USD 235.94 million
Pomegranate Market Size, Share, Growth Analysis, By Application(Food & Beverage, Pharmaceutical, Cosmetics), By Category(Organic, Conventional), By Product(Pomegranate Powder, Pomegranate Juice, Pomegranate Concentrate), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30H2041 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
89
|Figures:
76
Pomegranate Market Insights
Pomegranate Market size was valued at USD 235.94 million in 2019 and is poised to grow from USD 248.4 million in 2023 to USD 338.6 million by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).
The main factor anticipated to propel the growth of the global pomegranate market during the forecast period is the rising demand for pomegranate goods including pomegranate powder, pomegranate juice, functional beverages, as well as other pomegranate-derived products.
A significant trend in the market that is anticipated to gain traction is the rising consumption and demand for processed pomegranate goods around the world, with juice and cosmetics currently enjoying the highest levels of popularity. A factor that is anticipated to open up prospects for the participants in the target market is the growth initiatives and investments made by governments of various nations, such as the provision of subsidies and training for farmers and exporters. The cost of pomegranates and related products is higher in North America and Europe, thus there is also a growing emphasis on strategies to lower the cost of the finished product. In turn, this is a component anticipated to generate profitable chances for players active in the North American and European markets. For instance, implementing automation in growing and harvesting can help manufacturers enhance overall workflows, cut labour costs, and improve productivity.
Pomegranate powder is predicted to have the largest revenue share among the type segments and hold onto its lead during the projected period. Pomegranate powder sales are anticipated to grow at a CAGR of around 4.8%. In terms of revenue, the pomegranate juice concentrate segment holds the second-largest proportion.
US Pomegranate Market is poised to grow at a sustainable CAGR for the next forcast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
food and beverage
Fastest Growth
food and beverage
Growth Rate
5.3% CAGR
Global Pomegranate Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
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Pomegranate Market Segmental Analysis
The global pomegranate market has been segmented based on application, category, product, and region. Based on application, the Pomegranate Market is segmented into food & beverage, pharmaceutical, and cosmetics. By product, the Pomegranate Market is segmented into pomegranate powder, pomegranate juice, and pomegranate concentrate. Based on the category, the Pomegranate Market is segmented into organic and conventional. Based on region, the global pomegranate market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Pomegranate Market Analysis by Application
Due to the extensive use of pomegranate in various food products, the food and beverage segment holds the majority of the market share in the application sector. Pomegranate juice is used to create a variety of functional drinks, cocktails, and mocktails to boost their flavour and aesthetic appeal, which has propelled the beverage industry to the top. To enhance the flavour and texture of salads and sauces, pomegranate juice is used to create vinegar.
Pomegranate Market Analysis by Product
Pomegranate concentrate accounts for the majority of the market share in the product sector due to its widespread use in the preparation of various juices and medicinal syrups. Pomegranate juice is also gaining popularity as a nutritional drink because of its immunity-boosting properties.
Pomegranate Market Analysis by Category
The organic pomegranate segment is leading because of the increased consumer demand for organic and clean-label products. Organic products are perceived to be healthier than conventional products because they are free of harmful chemicals and pesticides.
Global Pomegranate Market By Application, 2021 (%)
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Pomegranate Market Regional Insights
In terms of revenue, Asia Pacific dominates the global market and is anticipated to keep doing so over the coming years. Pomegranate consumption is traditionally the highest in Asia, and growing nations like India, Iran, China, etc. are producing an increasing amount of the fruit. The pomegranate market in the region is anticipated to grow as a result of the providers from these nations exporting their goods to North America and Europe. Therefore, growing consumer desire for unusual and healthier fruit may help exporters from poorer nations to become more profitable.
In terms of revenue, the European market holds the second-highest share and is predicted to develop profitably soon. One of the main drivers of this region's target market's expansion is the rising pomegranate consumption, particularly in Germany and the UK. Another factor that is anticipated to encourage the growth of the pomegranate market in Europe over the forecast period is the high acceptability of the Bhagwa type in the countries.
