(I-BusinessNews.Com, July 01, 2021 ) Fruit Pomace Utilization Market size was valued at $3.19Billion by 2020, and is anticipated to grow at a CAGR of 6.8% during the forecast period 2021-2026. The Fruit Pomace Utilization Market growth rate is attributed to the rising demand for fruit pomace in animal feed for livestock, the growing awareness for consuming healthy foods, and the growing trend of consumer expenditure on natural and organic food products over conventional foods are anticipated to bring new opportunities. It helps to generate the dry or pulpy residue, which is known as Pomace, the method of extracting liquid or oil from the fruits or seeds. Another definition of pomace suggests that something that is compressed to a pulpy mass. Fruit Pomace is the waste produced by the food processing industry and a by-product. Fruit pomace can be used for human consumption in processed foodstuffs, for animal feedstuffs and for compost processing.
In addition, the fruit pomace is now further refined and made available in various shapes such as powder, pellets and paste type. By using the Fruit Pomace in a number of applications, this gives the environmental protection of the fruit processing companies. Preventive steps are also being taken by the regulatory bodies to minimize the emission that initiates the various ideas of the use of Fruit Pomace in the different applications.
Fruit Pomace Utilization Market Segment Analysis – By Source
On the basis of source, apple segment held the highest segmental revenue share in 2020. This can be attributed to the fact that apple pomace contains carbohydrate, protein and other vital elements and therefore efforts have been put forward to utilize apple pomace in preparation of edible products. Furthermore, various researchers have worked over the technology to prepare dry apple pomace powder.
On the contrary, grape segment is anticipated to witness significant growth along the forecast period 2021-2026 as the increased demand for the use of fruit pomace in wine production, such as grape seed oil, not only benefits many beverage industries, but also helps to control environmental contamination that could be caused by grape seed disposal.
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Fruit Pomace Utilization Market Segment Analysis – By Application
On the basis of application, dairy products segment accounted for the largest segmental revenue of the Fruit Pomace Utilization market in 2020 owing to the rising importance of breeding and regular stocking for enhancing cattle production output. In addition, consumer inclination towards wellness products during the pandemic is likely to lead to realignment of manufacturers’ sales strategies is anticipated to stimulate market growth during the forecast period 2021-2026.
However, the food processing is poised to hold the highest growth rate with a CAGR of 7.89% over the forecast period 2021-2026. This is owing to the facts that fruit pomace finds extensive use in various food processing industries instead of simply being disposed as waste. For instance, using fruit pomace such as grape seed oil in the production of wine not only benefits many beverage industries, but also helps in controlling environmental contamination which could be caused by the disposal of grape seeds.
Fruit Pomace Utilization Market Segment Analysis – By Geography
North America is the major region dominating the Fruit Pomace Utilization market with a market share of 42.16% in the year 2020. This can be attributed to the fact that North America is to lead the global fruit pomace market as the region has seen rapid industrialization. Growing food and beverages manufacturer and increasing demand for healthy foods could also be responsible for fueling the global fruit pomace market in the region.
However, Asia Pacific is projected to be the significant-growing market during the forecast period 2021-2026 owing to China and India’s dominant role in the world’s fruit production continues to offer greater opportunities for the market players. However, COVID-19 related disruptions, especially in China’s supply chain, are poised to prevent stakeholders from market consolidation in these countries.
Fruit Pomace Utilization Market Drivers
Rising Demand for Cost Effective, Nutritious F&B Ingredients
The Fruit Pomace Utilisation market is poised to receive upswing owing to an increase in demand for health and wellness food products, producers are increasingly searching for readily available ingredients with a good nutritional profile. Fruit pomace is primarily obtained from the processing of fruit and vegetables and continues to be in demand for its improved nutritional quality and benefits in agronomic activities. In addition, it acts as substantial customer inclination to plant-based goods would weigh on the same scale as the increasing demand for fruit pomace.
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Fruit Pomace Utilization Market Challenges
COVID-19 Related Production and Supply Chain Disruptions
Despite several drivers, the impacts of COVID-19 are fast-moving in the food processing industry in general and in the fruit pomace market in particular. This market is a linked network of agricultural inputs, processes for fruit, packers and processors, production of wine, transport, shipping, and more. The domino effect of the global pandemic’s travel constraints, factory closures, and logistical delays reveals fragility of access to fruit pomace which in turn is poised to impact the revenue growth in 2020.
Fruit Pomace Utilization Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Fruit Pomace Utilization Market. In 2020, Fruit Pomace Utilization Market share is fragmented by the top ten players present in the market. Fruit Pomace Utilization Market top 10 companies are 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., Constellation Brands, Inc., and others.
Acquisitions/Product Launches
In June 2020, health and wellness powerhouse Swisse plans to roll out dietary supplements and skincare products containing up cycled grape seed extract derived from Australia’s wine-producing industry.
Key Takeaways
North America dominated the Fruit Pomace Utilization Market with a share of 42.16% in the year 2020.
The factors such as increasing trend of consumer expenditure on natural and organic food products over conventional foods are amongst the major factor projected to impel growth of Fruit Pomace Utilization Market.
Rising awareness for consuming healthy foods, growing demand for fruit pomace in animal feed for livestock, and increasing number of food and beverage industries is the key factors owing the growth in the segment during forecast period 2021-2026.
Related Reports :
A. Fruit & Vegetable Processing Market
https://www.industryarc.com/Research/Fruit-Vegetable-Processing-Market-Research-504459
B. Fruit Pulp Market
https://www.industryarc.com/Research/Fruit-Pulp-Market-Research-507373
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