Refresco, the global independent beverage solutions provider for Global, National and Emerging (GNE) brands and retailers in Europe, North America and Australia, publishes the Annual Report 2024 of Pegasus MidCo B.V., the entity owning Refresco Holding B.V.

The Annual Report, consisting of the Executive Board Report and the Financial Statements, is available for download on Refresco’s website: https://annualreport.refresco.com/

About Refresco
Refresco is the global independent beverage solutions provider for retailers and global, national and emerging brands with production in Europe, North America and Australia. Refresco offers an extensive range of product and packaging combinations from juices to carbonated soft drinks and mineral waters in carton, PET, Aseptic PET, cans and glass. Refresco continuously searches for new and alternative ways to improve the quality of its products and packaging combinations in line with consumer and customer demand, environmental responsibilities and market demand. Refresco is headquartered in Rotterdam, the Netherlands and has more than 14,500 employees.

Elopak ASA has rounded off the year focused on delivering on our strategic priorities with continued solid financial performance. For the full year, our consolidated revenues were EUR 1,157 million, an increase of 2.2 % on our strong results in 2023, with an EBITDA margin of 15.2 %. The Board proposes a dividend of EUR 0.13 per share for the year 2024, in line with our dividend policy.

Q4 2024 highlights:

• Strong carton and closure revenue growth of 6.1 %, mainly in the fresh dairy segment in Europe and Americas
• Proposed dividend of EUR 0.13 per share for the year 2024, corresponding to a dividend yield of 4.0 %
• EBITDA of 40.8 million with a margin of 14.4 %, an improvement of 0.7 million or 1.7 %
• The installation of a second Roll Fed production line at our plant in India has been concluded, doubling our production capacity

Commenting on Elopak’s performance, CEO Thomas Körmendi said: “I am pleased to report a year of continued strong financial performance. In the face of volatile macro-economic and geo-political conditions, capacity constraints and supply chain issues in Americas, we have once again demonstrated our resilience. 2024 was a year focused on delivering our strategic priorities. This included the start of construction of our new plant in the US, the installation of a second Roll Fed packaging production line at our plant in India and strengthening our leadership position with our D-PAK™ carton solutions. Looking into 2025, we look forward to new milestones, including the start of production at our new US plant in the first half of the year. I am confident in our ability to continue successfully executing our “Repackaging tomorrow” strategy, positioning us to achieve our targets in 2025 and beyond”.

Full year 2024 highlights:

• EBITDA of EUR 176.1 million with a margin of 15.2 %, an improvement of EUR 5.2 million
• Revenues of EUR 1.157 million, corresponding to a growth of 2.2 %
• New production plant in Little Rock, Arkansas, US on plan to start production in first half of 2025, on time and within budget
• Presented our reshaped strategy “Repackaging tomorrow” with new mid-term targets at our Capital Markets Day in September
• Refinanced debt capital structure: triple-tranche inaugural green bonds successfully issued and new revolving credit facility signed

For the full report and presentation, please visit this page.

Symrise AG, a leading global supplier of fragrances and flavours, cosmetic and active ingredients as well as functional products, continued to significantly increase its sales and earnings growth in the 2024 financial year despite challenging economic conditions. Symrise confirms its mid-term growth and profitability targets until 2028.

The Symrise Group generated sales of EUR 4,999 million, an increase of 5.7 % in the reporting currency. Excluding portfolio and currency effects, organic sales growth amounted to 8.7 %. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to EUR 1,033 million, up EUR 130 million from the previous year’s figure of EUR 903 million¹. This corresponds to a margin of 20.7 % (2023: 19.1 %¹).

Sales development in the regions

Business in the Europe, Africa, Middle East (EAME) region performed well, with sales growing organically by 10.9 %. Sales in North America were positively impacted by the resumption of production at the Colonel Island site. After a decline in sales in the previous year, organic sales growth of 1.5 % was achieved in 2024. The Asia/Pacific region achieved organic sales growth of 9.3 % year-on-year. Sales in Latin America were very dynamic, with organic growth of 15.2 %.

Earnings performance and net income

An important driver of the very positive development of earnings was the profitable sales growth and the execution of the efficiency program. The gross margin reached 39.3 % in 2024, an increase of 2.5 percentage points versus the previous year (2023: 36.8 %²).

Earnings before interest, taxes, depreciation and amortization (EBITDA) grew to EUR 1,033 million, an increase of EUR 130 million versus the previous year’s figure of EUR 903 million . This corresponds to a margin of 20.7 % (2023: 19.1 %2).

Net income attributable to shareholders of Symrise AG amounted to EUR 478 million and was EUR 138 million higher than in the previous year (2023: EUR 340 million). Earnings per share amounted to EUR 3.42 and were EUR 0.98 above the previous year’s figure of EUR 2.44.

Cash flow, net debt, and equity ratio

Operating cash flow was significantly higher than in the previous year and amounted to EUR 895 million (2023: EUR 720 million). The operating cash flow ratio as a percentage of sales was 17.9 %.

Business free cash flow, which is an important internal performance indicator consisting of EBITDA, capital expenditures (including cash effects from leasing) and changes in working capital, increased significantly to EUR 680 million in the financial year (2023: EUR 553 million²). The business free cash flow ratio improved to 13.6 % (2023: 11.7 %²) of sales.

Net debt decreased by EUR 330 million to EUR 1,836 million compared with the reporting date of December 31, 2023. The ratio of net debt including lease liabilities to EBITDA was thus 1.8. Including pension and lease liabilities, net debt amounted to EUR 2,343 million, corresponding to a ratio of net debt (including lease liabilities and provisions for pensions and similar obligations) to EBITDA of 2.3.

