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 rising demand for organic, natural, and animal feeds propels market growth. Food & beverage manufacturers are developing nutritional and flavored food products by adding fruit pomace extract. They develop several bakeries, confectionery, and sweet and savory products with the adoption of fruit pomace.
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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 fueled by the rising acceptance of vegan cuisine based on plants and nutrient-dense foods. The types of fruit pomace, including tomato, apple, grapes, and orange, propelled the market size. The fruit pomace demand is rapidly growing due to its antioxidants, fiber, pectin nutrients, and minerals. Leading businesses use fruit pomace to develop new, healthful snacks, desserts, and beverages.
Consumers growing awareness of healthy lifestyles to maintain weight, high blood pressure, and proper minerals are advancing the market share. Food and bakery owners raise fruit pomace demand for adding unique taste, flavor, and healthy nutrients. Through the distribution channels and fruit pomace suppliers, the market players increasing the sales volume in the coming period.
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.
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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.
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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