What is a Sugar Beet Pectin?
Sugar beet pectin is a type of natural gelling agent that is extracted from sugar beet pulp. Sugar beet pectin also known as beta pectin is mostly used as an emulsifier in food preparations. The sugar beet pulp is a byproduct of the sugar-refining industry that is widely used as an animal feed due to its low cost. In today’s time, pectin is highly utilized as a gelling agent in confectionery, jams, and many bakery fillings. Further, the surging demand for sugar beet pectin will create significant opportunities for the market.
Why is sugar beet pectin important?
Sugar beet pectin is an important ingredient for food products because it helps to keep the consistency of the product, prevents it from becoming jello-like, and enhances the flavor. Sugar beet pectin can also be used as a thickening agent in dairy products like yogurt and ice cream.
Sugar Beet Pectin Market Growth Drivers
The growing popularity of low-calorie and low-carbohydrate foods is expected to drive the market growth. The increasing application of sugar beet pectin in food & beverage products such as alcoholic & nonalcoholic beverages, bakery & confectionery items, frozen desserts, and pet foods is also contributing to the market growth.
Other key drivers of the sugar beet pectin market include increasing demand from the pharmaceutical and biotechnology industries owing to their applications in drug formulation and biomedical devices, expanding application spectrum of sugar beet pectin in food processing due to its non-GMO status, and increasing preference for natural ingredients in food products.
However, some key challenges that the market is facing include limited availability of sugar beet pectin, high cost of sugar beet pectin, and regulatory complexities.
North America Sugar Beet Pectin Market Analysis
The sugar beet pectin market in North America is expected to grow at a CAGR of 7.1% during the forecast period 2022-2030. The high demand for sugar beets owing to their health benefits and rising popularity of low-carbohydrate diets is fueling the growth of this market. Moreover, the increasing awareness about the benefits of sugar beet pectin as a food additive is also contributing to the growth of this market.
Some of the key products offered by these companies are beet sugar pectin, carrot sugar pectin, apple cider vinegar concentrate, grape juice concentrate, and blackberry juice concentrate.
Keyplayers in Sugar Beet Pectin Market
Some key Players in the sugar beet pectin market include Dupont Incorporated, Cargill Incorporated, Royal DSM, Herbstreith and Fox Corporate Group, Ingredion Incorporated. These companies are involved in manufacturing, exporting, and supplying sugar beet pectin globally.
Apart from these key players, there are other small and medium enterprises (SMEs) that are also engaged in the sugar beet pectin market. These companies offer customized solutions to meet the needs of customers.
Estimated Sugar Beet Pectin market forecast and market projections up to 2030.
The sugar beet pectin market is projected to grow at a CAGR of ~6% over the next five years. This growth is due to increasing demand for sugar beets and the resultant production of pectin.
This report analyses the current state of the sugar beet pectin market, evaluates key factors that are driving this market, and provides forecast figures for 2022-2030. The report also covers the major players in this market and their respective share in terms of revenue.
