Citrus Fiber Market to Gather $659.2 Million by 2030 at CAGR of 5.5%: Report by Allied Market Research
The growth of the global citrus fiber market can be attributed to an increase in demand for fiber supplements due to the health benefits of citrus fibers.
Wilmington, Delaware, Oct. 26, 2023 (GLOBE NEWSWIRE) — Recently, Allied Market Research published a report, “Citrus Fiber Market by Application (Bakery, Sauces & Seasonings, Meat & Egg Replacement, Desserts & Ice-Creams, Beverages, Flavorings, & Coatings, Snacks & Meals, and Others), Type (Orange, Tangerines/Mandarins, Grapefruit, Lemon, Lime, And Others): Global Opportunity Analysis and Industry Forecast, 2021–2030“. As per the report, the global citrus fiber market is anticipated to garner $659.2 million by 2030. The market accounted for $390.6 million in 2020 and will register a CAGR of 5.5% during the 2021-2030 period.
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Important growth drivers and opportunities
The global citrus fiber market is predicted to witness substantial growth in the coming period on account of rise in demand for fiber supplements due to different health benefits associated with citrus fibers. On the contrary, side effects associated with excessive consumption of fiber may restrict the growth of the market. Nonetheless, growing adoption of plant-based foods, along with soaring demand from developing countries are anticipated to open up new growth opportunities in the market.
Report Coverage & Details:
|Market Size in 2022||$390.6 million|
|Market Size in 2032||$659.2 million|
|No. of Pages in Report||253|
|Segments covered||Type, Application and Region|
The bakery segment held the highest market share in 2020
By application, the bakery segment held the highest market share in 2020 and is expected to continue on its growth trajectory during the analysis timeframe. The addition of citrus fibers in baked goods has several advantages such as moisture retention, oil or fat reduction, and increased shelf-life. These advantages have increased the popularity of citrus fibers in bakery segment. On the other hand, the beverages flavorings and coatings segment is expected to grow with the highest CAGR of 5.9% by 2030. The report also studies the sauces and seasoning, meat and egg replacement, desserts and ice-creams, and snacks and meals segments.
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The orange segment to dominate by 2030
By product type, the orange segment was the most dominant in 2020 and is expected to continue on its growth journey during the 2021-2030 period. The low-calorie and high-nutrient content, along with presence of antioxidants to reduce inflammation has led to widespread popularity of oranges. This growth in popularity may translate into the strengthening of the sub-segment. The grapefruit segment, on the other hand, is anticipated to have the fastest CAGR of 6.5% by 2030. The presence of vitamins and minerals which prevent infection have led to a rise in popularity of grapefruits and thus expanded the scope of this sub-segment. The report also includes a study of tangerines/mandarins, lemons, and lime segments.
North America to offer numerous growth opportunities
By region, the North America citrus fiber market held a dominant position in 2020 and is expected to be highly profitable in the forecast period also. Growing demand for fortified foods & beverages in different countries of North America is the primary growth driver of the market in this region. On the other hand, the Asia-Pacific citrus fiber market is expected to grow at the fastest CAGR of 6.3% during the analysis timeframe. Widespread production of sources of citrus fibers in various countries of this region is predicted to increase the foothold of the market in the region.
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Major Companies of the Market
- Cargill Incorporated
- DuPont de Nemours, Inc.
- Golden Health
- JRS Silvateam Ingredients S.r.l.
- AMC Group
- Naturex SA
- CP Kelco
- FGF Trapani
- Herbafood Ingredients GmbH
- Ingredients by Nature
- Quadra Chemicals Ltd
- Carolina Ingredients
- Edge Ingredients
- Fiberstar, Inc.
- Lucid Colloids Ltd.
- Hebei Lemont Biotechnology Co., Ltd.
- Nans Products
- Citrus Extracts LLC
- Royal DSM
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