The equity ratio of 48.3 % was higher than in the previous year (2023: 47.0 %), a very solid basis for continuing to grow the business in the long term.

Segment Taste, Nutrition & Health

The Taste, Nutrition & Health segment achieved organic sales growth of 7.8 %. Taking into account portfolio and exchange rate effects, the segment’s sales amounted to EUR 3,091 million in reported currency, an increase of 3.8 %. The negative portfolio effect from the sale of the beverage trading business in the UK in the Food & Beverage division amounted to around EUR 38 million.

In Food & Beverage the application areas for savory products and beverages developed very well and achieved double-digit organic growth. In particular, the EAME (Europe, Africa, Middle East) and Asia/Pacific regions achieved high growth rates. The Naturals and Sweet application areas achieved low single-digit percentage growth with strongest growth in the EAME and North America regions.

The Pet Food business achieved single-digit organic growth. Sales development was particularly dynamic in the Latin America and Asia/Pacific regions, including China, with double-digit organic growth. In EAME, Turkey, Belgium and Spain in particular showed high growth.

The sales development of the Aqua Feed business unit recorded declining organic growth in the financial year. As part of the further portfolio streamlining with a focus on high-margin growth areas, Symrise intends to sell the business in Costa Rica and Ecuador.

EBITDA in the Taste, Nutrition & Health segment amounted to EUR 686 million in the reporting year, up on the prior-year figure (2023: EUR 627 million3). The increase is mainly due to profitable sales growth and an increased efficiency. The EBITDA margin of 22.2 % was significantly above the previous year’s level (2023: 21.0 %³).

Confirmation of long-term growth and profitability targets

Symrise has confirmed its growth and profitability targets for 2025. The Group continues to expect to grow faster than the relevant market. The projected long-term growth of the relevant market is about 3 % to 4 % globally. The Group’s long-term growth expectation of 5 % to 7 % (CAGR), which is also expected to be achieved in 2025, remains unchanged.

The Group is aiming for an EBITDA margin of around 21 % for 2025, In the medium term, a range of 21 % to 23 % is targeted. For the Business Free Cashflow, a ratio in relation to sales of around 14 % is targeted in 2025.

¹Attributable to shareholders of Symrise AG
²Undiluted
³Including lease obligations

European Cider Trends 2024 is a collaboration between GlobalData and the European Cider and Fruit Wine Association (AICV) in producing a guide that demonstrates the current key markets for cider (which includes perry, fruit flavoured cider and in some countries fruit wine).

Although considerably smaller than the wine, beer, or spirits industries, it is nevertheless a fact that in recent years in some EU countries cider and fruit wines have enjoyed one of the fastest growth rates of all alcoholic beverages, underlining the continuous popularity of fermented fruit drinks down the ages.

Please download the European Cider Trends 2024 as pdf-file under https://aicv.org/en/news/2024-european-cider-trends

Informa Markets has released data that has reaffirmed Fi Europe as Europe’s unmissable ingredients event. The annual ingredients industry gathering, which took place at Frankfurt Messe from 19-21 November, attracted 23,221 attendees from 130 countries. Not only did the event see higher footfall than in recent years, it also welcomed an increased number of attendees from the key R&D, product management and procurement functions. Collectively, this data is evidence that Informa’s efforts to keep the format fresh and exciting were well received. In 2025, Fi Europe will return to Paris Expo Porte de Versailles from 2-4 December.

The food industry relies on Fi Europe as a forum for sourcing new ingredients, keeping abreast of industry trends and developments and making connections. The 2024 edition did not disappoint with its bustling show floor, informative content programme and abundance of networking opportunities. The event app was further developed this year to enhance the in-person experience, allowing attendees to scan one another’s badges and manage all contacts and leads in one place, so that they can easily contact them after the show.

Fi Europe’s carefully curated in-person content programme is always a major draw and this year was no exception. The Future of Nutrition Summit kicked off the proceedings the day before Fi Europe opened its doors, with a full agenda designed to inspire and inform whilst facilitating networking and discussion. Speakers from NASA, Nuritas, NotCo, PepsiCo and Unilever shared powerful and thought-provoking insights into the issues, trends and technologies expected to shape the F&B industry in the coming years.

From Tuesday, the vibrant show floor became the focal point of the event, bringing over 1500 suppliers of ingredients and related technologies and services together with potential buyers. Thousands of ingredients were showcased at the event, reaffirming Fi Europe as the premier platform for sourcing food and beverage ingredients. For the first time, visitors were given the option of buying an early access pass. Uptake was high, and when the exhibition opened at 9am on Tuesday morning, early pass holders had exclusive access to explore the show floor.

Occupying four halls, the venue was zoned, allowing visitors to focus their efforts. Over 80 companies populated the Food Technologies & Solutions zone, which had been expanded for 2024. They were kept busy by a constant stream of visitors keen to learn about solutions for making their operations and supply chain activities safe, sustainable, efficient and resilient. The Petfood Suppliers Hub was introduced as a new zone for 2024, giving the pet food industry a dedicated forum for exchanging ideas, inspiring innovation and forging new relationships. It proved a popular addition, enabling companies to harness the synergies between the food and pet food ingredient markets.

A further first, free access to the Fi Europe Conference was included with all visitor passes. Experts addressed packed auditoriums throughout the two-day conference, which focused on four topical themes: health and wellbeing; plant-based and alternative proteins; reformulation; and tech-led ingredient innovations and solutions. Speakers from a broad cross-section of commercial, academic and research organisations, including EIT, Euromonitor, Innova, Mintel, RaboResearch and Wageningen University, made for a varied and insightful programme.

