Pericarp Waste Market Outlook
Pericarp waste a rich source of crude protein, carbohydrate, and dietary fiber that is formed from the wall of the ripened ovary. It consists of – endocarp, mesocarp, exocarp. Pericarp waste is popular for its number uses in cosmetics, health care, animal feed, and chemical companies. It is an excellent alternative for oils and chemicals because of its environmentally sustainable nature. The diversified end uses and the developmental stage of pericarp’s waste market holds immense hidden opportunities for the industrial giants.
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The Increase in Awareness of Waste Management Drives and Opens New Pathway for Pericarp Waste Market
The increasing pericarp waste in fresh and processing industries is becoming a major environmental, economic and nutritional issue and is anticipated to serve as the major driver for the pericarp waste market. According, to the Food and Agricultural Organization of United States (FAO) 40-50 % of vegetable and fruit waste are produced every year, which means that the raw product i.e. the pericarp waste will be easily and cost-effectively available to the industrialists. Also, the bio-economy approach of pericarp waste has a useful impact on the economy of the country.
According to the Nutritional Business Journal, the U.S. sales of organic food increased by 4% from 2012 to 2014 making a profit of $35 billion. The increase in awareness of global sustainability has changed the consumer’s perception. Now, the consumers are trying to incorporate everything organic in their livelihood as well as in their diets. And, in such a scenario the launching of products that have used this pericarp waste as their active ingredient would be blissful. Pericarp waste has bioactive components in them which promotes good health, prevent cancer and helps in other diseases. Then the oil extracted from them can be used to in making of cosmetics, medicines and other dietary supplements. The pericarp waste provides an alternative for fuel that is biofuel which is further used to make bioethanol. The multiple uses and the organic nature of pericarp waste are expected to serve as efficient drivers for its market.
It’s recyclable and easily biodegradable nature has helped it to hit the trends hard. Also, it’s utility in making animal feed has helped to grow its market in a much-diversified nature. Hence, the extended application in the number of end-use industries has increased its opportunities in the market.
Pericarp waste Market: Regional Analysis
The increased spoilable of fruits and vegetables and the growing awareness of global sustainability among the population have led to initiate the demand for the pericarp waste market. According, to the United Nations of food and Agriculture Organization (FMO), about one – third of the food produced is in the Asia Pacific region. Also, the local governments in these regions are promoting an environmentally sustainable product. So, pericarp waste has effective potential in these regions.
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The majority of American adults are shifting towards organic preference, especially in North America, South America, and Europe where the production of fruits and vegetables is very high.
Pericarp waste market: Key Participants
- Kerala Agro Industries Corporation, Ltd
- Favini Srl