Pomegranate Market By Type (Pomegranate Powder, Pomegranate Juice Concentration), By Application (Food Industry, Cosmetics Industry, Pharmaceutical Industry), and Region - Global Forecast to 2028
20th May 2019
find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global pomegranate market is expected to value at nearly US$ 0.9 Bn in 2019 and is projected to register a CAGR of 5.4%. The global pomegranate market is segmented on the basis of type, application, and region.
Global Pomegranate Market: Introduction
Pomegranate is the healthiest fruits with incredible health benefits for the human body such as pomegranate juice contains Vitamin E and Vitamin C. That helps to reduce diabetes, protect arteries and heart, help to keep blood pressure, as well as it has the ability to fight against the growth of prostate cancer cells. So, pomegranate has anti-viral, anti-oxidant and anti-tumor properties. Consuming pomegranate also lowers the stress level and the risk of all sorts of diseases. Pomegranate can be used to treat rashes, acne, and to prevent wrinkles and other signs of aging, also act as a sunscreen and moisturizer. Even to control cholesterol and reduce weight, nutritionists often recommend pomegranate in the diet.
Global Pomegranate Market: Dynamics
Increasing demand for pomegranate products such as pomegranate powder, pomegranate juice, functional beverages, as well as other pomegranate-derived products is major factor projected to drive the global pomegranate market growth during the forecast period. Increasing demand for cosmetics products with pomegranates ingredients and availability of a wide range of products that offer multiple benefits are some factors expected to drive rapid growth of the global pomegranate market. This can be attributed to its therapeutic properties as it upsurges the keratinocytes growth, that resulted in a new level of skin and hair regimen. In addition, rising disposable income of individuals, coupled with increasing consciousness regarding personal health and wellness among the consumers are some other factors projected to propel growth of the target market over the forecast period. Rising adoption and demand for pomegranate in the pharmaceutical industry as well as the food & beverage industry is a propelling factor that helps for growth of the target market.
However, incidence of allergies to some women, cause owing to the consumption of pomegranate during pregnancy and breastfeeding is a factor that could hamper growth of the target market during the forecast period. In addition, increases the risk for persons with low blood pressure and high sugar level, as pomegranate consumption lowers blood pressure, is another factor that could restrain the use of pomegranate as well as growth of the market.
Growing consumption and demand for processed pomegranate products across the globe, in which juice and cosmetics have become most popular, is a key trend observed in the market and is expected to gain traction, thereby supporting revenue growth of the global market.
Growing initiatives and investments by governments of various countries such as providing subsidies and training for farmers and exporters is a factor expected to create opportunities for the players in the target market. In addition, rising focus on plans to reduce the cost of end product, as the pomegranate and related products cost are higher in North America and Europe region. This in turn, is a factor expected to create lucrative opportunities for players operating in North America and Europe market. For instance, adoption of automation for growing and harvesting can aid the manufacturers in improving overall processes and reduce manpower and related costs.
Global Pomegranate Market Analysis, by Type
Among the type segments, the pomegranate powder segment is expected to account for major revenue share and is expected to maintain its dominance over the forecast period. The pomegranate powder segment is expected to register CAGR of over 4.8%. The pomegranate juice concentrate segment accounts for the second highest share in terms of revenue in the near future. As pomegranate juice concertation is used in cooking both as a concentrated syrup and as a fresh juice.
Global Pomegranate Market Analysis, by Applications
Among the application segments, the food industry segment is accounted for the major revenue share and is expected to maintain its dominance over the forecast period. Increasing demand for organic fruits as well as fruit juices, flavored water, jams, salads, and desserts are some factors expected to propel growth of the food industry in the global market.
Global Pomegranate Market Analysis, by Region
Currently, the market in Asia Pacific is dominating the global market in terms of revenue and is expected to maintain its dominance over the forecast period. As Asia is a traditional consumer of pomegranate, and rising production of pomegranate in developing countries such as India, Iran, China, etc. The suppliers from these countries export their product to North America and Europe is expected to increase the pomegranate market in the region. So, rising demand for healthier and exotic fruit can support to increase profitability for exporters from developing countries.
The market in Europe accounts for second-highest share in terms of revenue and is expected to register lucrative growth in the near future. Increasing consumption of pomegranate, especially in countries such as Germany and the UK is a major factor fueling growth of the target market in this region. In addition, high acceptance of Bhagwa variety in the countries is another factor expected to support growth of the pomegranate market in Europe over the forecast period.
North America pomegranate market is expected to register fastest growth in terms of revenue in the near future. Increasing demand for pomegranate as fresh fruit or derived product in countries such as the U.S and Canada is a factor supporting growth of the target market in the countries in this region. Additionally, most varieties of pomegranate are only available according to the Pomegranate Council website in developed countries, from October through January. This in turn, is another factor that could restrain the use of pomegranates as consistent sources of antioxidants and vitamins in these regions.
The market in Middle East & Africa is expected to witness lucrative growth in terms of revenue over the forecast period, followed by Latin America. In addition, increasing demand for this fruit creates more opportunities for producers operating in the pomegranate market, is factor projected to support growth of the target market in this region.
Global Pomegranate Market Segmentation:
Global Pomegranate Market Segmentation, by Type:
- Pomegranate Powder
- Pomegranate Juice Concentrate
Global Pomegranate Market Segmentation, by Application:
- Food Industry
- Cosmetics Industry
- Pharmaceutical Industry
Global Pomegranate Market Segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Wonderful Company LLC
- THE COCA-COLA Company
- TTM Food
- Rasanco Limited
- Ocean Spray Cranberries
- Milne Fruit Products
- Ingredion Incorporated
- 1.1 Introduction
- 1.2 Executive Summary
- 1.3 Drivers:
- 1.4 Restraints
- 1.5 Opportunities
- 1.6 Trends
- 1.7 Global Pomegranate Market Outlook (2012-2028)
- 1.7.1 Global Pomegranate Market Revenue (US$ Mn) (2012–2019)
- 1.7.2 Global Pomegranate Market Revenue (US$ Mn) (2020–2028)
- 1.8 Global Pomegranate Market Revenue by Regions
- 1.8.1 Global Pomegranate Market Revenue (US$ Mn), by Region (2012–2019)
- 1.8.2 Global Pomegranate Market Revenue (US$ Mn), by Region (2020–2028)
- 1.9 Global Pomegranate Market Revenue by Type
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