One of the highlights of day two was the Women’s Networking Breakfast, which featured engaging talks and panel discussions with some of the industry’s most respected female leaders. It was the best attended ever, and the networking was outstanding.

The entire event was designed around inspiring, enabling and celebrating innovation, through features like the Tasting Bar, where attendees had the opportunity to taste ingredients in use through samples such as goats’ milk protein bars, marine collagen water and next-gen energy drinks. The Innovation Hub hosted presentations and discussions as well as the Startup Challenge, and the prestigious Fi Europe Innovation Awards recognised outstanding contributions to the F&B ingredients industry.

Yannick Verry, Brand Director, Food ingredients Europe, at Informa Markets, says: “We recognise that it is crucial for Fi Europe not to remain static, but to evolve and change with the times, to ensure it continues to be relevant and to represent value for money for participants. For 2024 we made some changes and trialled several new features, whilst staying true to our promise of providing a platform for companies to trade, innovate and grow. We are delighted to report that the show embodied all the ingredients of a successful event, and we are already looking at how we can make the 2025 edition in Paris even better.”

Around 450 industry leaders discussed innovation, sustainability, and collaboration in the global juice sector.

The Juice Summit 2024, held in Antwerp on 16-17 October, concluded with great success, bringing together around 450 participants from around the world. Jointly organised by AIJN (European Fruit Juice Association), IFU (International Fruit and Vegetable Juice Association), and SGF International (SAFE- GLOBAL-FAIR), this year’s summit once again reinforced its reputation as the premier global platform for the fruit juice and nectar industry. With dynamic discussions, insightful keynotes, and forward-looking sessions, the summit explored the critical challenges and opportunities shaping the future of the juice industry.

Key themes addressed during Juice Summit 2024

At the Juice Summit 2024, keynote speakers offered valuable insights into the industry’s future. Elwin De Groot from RaboResearch addressed global economic challenges, emphasising the need for innovation and adaptability. Following him, Elopak CEO Thomas Körmendi focused on the growing importance of sustainable packaging, urging the industry to make strategic, eco-friendly choices for long-term success. Following the keynotes, four panel discussions tackled key issues. The first a session focused on consumer behaviour, including an analysis of psychological drivers, particularly during times of crisis such as inflation and health concerns. Leaders shared actionable insights on how businesses can adapt to emerging consumer trends, providing fresh opportunities to revitalise product offerings and better meet evolving consumer needs.

Another key issue addressed was the citrus greening disease affecting the orange industry in South America with consequences on availability and price. The session stressed the importance of collaborative efforts between growers, researchers, and industry stakeholders to safeguard the future of orange juice production.

Sustainability was another key theme at the summit, particularly during the session on the evolving Packaging and Packaging Waste Regulation, exploring how the juice sector can thrive in a circular economy, and analysing both the challenges and opportunities presented by this regulation.

The final session took a broad view of emerging markets of apple juice production and global citrus industry trends. The summit ended with a presentation on building resilient food systems, outlining adaptive strategies for handling climate change, economic volatility, and global disruptions in agriculture.

Looking ahead: a united industry for a sustainable future

The Juice Summit 2024 concluded with a strong emphasis on adaptability, innovation, and sustainability as critical drivers for the future of the juice industry. Kees Cools, President of IFU, remarked, “The Juice Summit offers a great information and dialogue platform to all segments of the global juice supply chain in support of solutions for the many challenges the industry faces today.” Joachim Tretzel, President of SGF, added, “The unique blend of commercial and technical subjects during the Juice Summit offers many opportunities to jointly exploit new routes to future success.” Javier Lorenzo, President of AIJN, echoed these sentiments, stating, “The future of the juice industry lies in our ability to work together, share knowledge, and drive innovation”.

The next edition of the Juice Summit is scheduled for early October 2025, before Anuga 2025, with further details to be announced in the coming months.

For more information and to stay updated on future events, please visit The Juice Summit Website.

“Transition in Packaging” will be the key theme for FACHPACK at the Exhibition Centre Nuremberg from 24 to 26 September 2024. This describes the powerful currents that are affecting the packaging sector in Europe right now. High expectations in terms of sustainability combined with new packaging regulations, increasing digitalization and artificial intelligence are just three of the driving themes at FACHPACK 2024. Demographic change also poses challenges for the industry. FACHPACK perceives itself as a guide for the sector, offering both interaction and direction. “The dynamics in the packaging industry have never been greater,” says Heike Slotta, Executive Director Exhibitions at NürnbergMesse. “And companies are responding with impressive powers of design and innovation. We will get to experience these first-hand during the three days of the trade fair, and I’m very much looking forward to it.” The key theme of “Transition in Packaging” will be reflected at the stands of the 1,463 exhibitors, in the extensive lecture programme, in the fascinating special shows and themed pavilions, and in the award presentations. Some 35,000 visitors from the consumer and industrial goods industries are expected.

FACHPACK provides a compact yet comprehensive overview of the products and services along the entire packaging process chain for industrial and consumer goods. That means packaging, the associated technology and the accompanying processes. The trade fair extends to eleven exhibition halls this year. Of the 1,463 exhibitors, 47 percent will travel to Nuremberg from outside Germany, the majority from Austria, Switzerland, Italy, the Netherlands, Poland, Belgium, Greece, the Czech Republic, France and Turkey.

About 56 percent of exhibitors represent the packaging sector, in other words packaging materials and packaging accessories. Forty-four percent are from the packaging technology area, i.e. packaging machines, labelling systems and automation. The package printing and finishing segments and internal logistics are also covered at FACHPACK.

