Citrus fibre valued at $92-million in 2018, bakery industry driving growth
Despite a steady decline in citrus production and utilization in developed regions, citrus fibre markets in North America and European Union continue to witness exponential growth.
A new Fact.MR study on the citrus fibre market finds that the market grew at a healthy 4.3% y-o-y over 2017 to surpass $92-million by the end of 2018. The study underscores how the health and wellness trend and the clean label movement are bolstering the influence of health-conscious consumers on growing adoption of citrus fibre in packaged food products.
“Citrus fibre is gaining popularity as a natural specialty food ingredient, which is commonly used as an emulsifier and water-binding agent in various food products such as bakery, meat and dairy products, beverages, sauces and seasonings, and desserts. As modern consumers are becoming highly scrupulous about ingredients of packaged food products before making a purchase, a burgeoning number of food manufacturers are replacing fats and artificial ingredients with citrus fibre,” says a lead analyst at Fact.MR.
The positive growth parameters of the citrus fibre market are mainly attributed to a number of lucrative trends, such as:
· Growing adoption of insoluble dietary fibre in a wide range of food products.
· Citrus fibre manufacturers introducing innovative product portfolios to suit different food applications.
· Favourable regulatory framework by governing organization complementing adoption of citrus fibre to replace artificial food ingredients.
· Clean label movement supporting the use of citrus fibre as stabilizer and emulsifier in beverages.
· Citrus fibre market players putting efforts into capturing untapped opportunities in the rapidly-growing pharmaceuticals industry.
Bakery products – the largest application segment in the citrus fibre market
Citrus fibre products find multi-fold applications in the food and beverage industry, as they benefit various food and beverage products through nutritional improvements and textural enhancements. The Fact.MR study reveals that bakery is the largest application of citrus fibre in the food and beverage industry, as the adoption of citrus fibre in bakery products has increased significantly over the past few years.
Bakery product manufacturers are adopting citrus fibre to replace egg or oil, as citrus fibre provides natural emulsification and better functionality to bakery products. Additionally, cost-saving benefits of using citrus fibre are further expanding the scope of the bakery applications of citrus fibre, thereby mushrooming the growth of the citrus fibre market in the bakery product industry.