Global Pomegranate Market By Geography, 2022-2028
- Largest
- Fastest
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Pomegranate Market Dynamics
Pomegranate Market Driver
- Pomegranate juice and powder are common ingredients in a variety of functional drinks and foods. The use of functional drinks and foods has recently increased as a result of consumers' growing health concerns. Pomegranate is used to improve the flavor and nutritional value of a variety of processed foods, including cookies, cakes, and pastries. To meet consumer demand, several processed food manufacturers are focusing on the introduction of novel products that include pomegranate.
- Pomegranate-derived goods have a wide range of health-promoting properties, which has led to their wide adoption by a variety of industries aside from the food and beverage sector, which has been its market driver. Due to their inherent ability to improve health, plant-based medications have seen a considerable increase in popularity in recent years. The pomegranate market has expanded as a result of the surge in demand for minimally processed, organic medicines.
Pomegranate Market Restraint
- Pomegranate cultivation and harvesting depend on the seasons, which has a significant negative impact on the market's expansion. Many pomegranate products are produced using expensive procedures and techniques, which drives up the cost of the final product. This has slowed the expansion of its market. Additionally, the high likelihood of microbial contamination in pomegranates degrades product quality, which restrains the market's expansion.
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Pomegranate Market Competitive Landscape
The industry is highly competitive as a result of the presence of numerous large rivals. The majority of manufacturers are pursuing several inorganic growth strategies, such as acquisitions, mergers, and geographical expansion to grow their market share and gain a competitive advantage.
Pomegranate Market Top Players in the Global Pomegranate Market
- PomWonderful LLC
- The Wonderful Company LLC
- POMONA VALLEY JUICE COMPANY
- Purely Pomegranate
- Lakewood Organic
- Minute Maid
- Tropi
- Sun Pacific
- Prohut Organics
- ASITExpo
- Valley Produce Group
- The Good Foods Co.
- A&B Ingredients
- JFC International
- Del Monte Foods Inc.
- Fruition Fruits & Fills
- HPMC
- Navneet Impex
- Bellavista Exportaciones
- Alpine Food Products
Pomegranate Market Recent Development
- In September 2022, Williams Sonoma, a portfolio brand of Williams-Sonoma, Inc., the world's largest digital-first, design-led, and sustainable home retailer, announced a collaboration with POM Wonderful, the global leader in California-grown pomegranates. The POM Wonderful team collaborated with Williams Sonoma to create a one-of-a-kind product line that highlights the unique flavor and versatility of pomegranates. The products will be available as part of POM's 20th anniversary celebrations and as Williams Sonoma prepares to celebrate fall flavors.
- In September 2022, Jiant, a modern beverage brand, announced the launch of Planet Pomegranate, the fifth hard kombucha in Jiant's celebrated seasonal series, in collaboration with social wellness platform Vizer. Planet Pomegranate, which is gluten-free and made from all organic and non-GMO ingredients, will be available from September to December, with proceeds benefiting US food banks and the fight against hunger.
Pomegranate Key Market Trends
- One significant development in the global pomegranate market is the alteration of the supplier nations. For instance, Europe used to be the main supplier of pomegranates to Ukraine, but in recent years, Turkey has increased its share of the pomegranate supply to the Ukrainian market. For instance, Turkey's proportion of the import of pomegranates into Ukraine climbed from 70% to 92%.
Pomegranate Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, of application, the food and beverages segment dominated the global pomegranate market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, Asia Pacific dominated the global pomegranate market owing to the region's exporting their goods to North America and Europe.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 235.94 million |
| Market size value in 2031 | USD 338.6 million |
| Growth Rate | 5.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Pomegranate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Pomegranate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Pomegranate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Pomegranate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pomegranate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Pomegranate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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