New food for thought and solutions for the packaging industry

Following a few challenging years, FACHPACK is back in the form in which the industry knows and appreciates it: 1,463 exhibitors will be present in the eleven exhibition halls, and not only the most prominent names in the packaging industry but also many smaller SMEs which will also find their customers here. “FACHPACK is quite simply a ‘class reunion’ for the European packaging industry,” Slotta observes, adding: “For three days we will once again experience the hands-on mentality that’s characteristic of this sector and feel its momentum. The current transformation in the packaging industry is something we are facing with optimism and a focus on solutions. We are actively involved in shaping this transformation, fully in line with our slogan, ‘We create the future’!

New network: Women in focus

A new feature is the Women4Packaging networking event for women in the packaging industry, taking place in the Brussels Room, NCC Mitte, at mid- day on the first day of the trade fair (24.9). This will give female players in the industry a unique opportunity to network on-site, provide mutual inspiration and interact on current themes and trends in the packaging sector. The whole thing takes place in a relaxed atmosphere. A highlight is the Keynote by Vera Strauch, founder of the Female Leadership Academy and expert in Feminist Leadership, on “Grow Your Influence: How to build a strong network and make an authentic impact”. About 150 participants have registered.

New ideas: Presentations with their finger on the pulse

FACHPACK perceives itself as a driving force for the sector. In addition to the extensive product exhibition and the many innovations on show there, this will also be evident from the lecture programme in the forums PACKBOX (Hall 4), INNOVATIONBOX (Hall 2) and SOLPACK 5.0 (Hall 3). All three draw on themes of current interest to the sector, e.g. dealing with the new Packaging and Packaging Waste Regulations (PPWR), the circular economy, automation and AI, and also alternative packaging solutions and new fibre-based raw materials.

Highlights in the lecture programme include:

• Safe and sustainable? Evaluation of packaging materials with a focus on recyclates
• Quo Vadis Packaging?– what does the new EU packaging regulation mean in terms of practical business examples
• Digital packaging data: A must-have to handle complexity and new legal demands
• How AI is driving the circular economy
• Digitalization – smart packaging for greater transparency and sustainability
• Future-Ready Packaging – How to make your packaging fit for the future: Best practice examples of paper-based packaging solutions!
• The future of retail: new insights and their impact on the packaging industry

In the PACKBOX forum, moderated on this occasion by industry experts Matthias Mahr (LebensmittelPraxis magazine), Dr Johannes Bergmair (Pack Experts and World Packaging Organisation) and Oliver Berndt (Deutsches Verpackungsinstitut (German Packaging Institute, dvi), key partners to the packaging industry will give shape to the programme and invite visitors to listen in and join the discussion. SOLPACK 5.0, moderated by Peter Désilets and Volker Muche (sustainability agency pacoon GmbH), is devoted to sustainable packaging solutions. At INNOVATIONBOX, moderated by Nina Schönrock and Petra Bindl, registered exhibitors will introduce their new product developments and process innovations in short, punchy presentations.

Good packaging design: Special show “Outside the Box”

Anyone interested in packaging design should be sure to look in on the special design show “Outside the Box” in Hall 4. Organized for FACHPACK by bayern design, this illustrates the drafting and design process from idea through to good packaging design, and offers valuable insights into the impact of design on development processes. Unusual exhibits, e.g. innovative packaging for fitted sheets or a reuse system for domestic products such as detergents or soaps, are used to show design processes that make packaging more suitable for the circular economy, improve awareness of the brands behind products, and create a sense of identification and awareness among customers and users.

Fascinating approaches: Alternative packaging solutions

FACHPACK will offer inspiration this year with a special item on the programme: the “Alternative packaging solutions” pavilion. This is where examples of alternatives to traditional materials will be presented, along with an insight into what could be possible in the future. In the fully booked pavilion in Hall 3, for example, exhibitors will display compostable film bags, padding material made of grain husks, compostable tea bags, packaging made of sugarcane, and much more besides. The SOLPACK 5.0 forum is also part of this pavilion.

Fresh wind: Start-ups conquer the industry

Anyone on the lookout for fresh, unconventional ideas and products to resolve packaging questions will also find these this year among the start- ups in the packaging sector in Hall 2. Awaiting visitors are the “Young Innovators” pavilion for young, innovative companies, sponsored by the German Ministry of Economic Affairs and Climate Protection (BMWK), and the “Newcomers Pavilion”, which provides a platform where first-time exhibitors at FACHPACK and international newcomers to the sector can introduce themselves and their innovative products and services to the experts.

New industry talents in focus: Students Day on Thursday

The STUDENTS DAY on the third day of the fair (26.9) brings together prominent companies and new talents in the packaging industry. At the invitation of FACHPACK and the German Packaging Institute (dvi), students from the German-speaking region will meet in workshops with professionals from the likes of DALLI Werke, Henkel, Tchibo, Smurfit Kappa and Beiersdorf. An animated exchange of ideas on the demands of the future and the specifics of working in the packaging industry is guaranteed.

Achievements honoured: German Packaging Award

On the first day of the fair, the stage will once again be set for a total of 41 winners of the German Packaging Award, Europe’s top showcase for all aspects of packaging. Almost 250 submissions from 13 countries were submitted in advance for personal inspection and assessment. The German Packaging Award is presented by the German Packaging Institute (dvi) in ten categories. The presentation will take place in the Munich Room, NCC Mitte, from 16:30. As a premium partner, FACHPACK will present the special award for young talents. This distinction recognises the best packaging designs by school pupils, apprentices and students.

