Pomegranate Market Size, Share & Industry Analysis, By Product (Pomegranate Powder, Pomegranate Juice, Pomegranate Concentrate), By Category (Organic,Conventional), By Application (Food and Beverage, Confectionery, Dairy, Beverages, Bakery, Condiments] Pharmaceuticals, Cosmetics and Personal Care) And Regional Forecast, 2024-2032

Pomegranate fruits are categorized under the berry fruits that belong to the Lythraceae family. Pomegranate fruit is considered among the healthiest fruits due to its rich vitamin E and C content. Pomegranate has several properties such as anti-viral, anti-inflammatory, antioxidant activity which has led to its wide incorporation in pharmaceuticals, cosmetics, and food industries. The pomegranate is widely used for various cosmetic products due to its anti-aging and acne prevention properties as well as it acts as a sunscreen and moisturizer. Moreover, the increasing demand for cosmetic and personal care products propels its market growth.

The wide incorporation of pomegranate juice and powder in various functional drinks/food due to its high nutritional properties. The consumption of functional drinks/food has increased in recent years owing to the consumers growing health concerns. The utilization of pomegranate in various processed foods such as cookies, cakes, and pastries for enhancing its taste and nutritional properties. Many processed food manufacturers are now focussing on innovative product launches, incorporated with pomegranate to fulfill the growing demand of consumers. Thus, these factors fuel its market growth.

The products derived from pomegranate from possessing many health-promoting benefits that have led to its wide incorporation by various industries other than the food and beverage sector which has driven its market. In recent years there has been a significant inclination of consumers towards plant-based medicines as they naturally contain health benefitting properties. The rise in demand for minimally processed and organic medicinal products has also contributed to the market growth of pomegranate.

The seasonal dependency for harvesting and cultivation pomegranate for producing various products acts as a major restraint in its market growth. The techniques and methods utilized for producing various pomegranate products are costly which increases the overall product prices. This has hampered its market growth. Further, the high chances of microbial contamination in pomegranate hamper the quality of products, thus impeding its market growth.

Key Players Covered:

The key companies operating in the global pomegranate market are, POM Wonderful llc, Lakewood, Inc., The Coca Cola Company, The J.M. Smucker Company, Gilan Gabala Canning Factory, Gateway Group, TTM Food, Taj Agro Products Ltd., and PepsiCo.

The global pomegranate market is segmented by product, category, application, and geography. The pomegranate concentrate in the product sector is accounted for holding the major share in the market owing to its broad utilization in preparing various juices and medicinal syrups. The pomegranate juice segment is also witnessing traction as it is consumed as a nutritional drink due to its immunity-boosting properties.

The organic pomegranate segment is leading due to the increase in consumers' demand for organic and clean-label products. The organic products are perceived to be healthier than the conventional variant as it is free from any harmful chemical and pesticides.

The food and beverage segment is holding the major share in the application sector due to the extensive utilization of pomegranate in various food products. The beverage segment is leading as pomegranate juice is used for formulating various functional drinks, cocktails, and mocktails to enhance its flavor and aesthetic appeal. The pomegranate juice is used for making vinegar which is used in salads and dressings to improve the taste and texture.

Regional Analysis:

Asia Pacific region is the fastest-growing market for pomegranate due to the presence of countries such as India and China in the region which are amongst the largest producer of pomegranate in the world. The rise in per capita consumption of food products due to the growing population is a macro-economic factor that drives the market. The countries export large amounts to pomegranate to the other regions which have led to higher revenue generation. Further, many multinational companies are setting up their production base in the region due to the presence of potential markets such as India, China, and Japan boosts its regional market growth.

North America is expected to witness robust growth in the pomegranate market in the upcoming years due to the increase in consumption of functional drinks as consumers prefer them over the high-sugar containing carbonated beverages. The increasing demand for pomegranate fresh fruit and its derived products due to the inclination towards plant-based products has contributed to its regional market growth.

Europe is witnessing substantial growth in the pomegranate market due to the presence of Germany and the U.K. which are among the major pomegranate consuming countries in the region. The increasing preference of the consumers towards fruit that is easy to prepare and ready-to-eat has positively impacted the regional sales performance of pomegranate.

Segmentation

Key Industry Developments

• In January 2020, Shamrock Farms, a US-based dairy company launched Rockin’ Protein range of super fruit beverages in two flavours-cherry crème and blueberry pomegranate. These products are ready-to-drink beverages and are free from any added sugars as well as is lactose-free.


• In September 2017, POM Wonderful, LLC, a producer of pomegranates and pomegranate arils acquired Ruby Fresh, a distributor and processor of pomegranate to strengthen its supply chain and production capacity in the United States.