What is the global market size of Pomegranate Market?

Global Pomegranate Market size was valued at USD 24.8 billion in 2021, and it is expected to reach a value of USD 33.86 billion by 2028, at a CAGR of 5.3% over the forecast period (2022 - 2028). Read More

Global Pomegranate Market Size, Share, Growth Analysis, By Application(Food & Beverage, Pharmaceutical), By Category(Organic, Conventional), By Product(Pomegranate Powder, Pomegranate Juice) - Industry Forecast 2024-2031

Report ID: SQMIG30H2041 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 89 | Figures: 76

Global 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.

Global Pomegranate Market Report Snapshots

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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 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. '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 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.

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%.

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.

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Global Pomegranate Market Size, Share, Growth Analysis, By Application(Food & Beverage, Pharmaceutical), By Category(Organic, Conventional), By Product(Pomegranate Powder, Pomegranate Juice) - Industry Forecast 2024-2031

Global Pomegranate Market Dynamics

Global Pomegranate Market Report Snapshots

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