The global fruit pomace market is set to witness growth at a CAGR of 4.1% over the forecast period and might top a valuation of US$ 4.2 Bn by 2032. As of 2022, the fruit pomace market has a valuation of US$ 2.8 bn.
Fruit pomace has wider applicability in the food and beverage industry. It is used to add flavors or colors to different packaged food items or snacks, such as cookies, and to produce beverages, such as wine and alcohol. This increasing demand for unique taste profiles by millennials is predicted to boost market growth in the near future. The by-product of fruit processing is fruit pomace, a rich fiber source and an integral component of the human diet. Adding fruit pomace to various items can increase the levels of dietary fiber content and can enhance nutritional compositions like pectin, antioxidants, minerals, and carbohydrates.
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Additionally, fruit pomace is also being employed in animal feeds specifically because of its eco-friendly nature. Moreover, these play a sound role in maintaining the right ecological balance because of their ability to support sustainable solutions. Additionally, increasing consumption of organic products, coupled with the increasing vegan population, is expected to impact the fruit pomace market positively. This might increase the sales of fruit pomace during the forecast period.
However, one of the most important drivers for the fruit pomace market is the growing health-conscious population. The increase in the number of lifestyle diseases has made more and more people proactive as far as dealing with their health is concerned.
“Increasing cases of veganism, coupled with an increase in the demand for animal feed and plenty of other factors are expected to surge the demand for fruit pomace during the forecast period”, says a Future Market Insights analyst.
Key Takeaways
- The fruit pomace market has a valuation of US$ 2.8 bn as on 2022.
- By 2032, the fruit pomace market is expected to be valued at US$ 4.2 bn.
- The fruit pomace market is expected to progress at a CAGR of 4.1% during the forecast period.
- North America currently dominates the fruit pomace market with a share of nearly 41%.
- Europe is one of the most significant fruit pomace markets.
- Asia Pacific is expected to be the fastest growing market during the forecast period.
- By end use application, animal feed is expected to account for the maximum market value share of the global market by 2032 end
- Indirect channel is expected to account for a higher market share than direct channel by 2032 end
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Competitive Landscape
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to identify the interest of potential buyers and create a larger customer base.
Some of the recent developments are:
- In July 2022, Agrana presented at the BIOFACH Nuremberg the products ranging from palm oil-organic cocoa butter crunchies to vegetarian organic Leberkase.
- In April 2022, Louis Dreyfus successfully completed biofuel trial on first carbon neutral juice shipment.
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Key Companies Profiled
- Lemon Concentrate S.L.
- LaBudde Group, Inc.
- Citrosuco S.A.
- Sucocitrico Cutrale Ltd
- Agrana Beteiligungs-AG
- Marshall Ingredients, LLC
- Louis Dreyfus Company B.V.
- Polyphenolics Inc.
- FruitSmart Inc.
- Pacific Coast Fruit Products Ltd.
- GreenField Sp. z o.o.
- Appol sp. z o.o.
- Whole Vine Products
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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