The fruit pomace market is predicted to reach a valuation of US$ 3.5 billion in 2023 and is estimated to rise to US$ 5.0 billion by 2033. The market is expected to record a CAGR of 3.5% during the forecast period.
The Fruit Pomace Market is witnessing robust growth due to its increasing adoption as a sustainable and cost-effective ingredient in various industries. With rising concerns about food waste and environmental sustainability, fruit pomace offers a valuable solution to utilize fruit residues efficiently. Its applications in animal feed, food products, and biofuel production are driving market expansion.
Growing consumer demand for natural, organic, and animal feeds drives market expansion. Fruit pomace extract is being added by food and beverage firms to create nutrient-dense and flavoured food products. With the use of fruit pomace, they create a number of bakeries, confectioneries, and sweet and savoury goods.
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Top companies selling premium and extremely standardized fruit pomace products in powder, paste, and liquid foams are driving the market expansion.
Market expansion is being driven by the rising popularity of nutrient-dense, plant-based vegan food. Market size was driven by fruit pomace kinds like tomato, apple, grapes, and orange. Due to its antioxidants, fibre, pectin nutrients, and minerals, fruit pomace is highly sought for. Leading businesses use fruit pomace to make inventive, nutritious snacks, desserts, and drinks.
Market share is increasing as consumers become more conscious of healthy lifestyles to manage weight, high blood pressure, and correct minerals. Owners of restaurants and bakeries increase the need for fruit pomace to add distinctive flavour and nutritious ingredients. Market participants will increase sales volume in the upcoming future through distribution channels and fruit pomace suppliers.
Key Takeaways:
- The fruit pomace marketis expected to reach a valuation of US$ 5.0 billion by 2033.
- With a CAGR of 3.5%, the global market is increasing during the forecast period.
- The market in the United States is anticipated to record a CAGR of 4.3% through 2033.
- With a CAGR of 3.1%, the Brazil fruit pomace marketsignificantly increase during the forecast period.
- Canada market is expected to record a CAGR of 4.9% over the forecast period.
- Poland market is expected to record a CAGR of 3.3% by 2033.
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Who is Winning?
The essential players fragment the global market by playing a crucial role during the forecast period. These players focus on providing healthy supplements and food items with their unique and innovative technologies. They meet consumers’ requirements by developing organic and standardized products.
Through online distribution, these players acquire maximum profits by capturing significant revenue. The market strategies adopted by these players are mergers, acquisitions, partnerships, collaborations, product launches, and agreements. Through these marketing tactics, these players upsurge the market to another height.
Other Prominent Players in the Market are:
- LaBudde Group, Inc.
- Lemon Concentrate S.L.
- Citrosuco S.A.
- Sucocitrico Cutrale Ltd
- Agrana Beteiligungs-AG
- Marshall Ingredients, LLC
- Polyphenolics Inc.
- Louis Dreyfus Company B.V.
- FruitSmart Inc.
- Pacific Coast Fruit Products Ltd.
- GreenField Sp. z o.o.
- Appol sp. z o.o.
- Whole Vine Products
- Yantai North Andre Juice Co. Ltd.
Recent Developments in the Fruit Pomace Market are:
- In November 2020, Louis Dreyfus Company Holdings B.V. announced an agreement to sell its 45% equity stake to Abu Dhabi-based Company ADQ.
- In October 2020, Universal Corporation announced its acquisition of FruitSmart without disclosing the amount.
- In October 2020, AGRANA started its production of fruit preparations in Japan.
- In June 2020, Louis Dreyfus announced its new launch LDC Innovations- their corporate venture capital program, to make a strategic plan which strengthens the company’s portfolio.
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