Industry development: Caution and optimism for 2025

The results of a current survey among associations in the German packaging industry show that weak economic conditions and growing regulatory demands are particular sources of concern for the packaging sector. According to the associations, however, an initial recovery in the economic situation in Germany is making itself felt. A cautious optimism is in the air for 2025. “As an industry platform, FACHPACK can assist the packaging industry with its challenges,” says Slotta. “Together it’s possible to develop ideas and solutions to encourage economic success for the industry. A trade fair that represents an entire sector can achieve more than individual companies on their own.”

According to the Food and Packaging Machinery Association at VDMA, incoming orders for packaging machines in the first four months of 2024 increased by 16 percent in real terms. Positive development overall is expected for the second half of the year. Global demand remains huge, and the potentials in the emerging economies in particular are far from being exhausted.

IK Industrievereinigung Kunststoffverpackungen (the Plastic Packaging Industry Association, IK) expects a slight economic recovery in the second half of 2024. The strongest drivers of hope in its view are the stable export expectations and adaptation strategies on the part of companies to secure supplies of raw materials and the circular economy. The Industrieverband Papier- und Folienverpackungen (IPV), the German association representing producers of packaging made from paper and plastic films, perceives major opportunities in the strong trend toward light, customizable and easily recyclable packaging. The folding box segment sees the possibility of an upswing in the future substitution of packaging based on petrochemicals with fibre-based recyclable packaging. A slight upturn in business from autumn 2024 is expected in the wooden packaging sector. In addition to the economic situation in Germany, the Bundesverband Holzpackmittel, Paletten, Exportverpackung (the German association for wooden packaging materials, pallets and export packaging, HPE) is looking toward foreign trade, since it perceives that a decline in foreign trade is causing a downward trend in demand for wooden packaging. As for glass containers, the Bundesverband Glasindustrie (the German glass industry association) assumes that the situation will continue to stabilize during 2024. The Verband der Wellpappen-Industrie (German Corrugated Board Industry Association, VDW) expects to see a gradual process of recovery for 2024. In the first five months of 2024, VDW members experienced revenue growth of 1.6 percent compared to the same period last year. Further information, figures and graphics on the packaging market in Germany and Europe can be found in the FACHPACK360° news portal.

Total orange production¹ is updated at 215.78 million boxes

The first update of the 2024-2025 orange crop forecast for the São Paulo and West-Southwest Minas Gerais citrus belt, published by Fundecitrus, carried out in cooperation with Markestrat and full professors from FEA-RP/USP and FCAV/Unesp², is 215.78 million boxes of 40.8 kg. Of the total, 200.46 million boxes come from the first three blooms, while 15.32 million boxes belong to the fourth bloom. Compared to the initial estimate in May, the projection shows a reduction of 16.60 million boxes, which corresponds to a 7.1 % decrease. Analyzing by maturity group, the early-season varieties decrease by approximately 3 %, the mid-season (Pera) by 11 %, and the late-season varieties by 7 %. Compared to the previous crop (307.22 million boxes), the current projection represents a 29.8 % drop, with early-season varieties down by roughly 33 %, mid-season (Pera) by 35 %, and late-season varieties by 24 %. It is also estimated that approximately 14.34 million boxes will be harvested in the Triângulo Mineiro region. …

Please download the complete forecast under: www.fundecitrus.com.br/pdf

¹Hamlin, Westin, Rubi, Valencia Americana, Seleta, Pineapple, Alvorada, Pera Rio, Valencia, Valencia Folha Murcha and Natal.
²Department of Exact Sciences, FCAV/Unesp Jaboticabal Campus.

All Citrus Value Up 6 Percent, Production Up 12 Percent

The USD 221 million preliminary on-tree value of the 2023-2024 citrus crop is 6 percent more than the USD 208 million revised value for 2022-2023.

Florida’s all citrus production in 2023-2024 is 20.2 million boxes, up 12 percent from the previous season’s 18.1 million boxes. All orange production increased by 14 percent to 18.0 million boxes. Non-Valencia production at 6.76 million boxes is up 10 percent from the 2022-2023 season. Valencia orange production at 11.2 million boxes is up 16 percent. All grapefruit production decreased 1 percent to 1.79 million boxes. Tangerine and tangelo production in 2023-2024 is down 6 percent from the previous season …

Please download the full citrus crop production forecast: www.nass.usda.gov

The Prognosfruit Conference is Europe’s leading annual event for the apple and pear sector, gathering apple and pear experts from across Europe and beyond. Prognosfruit 2024 took place in Budapest, Hungary. During the conference, WAPA (World Apple and Pear Association) released its forecast for the upcoming season of 2024/2025. The forecast for apples is set at 10,2 million t, 11,3 % lower than last year. The pear crop shows a slight recovery from 2023, increasing by 4,9 % to 1,79 million t.

Prognosfruit, the leading annual event for the apple and pear sector, took place in Budapest, Hungary. Prognosfruit 2024 was organised by WAPA in cooperation with FruitVeB (Magyar Zöldség-Gyümölcs Szakmaközi Szervezet). The meeting was opened with an address by István Nagy, Hungarian Minister of Agriculture, currently holding the rotating EU Presidency. He presented the agenda and priorities of the European Council of Agriculture Ministers. This agenda includes the future direction of the agricultural policy in challenging times and the future of the CAP, to secure the competitiveness of the production, and to address the impact of climate change, the sustainability debate, food security, labour issues, and geopolitical uncertainties.

