Fruit Pomace Market size is estimated at $3.2 billion in 2020, projected to grow at a CAGR of 6.8% during the forecast period 2021-2026. Fruit pomace, which is created during the processing of fruits, is a good source of fibre and an important part of the human diet. Fruit pomace can boost dietary fibre content as well as other nutritional components like minerals, carbohydrates, pectin, and antioxidants when included in food preparation. Fruit pomace can be utilised in processed meals for human consumption, food flavorings for animal feedstuffs, and compost processing. Regulatory organisations are also taking preventative measures to reduce carbohydrate emissions, which is what sparks the numerous ideas of using Fruit Pomace in various applications due to its antioxidant’s properties. The increased need for fruit pomace in animal feed for livestock, as well as the growing trend of consumers preferring natural and organic foods over conventional foods, are expected to create new opportunities in the Fruit Pomace industry. Antioxidant fruit aids in the production of Pomace, a dry or pulpy residue used in the extraction of liquid or oil from fruits or seeds. Consumers have begun to spend exorbitantly on food products manufactured from health-beneficial substances, therefore the onset of COVID-19 is predicted to modestly raise demand for Fruit Pomace market.
Fruit Pomace Market Segment Analysis – By Application:
Based on Application, Dairy Products Fruit Pomace Segment accounted for the largest revenue market share in 2020 owing to the increasing necessity of breeding and frequent restocking for raising cattle productivity levels. Fruit pomace is increasingly used in dairy products, food flavourings due to its multiple health benefits. As a result, Fruit Pomace is utilised in a wide range of culinary products aimed at the health-conscious consumer as it contains antioxidants driving the segment growth. Food Processing Fruit Pomace segment is anticipated to grow with the fastest CAGR of 7.6% in the forecast period 2021-2026. This is attributed to the reason that fruit pomace is widely used in the food processing industry rather than being discarded as waste. For example, in the manufacturing of wine, employing fruit pomace such as grape and apple seed oil not only benefits numerous beverage businesses, but it also aids in the prevention of environmental contamination that could be produced by the disposal of grape seeds.
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Fruit Pomace Market Segment Analysis – By Distribution Channel:
Based on Distribution Channel, Online accounted for the largest revenue market share in 2020. This is owing towards ease of availability of a wide selection of products in various forms and uses as in various food flavourings ingredient given by all brands at reasonable discounts. The growing number of smartphone and internet users is the primary driver of sector growth. These businesses give cash back and home delivery services, which contribute to the market's growth. Customers frequently purchase Fruit Pomace with antioxidants properties form source such as Apple, Citrus, Banana, Berries, Grape, and Mango from online websites in order to save time due to the increasingly hectic lifestyle. Furthermore, the online retail segment is expected to account for the largest share of the market, owing to the fact that online retailing offers more discounts and purchase options, and the online platform has grown in popularity as a result of its ability to deliver products to customers' doorsteps. Major corporations, such as Big Basket, are collaborating with internet shops to broaden their customer base. They also create their online portals and websites to promote the growth of the market in order to increase product sales, providing potential for the Fruit Pomace Industry to flourish. Offline is projected to witness the fastest CAGR of 7.9% during the forecast period 2021-2026 as it provides the convenience and variety of options that consumer seeks. Specialty merchants are launching several varieties of Fruit Pomace, such as Blanched Fruit Pomace, which contains antioxidants and healthy components, such as vitamin B1, to tempt customers, hence enhancing the market's growth.
Fruit Pomace Market Segment Analysis – By Geography:
Based on Geography, North America Fruit Pomace Market accounted for the 40% revenue share in 2020. The increased prevalence of chronic diseases, combined with customers' willingness to spend, has made improved healthcare options more readily available. Furthermore, use of food flavorings fruit puree in various application accelerates Fruit Pomace Market growth. Many internationally renowned beverage manufacturers, such as PepsiCo and Coca-Cola, are headquartered in the country further supporting the market growth. The growing obesity crisis in the United States and Mexico, as well as government-imposed sugar taxes, are serving as both restrictions and drivers for CSDs and goods made with low-calorie non-nutritive sweeteners drives the industry expansion. Forwarding incorporation is being used by manufacturers in this country to increase their involvement in the value chain. A new trend in this sector is expected to be the combination of processes from inbound logistics to after-sales services. This is expected to result in higher-quality and lower-cost finished goods that deliver optimal output and lifetime value, making it a big potential market for Fruit Pomace producers. Asia-Pacific is predicted to be the fastest growing region during the forecast period 2021- 2026 owing to increased antioxidants fruit products demand over the projection period which propel the Fruit Pomace Market.
Fruit Pomace Market Drivers
Growing Regulatory Approvals:
The growing number of regulatory approvals has had the greatest impact on overall Fruit Pomace market growth. The US Food and Drug Administration (FDA) permitted the use of a few qualifying health claims in June 2019. (QHC). For instance, Doehler North America Inc. purchased a majority stake in Zumos Catalano Aragoneses S.A. in April 2019. This acquisition will widen the company's product line and provide clients with a more diverse offering choose Fruit Pomace to a large extent, driving the market growth. Consumers growing health concerns, particularly in North America and Europe, have resulted in a trend toward safer, healthier, and higher-quality food flavorings with antioxidants Fruit Pomace products aiding growth to the market development. Acquisition and growth are significant tactics for companies active in production and supply activities to create more space for themselves in the Fruit Pomace market. Swisse, a health and wellness giant, plans to launch dietary supplements and skincare products in June 2020 that utilise upcycled grape seed extract generated from Australia's wine-making sector, assisting the Fruit Pomace Industry's expansion.
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Fruit Pomace Market Challenges
Stringent Government Regulations:
The Fruit Pomace Market's growth is hampered by the stringent government regulations globally. In most nations including North America and Europe, legislation has been enacted to safeguard food items against deterioration and contamination caused by poor manufacturing and refrigerated storage practices. As a result, each country has chosen agencies to check consumer health issues due to high carbohydrates content as well as the types of materials and procedures used in food and beverage operations to determine whether they are regarded safe which further restrains the Fruit Pomace Market growth.
Fruit Pomace Market Landscape:
The Fruit Pomace Market's main strategies include product launches, mergers and acquisitions, joint ventures, and regional expansion. Fruit Pomace Market top 10 companies are Doehler, Lemon Concentrate S.L., Citrosuco S.A., LaBuddhe Group Inc., AGRANA Beteiligungs-AG, Louis Dreyfus Company B.V., Yantai North Andre Juice Co. Ltd., Sucocitrico Cutrale Ltd and Constellation Brands, Inc.
Acquisitions/Product Launches:
In April 2019, Zumos Catalano Aragoneses, a Spanish fruit processor, was acquired by Doehler. The Döhler Group's large product portfolio and significant industry knowledge, along with Zucasa's substantial expertise and capacity to supply fruit and vegetable juices, purées, and concentrates for food and beverages, developed unusual synergistic effects.
Key Takeaways
Fruit Pomace industry's expansion is being driven by increased antioxidants product demand for non-carbonated owing to the increasing demand for gluten-free, clean, low-calorie, and low-carbon drinks.
Geographically, North America Fruit Pomace Market held the largest revenue share of 40% in 2020 to higher production of Fruit Pomace in the region. The scope of the Fruit Pomace Market for various regions will be provided in the final report.
The Fruit Pomace Industry is expanding owing to emerging applications of bakery and confectionery in food and beverage industry.
The market's growth will also be fuelled by ongoing research and advancements in end use is pushing the Fruit Pomace industry forward during the forecast period 2021-2026.
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