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Citrus Fiber Market Is Expected To Exceed USD 500 Million By 2031

Citrus Fiber

A recent report by Fact.MR investigates that the citrus fiber market is expected to surpass US$ 500 Mn by 2031, growing at a healthy CAGR of nearly 6% for the forecast 2021-2031 forecast period. Growth is reliant on increased consumption of clean-label foods to maintain healthy lifestyles.

From 2016 to 2020, sales of citrus fibers expanded at a CAGR exceeding 4%, closing in at US$ 300 Mn. As the COVID-19 pandemic unfolded, a paradigm shift was observed in consumer eating habits, switching over to natural alternatives. This significantly heightened prospects for citrus fibers.

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Key Takeaway from the Market Study

Rising demand for natural ingredients and clean labels is spurring citrus fiber application across industries such as food and beverage industries and cosmetic industries. Niche feed and pet food applications are also expected to boost growth in the coming decade,” comments the Fact.MR analyst.

Key Segments

Competitive Landscape

Citrus fiber has mainly been used as a food additive in food and beverages, animal feed, pharmaceutical, and cosmetic applications. Emerging economies such as India, China, Indonesia, Germany and Brazil are experiencing lucrative growth in the food, pharmaceutical, and cosmetics industries.

Major players in the market are focusing on capacity and geographical expansion strategies in addition to collaborations with local players to bolster production and distribution operations in untapped markets.

Leading suppliers of 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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