Citrus Fiber Market - Forecast(2023 - 2028)

Key Takeaways

• Geographically, the North American Citrus Fiber Market accounted for the highest revenue share in 2021. The growth is owing to high living standards, comfortable disposable incomes because of affluent economies, and health attentiveness among people.
• Mounting merger and acquisition activities, widescale usage in confectionery and bakery items, surging demand for dietary fibers, broadening disposable incomes, rising living standards of people in developing countries, a spike in the prevalence of life-threatening complications such as heart attack, cancer, diabetes, and growing old-age population are said to be pre-eminent drivers leading the growth of Citrus Fiber Market. Overwhelming inflation rates in the wake of fueling crude oil prices, intensifying unemployment, and environmental catastrophes are said to reduce the market growth.
• Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Citrus Fiber Market report.

Citrus Fiber Market Segment Analysis-By Type

The Citrus Fiber Market based on the type can be further segmented into Tangerines/Mandarins, Lemon, Orange, Lime, Grapefruit, and Others. The orange segment held the largest share in 2021. Orange is well-known for its vitamin C and rich soluble fiber nature which plays a substantial role when it comes to dropping cholesterol levels. The high amount of vitamin C in this citrus fruit promotes collagen production which is an essential protein for skin health. In addition to that, orange has drawn an immense attention following among consumers because of its low caloric nature, ample varieties, and tangy flavor benefits. Oranges are of utmost usefulness in reducing the risk of developing cancer and maintaining stable blood pressure. Nevertheless, grapefruit is estimated to be the fastest-growing segment with a CAGR of 6.5% over the forecast period 2022-2027. Even though the orange is the most desired but moderate consumption of grapefruit could prove to be quite a health-friendly choice as the citrus fruit grapefruit contains the highest number of antioxidants that inhibit tumor cells. Moreover, it promotes weight loss and overhauls prostate cell DNA.

Citrus Fiber Market Segment Analysis-By Application

The Citrus Fiber Market based on the application can be further segmented into Personal care, Animal feed, Meat replacement, Confectionery and Bakery, Seasonings and Sauces, Beverages, and Others. The confectionery and bakery segment held the largest share in 2021. In baker confections, citrus fibers act as a water binding agent and uphold the freshness of products over time by binding a large amount of water and oil and not releasing it over time. Citrus fibers are commonly taken into account as moisture management tools or emulsifiers to bring value to food products. Furthermore, the food and beverage segment is estimated to be the fastest-growing with a CAGR of 6.2% over the forecast period 2022-2027. This growth is owing to the rising popularity of sweets, desserts, and other confectionery items such as chocolate worldwide. In addition to that, the growing demand for nutrients rich health options like bread has fueled the market.

Citrus Fiber Market Segment Analysis-By Geography

The Citrus Fiber Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 35% of the overall market in 2021. The growth in this segment is owing to the factors such as high health awareness among people, quality lifestyles, widescale obesity, and augmenting demand for food and beverages which are fortified. Also, the majority of the population in North American countries lives in urban centers and enjoys high disposable incomes which is another crucial factor aiding the market in the said region. However, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to the gigantic population, rising middle-class, the proliferating geriatric population in Japan and China, growing demand for confectionery and bakery items as disposable income levels are on the rise, and rapid migration of people from rural areas to metropolitan cities in search of employment are the factors propelling the market growth.

Citrus Fiber Market Drivers

The incidences of gastrointestinal infections have experienced a steep rise following the covid-19 outbreak. According to a study conducted on SARS-CoV-2 patients, nearly 11.4 percent were found to have GI complications. Additionally, diabetes has emerged as a severe headache as it affects the daily lifestyles of patients. According to International Diabetes Federation, nearly 537 million grownups aging between 20 and 78 years had diabetes in 2021 and by the year 2030, the figure is projected to touch 643 million. These all are diagnosed cases; the study reveals that a major chunk of cases remains undiagnosed. Even though the doctors don’t know the exact cause behind this disease but several studies have linked it directly to obesity and sedentary habits. A report claimed that around 36 percent of US adults are reeling under the weight of problems posed by their overweight. Nevertheless, rapid modernization in developing countries is likely to worsen the situation.

The rural area may be a perfect destination for idyll and hassle-free lives but owing to lack of industrialization they don’t provide adequate platforms or opportunities to earn a living. Consequently, migration has emerged as a major phenomenon. For instance, India’s urban population was recorded at around 481 million (34.9 percent of the total population) in 2021 and the figure is projected to reach 814 million by 2050. Similarly, overall 64 percent of the African population is anticipated to turn urban by 2050; whereas, the total urban population of the world is said to reach the 6.3 billion mark. With growing urbanization, employment rates are growing. Similarly, as people are getting plenty of opportunities to make a living, the disposable income levels in developing nations are improving.

Citrus Fiber Market Challenges

The final products (in this case fiber citrus) have nothing to do with environmental calamities but their primary ingredient, fruit, their yield is totally dependent on climate. Sheer deforestation, augmented intensity and frequency of cyclones, global warming, plunging organic content in the soil, and lessening fertility are likely to pose challenges in foreseeable future. Shifting seasons, floods because of enlarging precipitation, and melting of glaciers are the outputs of rising global temperatures. For instance, last year in March the temperature in Antarctica was hovering at around -45 degrees Celsius; however, the temperature has gone up by 38 degrees as scientists at Concordia Research Station on March 18 recorded a temperature of -11.5 degrees Celsius. This is the sort of calamity Antarctica is battling. Moreover, growing inflation rates and unemployment are likely to hamper the steady growth of the aforementioned market.

Citrus Fiber Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Citrus Fiber market top 10 companies include-

1. Carlina Ingredients
2. DuPont de Nemours Inc.
3. Cargill Inc.
4. Citrus Extracts LLC.
5. Herbafood Ingredients GmbH
6. Edge Ingredients
7. CP Kelco Inc.
8. Fiberstar Inc.
9. Naturex SA
10. Royal DSM

Recent Developments/Product Launches:

• On October 19, 2021, Heerlen, Netherlands-based multinational company “Koninklijke DSM”, also known as “Royal DSM” announced the successful acquisition of Wisconsin, United States-based food products supplier “First Choice Ingredients.” A payment of $453 million was paid by DSM in order to bring the acquisition to a close.
• On September 23, 2021, River Falls, Wisconsin-based Fiberstar Inc (a biotechnology company renowned for its citrus fiber “Citri-Fi”) announced that the company has reached a partnership with US-based wholesale distributors “Gillco Ingredients” and “Accurate Ingredients.” The move is aimed at expanding the market in the US through deep penetration.
• On September 10, 2021, CP Kelco (a Georgia, United States-based known for its hydrocolloid services/citrus fibers) announced an investment worth $50 million to build 2nd citrus fiber production facility in Matao, Brazil-based. The investment is solely aimed at expanding citrus fibers' production capacity to curtail the soaring demand for dietary fibers.

Relevant Links:

Citrus Flavours Market-Forecast (2021-2026)

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Organic Food & Beverages Market – Forecast (2022 - 2027)

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Food Flavors Market - Forecast(2022 - 2027)

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