What Is The Scope Of The Global Fruit Pomace Market?
Fruit pomace refers to the solid residue that remains after the juice or oil has been extracted from fruits. This byproduct consists of the skins, seeds, and pulp of the fruit. Pomace is rich in dietary fiber, antioxidants, and various bioactive compounds, making it a valuable resource for food processing, animal feed, and the production of functional ingredients.
Fruit Pomace Global Market Report 2024 provides data on the global fruit pomace market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The fruit pomace market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Fruit Pomace ?
The fruit pomace market has grown strongly in recent years. It is anticipated to increase from $3.32 billion in 2023 to $3.51 billion in 2024, with a CAGR of 5.9%. This growth is due to rising disposable incomes, adoption of sustainable agricultural practices, quality assurance programs, investments in agricultural research, and consumer loyalty programs. The market is expected to grow to $4.44 billion by 2028 at a CAGR of 6.0%. The factors driving this growth include demand for plant-based beverages, development of biodegradable packaging, interest in homemade products, growth of the cosmetics industry, awareness of dietary fiber benefits, and efforts to reduce sugar content. Key trends include technological advancements in processing, AI-driven analytics, blockchain technology, smart packaging innovations, and the integration of IoT in supply chains.
What Are The Leading Drivers Of Growth In The Fruit Pomace Market?
The fruit pomace market is expanding due to the popularity of plant-based foods. These foods appeal to consumers focused on health, sustainability, and environmental benefits. Fruit pomace adds nutritional value and supports sustainable food production. Good Food Institute Europe reported in 2023 that UK plant-based food sales rose by 9% between 2020 and 2022, reaching $1.2 billion, underlining the increasing role of plant-based diets in driving the fruit pomace market.
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How Are The Segments Defined Within The Global Fruit Pomace Market?
The fruit pomace market covered in this report is segmented –
1) By Product: Powder, Pellets, Other Products
2) By Source: Apple, Citrus, Banana, Berries, Grape, Mango, Other Sources
3) By Nature: Organic, Conventional
4) By Application: Dairy Products, Food Processing, Edible Oils and Fats, Animal Feed, Biofuel Production, Cosmetic and Personal Care, Pectin Production, Other Applications
5) By Distribution Channel: Offline, Online
How Are New Trends Expected To Influence The Growth Of The Fruit Pomace Market?
In the fruit pomace market, companies are focusing on eco-friendly solutions like fruit pomace-based packaging to provide sustainable alternatives to traditional materials. These packaging options are made from by-products like pulp, skins, and seeds left after juice extraction. In February 2022, Oregon State University unveiled apple pomace-based molded pulp packaging as an environmentally responsible alternative. This innovation integrates bio-based solutions to enhance water resistance, offering a sustainable choice for various applications and contributing to waste reduction.
Which Region Drives The Highest Growth In The Fruit Pomace Market?
North America was the largest region in the fruit pomace market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fruit pomace market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