In 2024, the apple production in the EU for the top producing countries contributing to this report is estimated to decrease by 11,3 % compared to last year to a total of 10.207.405 t. This year’s crop is also 13,6 % below the average of the previous 3 years. Regarding the main varieties, Golden Delicious production is set to shrink by 10,2 % to a total of 1.972.514 t. Gala, the second-largest variety, is expected to decrease by 11,1 % (1.350.835 t). Red Delicious is estimated to grow in production (+2,8 %), while Idared’s should be 18,4 % lower than in 2023.

The EU pear crop for 2024, on the other hand, is estimated to grow by 4,9 % compared to last year’s production with a total of 1.790.229 t. This increase is due to the recovery in Italy’s production (+120,5 % compared to 2023) and despite a reduction in the Belgian and Dutch figures (-26,6 % and -8,7 % respectively). In 2024, the production of Conference pears is estimated to decrease by 13,5 %, to 776.128 t. William BC pear production, on the other hand, should grow by 33,8 %. Abate Fetel’s production is forecasted to recover to 124.832 t (+131,8 %)

The market balance will be influenced by a relative steadiness of volume destined for the fresh market due to stable production Western part of the EU in France, Italy, and Spain. On the other hand, the Central and Eastern regions of the European Union were heavily impacted by poor blossoming, late frost, and hail, leading to lower crops in Poland, Hungary, the Czech Republic, and Austria. This will imply a lower supply for apple processing in the 2024/2025 season.

The outlook for the season is overall positive and should provide opportunities for better returns for the sector, which still faces the challenges of inflation and rising costs of the past months.

The 2024-2025 orange crop forecast for the São Paulo and West-Southwest Minas Gerais citrus belt by Fundecitrus in cooperation with Markestrat and full professors at FEA-RP/USP¹ and FCAV/Unesp², is 232.38 million boxes of 40.8 kg (90 lbs) each. This production is divided as follows (figures in parentheses indicate the drop in production as compared to the previous crop):

• 37.12 million boxes of the Hamlin, Westin, and Rubi varieties (- 36.10 %);
• 15.72 million boxes of the Valencia Americana, Seleta, Pineapple and Alvorada varieties (- 15.07 %);
• 70.97 million boxes of the Pera Rio variety (- 27.30 %);
• 81.58 million boxes of the Valencia and Valencia Folha Murcha varieties (- 22.45 %);
• 26.99 million boxes of the Natal variety (- 2.91 %).

Approximately 14.61 million boxes are expected to be produced in the Triângulo Mineiro (- 47.48 %).

Overall, the projected volume represents a significant drop of 24.36 % as compared to the previous crop that totaled 307.22 million boxes, a value close to the average for the last decade …

Please download the complete forecast under: www.fundecitrus.com.br/pdf

¹Marcos Fava Neves, Part-time Full Professor at FEA-RP/USP.
²José Carlos Barbosa, (voluntary) Full Professor at FCAV/Unesp.

Total orange production for the 2023-2024 crop season ended at 307.22 million boxes¹

The 2023-2024 orange crop for the São Paulo and West-Southwest Minas Gerais citrus belt, published by Fundecitrus – performed in cooperation with Markestrat and full professors from FEA- RP/USP and FCAV/Unesp² – concluded with 307.22 million boxes of 40.8 kg each (90 lbs), divided as follows:

• 58.09 million boxes of the Hamlin, Westin and Rubi early-season varieties;
• 18.51 million boxes of the Valencia Americana, Seleta, Pineapple and Alvorada early-season varieties;
• 97.62 million boxes of the Pera Rio mid-season variety;
• 105.20 million boxes of the Valencia and Valencia Folha Murcha late-season varieties;
• 27.80 million boxes of the Natal late-season variety.

Of the total, about 27.82 million boxes were produced in the Triângulo Mineiro region.

The season´s production was 2.22% lower in comparison to the previous crop, which reached 314.21 million boxes and was 0.69% below the initial forecast made in May 2023 …

Please download the complete forecast under: www.fundecitrus.com.br/pdf

¹Hamlin, Westin, Rubi, Valencia Americana, Seleta, Pineapple, Alvorada, Pera Rio, Valencia, Valencia Folha Murcha, and, Natal.
²Department of math and science, FCAV/Unesp Jaboticabal Campus.

All oranges 18.8 million boxes

The 2023-2024 Florida all orange forecast released by the USDA Agricultural Statistics Board is lowered 1.00 million boxes to 18.8 million boxes. If realised, this will be 19 percent more than last season’s revised production. The forecast consists of 6.80 million boxes of non-Valencia oranges (early, mid-season, and Navel varieties) and 12.0 million boxes of Valencia oranges. An 8-year regression was used for comparison purposes. All references to “average”, “minimum”, and “maximum” refer to the previous 10 seasons, excluding the 2017-2018 season, which was affected by Hurricane Irma, and the 2022-2023 season, which was affected by Hurricanes Ian and Nicole. Average fruit per tree includes both regular bloom and the first late bloom …

Please download the full citrus crop production forecast: www.nass.usda.gov

Total forecast production of oranges¹ remains at 307.22 million boxes

The third forecast for the 2023/24 orange crop in the São Paulo and West-Southwest of Minas Gerais citrus belt, published on February 09, 2024 by Fundecitrus, in cooperation with Markestrat, FEA-RP/USP and FCAV/Unesp², maintains the projection of 307.22 million boxes of 40.8 kg each, unchanged in total volume from the previous forecast. This represents a reduction of 0.7 % when compared to the initial forecast for the season. Of the total estimated production, approximately 27.76 million boxes are expected to come from the Triângulo Mineiro region …

Please download the complete forecast under: www.fundecitrus.com.br/pdf

¹Hamlin, Westin, Rubi, Valencia Americana, Seleta, Pineapple, Alvorada, Pera Rio, Valencia, Valencia Folha Murcha, and, Natal.
²Department of math and science, FCAV/Unesp Jaboticabal Campus.

