Citrus fibers are extremely healthy, thanks to vast nutritional benefits per unit. As awareness regarding the same catches on with the new-age millennial populace, demand for the citrus fiber grows steadily. Besides, it is significant to note here that the fibers are of great help in preventing breast cancer and easing bowel movements. Their pleasant taste and odor contribute to the growing demand. Additionally, the functional clean label trend is also adding to this growth in the market.
It is quite pertinent to note here that these are used extensively in food and beverages industry. And, the food grade segment is set to dominate the global citrus fiber market over the next few years. It helps in thickening, stabilizing, and gelling of food items. Besides, these are used in substituting eggs, starch, and oil. Besides, these are also used in pharmaceutical industry, personal care industry for reasons of health benefits and beauty (rich in antioxidants) benefits.
As per Transparency Market Research, the global citrus fiber market is anticipated to record a growth rate of 4.6% from 2017 to 2022. This will lead to generation of opportunities worth USD 382.3 million. A major driver of growth here is a massive and paradigm shift towards natural and organic products.
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Region-wise, North America would be a prominent market owing to high awareness regarding benefits of citrus and extensive use in bakery and meat products. Additionally, known players mark the regional landscape. On the other hand, it is significant to note here that APEJ or Asia Pacific Excluding Japan will also be a notable market. It will witness a respectable growth rate.
Renowned players operating in the global citrus fiber market include the likes of Ceamsa, Fiberstar, Inc., Quadra Chemicals Ltd., Cargill, Inc., and Florida Food Products. The market is fragmented as well as competitive. Players are focused on research and development and innovation.