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.
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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.
The industry’s expansion is being driven by consumer demand for natural, organic, and animal feeds. Food and beverage companies employ fruit pomace extract to generate nutrient-dense and tasty foods. Fruit pomace is used in the preparation of a wide range of baked goods, confections, and sweet and savoury dishes.
Customers are becoming more cognizant of healthy lifestyles to control their weight, high blood pressure, and the right minerals, which is rising market share. Bakers and restaurant proprietors have a greater need for fruit pomace to provide flavour and nutritional value. Fruit pomace providers and distribution networks will expand sales volume in the near future, according to market players.
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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