Prinova has identified growing demand for ingredients for the mind as one of nine emerging food, beverage and nutrition “mega-trends”. In a new report on functional health trends, it also spotlights the increasing prominence of branded ingredients, and growing demand for “real foods”.

The leading provider of ingredients and premixes commissioned expert researchers to analyse patterns in retail and food service and to conduct social media listening. This allowed it to build a framework of nine macro-trends that will shape the industry in 2024 and beyond.

The report highlights the growing number of products containing adaptogens and nootropics, which it attributes to factors such as enduring concerns around performance, focus and “brain fog” in the wake of the pandemic. It also notes growing demand for natural sources of caffeine, such as yerba and matcha, as consumers seek “an antidote to boom and bust caffeination”. Meanwhile, ongoing talk about the stress of modern life, coupled with research on the importance of sleep and rest, has led to “an array of adaptogenic ingredients” being included in everyday food and beverage products.

The Prinova report also notes that “branded ingredients are emerging from the depths of the ingredient list, with logos making their way to the front of product packaging, “particularly in categories like plant-based and performance nutrition. Prinova’s range of branded ingredients includes enduracarb^® , a science-backed, slow-release ‘double sugar’ for endurance, and Bacopin^®, a bacopa monniera ingredient which, studies show, may help improve memory and attention.

Other mega-trends identified in the report include:

• ‘Real Food Rules’: A shift away from complicated ingredient lists as consumers embrace ingredients in their most natural, unprocessed form. This includes recognising the benefit of animal-based products again, including previously maligned elements such as full fat.
• ‘Hack my Health’: With growing interest in the way products interact with our genotypes, phenotypes and lifestyles, companies are increasingly offering personalised services to cater for unique needs.
• ‘Targeted Nutrition’: Consumers are increasingly aware of the nutritional interventions they can make to improve their wellbeing at different life stages. More knowledgeable than ever, they are looking for products with detailed claims.

James Street, Marketing Director, EMEA & APAC at Prinova, said: “Consumers are looking to food, beverage and nutrition products to meet a growing number of needs. To identify where the opportunities are, and to help our customers create innovative, new products, we’ve created a future-facing framework that identifies the most important emerging trends. We’ve seen how consumers are looking for nutritional ‘hacks’ in areas like cognitive performance and emotional wellbeing, while also yearning for a return to products with ‘real food’ or ‘natural’ credentials. And our research also shows that manufacturers are recognising branded ingredients as one of the best ways to communicate science-backed benefits and bolster credibility.”

Discover the emerging trends in the full report: https://www.prinovaglobal.com/eu/en/resources/news/2024-and-2025-trends

dsm-firmenich, a leading innovator in health, nutrition, and beauty, announces Peach+ as the 12^th annual “Flavour of the Year” for 2024. Peach+ was inspired by PANTONE^® 13-1023 Peach Fuzz, the 2024 Colour of the Year from PANTONE^®, a global colour authority and provider of professional colour language standards and digital solutions for the design community. The selections were based on emerging signals in the cultural and consumer landscape where trends in kindness, community, goodness, and comfort have all been identified as having increasing relevancy. For more than 20 years, both companies have observed many of the same trend sources, drawing inspiration from a wide variety of influences, including culinary, fashion, hair and beauty, packaging and multimedia design, home decor and interior design, architecture, art, and the cultural zeitgeist.

Peach+ is an invitation to dsm-firmenich customers to innovate with this beloved flavour, to go beyond the traditional juicy sweet aspects to also consider softer, smoother, lighter, more refreshing, textural elements.

“Now in its 12^th year, the announcement of the Flavour of the Year is an eagerly anticipated event,” said Maurizio Clementi, EVP Taste for Taste, Texture & Health at dsm-firmenich. “The delicate and natural qualities of Peach+ call for diverse applications across multiple food and beverage industries, and we are excited to see the innovations of our clients upon receiving this news.”

Empowering customers with insights into trends

The peach is one of the oldest cultivated fruits in the world, with a 4,000-year-old history that began in China and continues to this day. China is the world leader in peach production and exportation, with over 400 varietals under cultivation.

“Our research reveals that peach has many multifaceted meanings,” said Jeffrey Richard Schmoyer, VP of Human Insights for Taste, Texture & Health at dsm-firmenich. “And peach is incredibly emotional. While the peach has a long history, it also has an innovative future.”  According to Emotions 360^™, a proprietary dsm-firmenich consumer study that measures consumer emotions associated with ingredients, the peach is somewhat unique in that it has many innate qualities that contrast, such as being both indulgent and pampering, but also refreshing and revitalising, and youthful, but nostalgic.

Peach has been an evergreen fruit flavour in many categories for decades with a steady share of presence in innovations in most regions. Today, peach is growing in popularity in some regions and categories both as the primary tonality and in combination with others. The most prevalent areas of growth for peach new product development are carbonated soft drinks, nectars, candies, ready-to-drink teas, teas, flavoured alcoholic drinks, yogurt and fruit preparations, dairy drinks, juices containing peach, and fruit preserves. Other areas showing promise for growth are functional drinks and powdered soft drinks, as well as more savory opportunities for peach including side dishes, noodles, processed cheeses, and protein analogs. Peach in combination also spiked in favour of passion fruit plus peach, mango plus peach, peach plus tea, and apricot plus peach.

