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.
Consumer demand for natural, organic, and animal feeds is driving the industry’s growth. Fruit pomace extract is used by food and beverage firms to create nutrient-dense and tasty food items. Fruit pomace is used to make a variety of baked foods, confections, and sweet and savoury dishes.
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The market is being driven by top players supplying premium and highly standardised fruit pomace products in powder, paste, and liquid foams.
The market is being propelled forward by consumer demand for natural, organic, and animal feeds. Food and beverage industries use fruit pomace extract to create nutrient-dense and tasty foods. Fruit pomace is available in a wide range of bakeries, confectioneries, and sweet and savoury dishes.
Customers are becoming more aware of healthy lives in order to regulate their weight, high blood pressure, and the proper minerals, resulting in increased market share. Bakers and restaurant owners have a larger need for fruit pomace to add flavour and nutritional value to their products. According to market participants, fruit pomace providers and distribution networks will increase sales volume in the near future.
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.
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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