The citrus fiber market revenue totaled US$ 110.0 Million in 2021, according to Future Market Insights. Exhibiting a CAGR of 5.2% for 2021-31, the citrus fiber market is expected to reach US$ 184.9 Million by 2031.
Amid soaring competition, the top five players, comprising CP Kelco, Fiberstar Inc, CEAMSA, Herbafoods Ingredients GmbH, Florida Food Products Inc., and Lemont are expected to account for 41% of citrus fiber market in 2021.
Citrus fiber is often regarded as a neutral-tasting food additive that can extend the shelf life of food products. Under FDA regulations, prohibited food additives including hydrocolloids, phosphates, carrageenan, and others can be successfully replaced by citrus fiber components.
To appeal to the world’s rising health-conscious consumer base, food manufacturers are proactively working on adding citrus fiber ingredients in the production of fat-free edibles.
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In recent years, the demand for dietary fiber has grown significantly. Citrus fruits have received increasing attention from several dietary fiber manufacturers from fruit source. Citrus fruits such as orange, grapefruit, lemon and tangerines/ mandarins are rich sources of dietary fibers with a well-balanced proportion of soluble and insoluble fibers.
Key Takeaways from the Citrus Fiber Market Study
- Food grade citrus fiber will account for 59.6% of the market in 2021, largely driven by applications as additive in the processed food industry.
- Personal care applications will grow at above 8% CAGR aided by clean label trends sweeping the industry.
- Germany will hold the lead in the Europe market, accounting for over 18% of the value share in 2021, with the growth in the local feed industry.
- The U.S. will hold over 90% of the North America market in 2021, supported by the presence of a matured food processing sector.
- China, driven by a large consumer base, will account for over 55% of the East Asia market through the end of 2031.
Who is Winning?
Citrus fiber is primarily consumed as a functional ingredient in food and beverages, animal feed, pharmaceutical, and cosmetic industries. Emerging countries such as India, China, Indonesia, and Brazil are showing lucrative growth in food, pharma, and cosmetics applications.
Major players in the market are focusing on capacity and geographical expansion strategies in addition to collaborations with local players to bolsters production and distribution operations in untapped markets.
Some of the leading companies offering citrus fiber are Fiberstar, Inc., CEAMSA, CP Kelco, Inc., Herbafoods Ingredients GmbH, Florida Food Products, Inc., Lemont, Golden Health, FUYAN PHARM (Henan), Inc., Nans Products, and Cifal Herbal Private Ltd., among others.
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Citrus Fiber Market by Category
- Food Grade
- Pharmaceutical Grade
- Cosmetic Grade
- Lemons and Lime
- Desserts and Ice-cream
- Sauces & Seasonings
- Meat & Egg Replacement
- Flavorings & Coatings
- Snacks & Meals
- Personal Care
- Other Application
- Water Binder & Fat Replacer
- Thickening Gums
- Gelling Gums
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
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Key Questions Answered in the Report
- What is citrus fiber market size?
The overall citrus fiber market is projected to surpass US$ 111 Mn in 2021.
- At what rate did the citrus fiber market grow in the last five years?
Demand in the citrus fiber market increased at 4.3% CAGR between 2016 and 2020.
- What are the key trends shaping the citrus fiber market?
Market players are likely to focus on exploring potential new applications for previously untapped revenue streams.
- What is the share of the leading citrus fiber companies?
Leading citrus fiber companies include CP Kelco, Fiberstar Inc, CEAMSA, Herbafoods Ingredients GmbH, Florida Food Products Inc., and Lemont, who cumulatively account for 41% of the market.
- At what rate will the demand rise in the Europe citrus fiber market?
The Europe citrus fiber market is expected to rise at a CAGR of 4.1% between 2021 and 2031.
- Which are the top five countries driving citrus fiber market demand?
Leading countries driving demand in the citrus fiber market are the U.S., Germany, China, France, and the U.K.
Information Source: https://www.futuremarketinsights.com/reports/citrus-fiber-market