This study aimed the utilization of fig stalk waste as an alternative pectin source. For this purpose, the characteristics of extracted stalk waste pectin (SP) were compared with those of citrus pectin (CP) and pectin extracted from defected substandard whole sun-dried figs (FP). The SP had a higher extraction yield (11.7%) than FP (9.4%). The galacturonic acid content and degree of esterification of SP (32.3 and 50.1%) were higher than those of FP (19.9 and 38.8%), but lower than those of CP (79.3 and 56.2%), respectively. The SP and CP had different sugar compositions (d-glucose, l-rhamnose, d-galactose and l-arabinose) and weight average molecular weights, but similar FTIR profiles. The SP showed almost 1.9 and 1.6-fold higher Trolox equivalent antioxidant capacity (TEAC), and 2.7 and 2.0-fold higher water absorption capacity than CP and FP, respectively. SP at 3% (w/w) showed the second highest viscosity after CP and the highest emulsion stability. Gels of SP and CP at 1.75–3% range had similar firmness, but SP formed more fracturable gels than CP. Sun-dried fig stalk waste is a better source of pectin than defected substandard whole sun-dried figs. The SP could be utilized to develop functional food with alternative textural and rheological properties.