label Movement and Regulations Prohibiting the Use of Artificial Food Ingredients Boost Market Growth
Stringent laws and regulations, such as the Food Safety Modernization Act (FSMA), commissioned by governing organization such as the FDA and the United States Department of Agriculture (USDA) are making a major impact on demand and applications of various food ingredients. Due to restrictions on the applications of specialty ingredients that pose health risks, food ingredients such as carrageenan, phosphates, and titanium dioxide, have been added to the list of unacceptable food ingredients.
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Manufacturers in the citrus fiber market are aiming to capitalize on the opportunity to market citrus fiber as a healthy and ‘cleaner’ alternative to harmful ingredients, especially carrageenan, in various food products. As stringent regulations are bolstering the influence of clean label movement on consumers’ purchasing decisions, the applications of citrus fiber in the food industry are likely to proliferate in the coming future.
Growing Popularity of Citrus Fiber as a Fat Replacement Ingredient Augments its Adoption
Increasing trend of healthy-eating is reflecting in the growing popularity of low-fat and low-calorie food products. This is contributing to the increasing demand for natural food ingredients, such as citrus fiber, which can act as a naturally replace fat in foods. Manufacturers in the citrus fiber market are promoting the benefits of citrus fiber in activating proteins in a variety of food products, including meat, dairy, and bakery products, to improve sales. The mounting number of label- and health-conscious consumers is steering food manufacturers into replacing fats with citrus fiber.
Also, apart from using citrus fiber for reducing fat contents, citrus fiber market players are encouraging its adoption for replacing expensive food ingredients such as gums, dairy, and eggs, to reduce overall cost of the end-product. Owing to its fat-reducing and water-binding properties, citrus fiber is witnessing rising demand in the food & beverage space, thereby manufacturers in the citrus fiber market are gaining considerable traction.
Manufacturers Aim to Capture Lucrative Opportunities across Wide-ranging Industrial Sectors
Apart from the food & beverage industry, citrus fiber finds versatile applications in other industrial sectors, such as personal care & cosmetics and pharmaceuticals, as citrus fruits are a rich source of minerals and vitamins. Growing awareness among consumers about the hazardous effects of chemicals in personal care products is bolstering the demand for personal care products and cosmetics with natural ingredients. Manufacturers in the citrus fiber market are modifying their manufacturing and marketing strategies to bring out skin and hair health benefitting properties of citrus fiber, in order to capture untapped opportunities in the personal care & cosmetics and pharmaceuticals industries.
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