’’Flavour of the Year showcases emerging trends in flavour through proactive sensory experiences and creations, and completes its mission year after year, which is to empower our customers to be leaders in global trends,” says Mikel Cirkus, Global Creative Director for Taste, Texture & Health at dsm-firmenich. The company identifies countless possibilities to put the Plus in Peach for 2024, and confidently envisions how customers can lead with these emerging trends to ultimately create products with high impact and superior business relevancy.

The World Citrus Organisation (WCO) has released its annual Northern Hemisphere Citrus Forecast for the upcoming citrus season (2023-24). The Forecast was released on the occasion of the Global Citrus Outlook conference organized by WCO. The forecast is based on data from Egypt, Greece, Israel, Italy, Morocco, Spain, Tunisia, Turkey, and the United States. This year, the Forecast shows that citrus production is projected to reach 28,976,001 T, which represents a 12.2 % increase compared to the previous peak low season. The 2023/2024 forecast is 1.48 % higher than the average of the last 4 seasons.

WCO, the World Citrus Organisation, released its annual Northern Hemisphere citrus forecast for the upcoming season (2023-24). The preliminary Forecast is based on data from industry associations from the Mediterranean region and the United States. Total citrus exports are expected to follow a similar trend at 9,483,770 T, up by 11.4 % from last season and 4.5 % from the last four seasons’ average.

Philippe Binard, WCO Secretary General, summarised the outcome of the Forecast. “The market insights we received indicate a recovery from the low point of last season. The growth is mainly influenced by growth in Turkey and Egypt while other countries are stable or only recorded marginal gains”. Eric Imbert from CIRAD added, “While this year’s forecast shows a recovery with variable conditions across the producing countries and citrus categories, many parameters have to be taken into account for the market analysis”. He added: “Climatic issues, such as late frost, drought, heat waves, or new pests and diseases influenced the quality, colouring, or harvest date for the production. The market will still be impacted by geopolitical instability while consumer demand is under pressure due to limitation of purchasing power and inflation”.

Looking at the country-specific figures for the largest producers in the EU, Spain’s citrus production at 5.9 MT is up by 2 % to previous seasons, with stable soft citrus compared to last year, fewer oranges (- 6 %) and more lemons. Italy is up by 6 % at 2.6 MT, with more oranges (+ 20 %) and less soft citrus and lemons (- 10 % each), while Greece is down by 7 % to 1.1 MT. In the other Mediterranean countries, Turkey is now the market leader with a first production estimate of 6.5 MT (+ 45 %), with strong growth across all categories. The Turkish production forecast could even exceed 7 MT. This results from the increased acreage and productivity, alternance, and favourable climatic conditions. Egypt at 5.4 MT is up by 10 % from the previous season and 15 % from the average of the last 4 years. The main category is oranges with 3,7 MT (+ 5 %) while soft citrus’s double-digit growth should almost reach 1.3 MT. Morocco’s production is expected to partially recover, bouncing back to just over 2 MT, with 1 MT of soft citrus (+ 11 %) and 930,000 T of oranges. Israel’s production is estimated at 365,000 T, but the recent conflict and attack on the country is a source of multiple challenges regarding supply, logistics, and human resources for harvesting and packing. The production in the United States will be up by 1 % at 4.5 MT with more oranges ( + 10 % at 2.4 MT) but less soft citrus (- 2 % at 856,000 T) and even less so for lemon ( – 12 % at 889,000 T).

Philippe Binard added: “WCO is also setting some trends for the expected utilization of citrus for the upcoming season. The global citrus exports will be up by 11 % to reach 9,4 MT, while processing will increase by 8 % to reach 4,7 MT, leaving 14.7 MT for domestic sales (+ 14 %.). Next April, the WCO will release the 2024 production and export forecast for the Southern Hemisphere.

The yearly WAPA report was published on the occasion of the Prognosfruit held in Trentino (Italy): Italian production levels are stable, France and Spain grow, while Poland and Germany suffer a slump.

The new challenges in the apple industry will headline the Interpoma 2024, the only trade fair in the entire world specialised in apples. The trade fair will run between 21 and 23 November 2024 at the Fiera Bolzano.

During the hiatus between the South Tyrolean trade fair, which takes place every two years – the last edition was held in November 2022 – apple enthusiasts can look forward to Prognosfruit 2023, the yearly, itinerant trade fair during which WAPA, the World Apple and Pear Association, publishes a report containing forecasts on the upcoming European apple harvest. Due to WAPA’s choice of location, this year’s Interpoma supported and promoted Prognosfruit as the event’s Technical Sponsor. This meant that every fairgoer received the second edition of Interpoma’s official magazine, the Ipoma Magazine, printed on 100 % apple paper and bursting with news on the industry. Gerhard Dichgans coordinates the magazine, which goes into detail across numerous topics. The second edition focused on topics such as “Rise and Fall of a Superstar: Why the Red Delicious has gone downhill”, “Precision agriculture and AI predictions in orchards”, “Love and Craft: How Japan raised the apple to the status of cultural asset”, “Juicy Dividends in Normandy: How apples not suited for raw consumption are transformed into cider and Calvados”.

The Prognosfruit 2023 was held in Trentino (Italy) and revealed that forecast European production will reach 11,411,000 tons, a 3.3 % drop compared to last year. The country dragging production down is Poland, the largest European apple producer overall, with a – 11.1 % drop YOY. If we turn to Italy, production levels are strong yet stable, helping it maintain its second position in Europe with an estimated 2,104,000 tons. If we dig deeper, South Tyrolean and Trentino production are on the rise, respectively at + 7 % and + 4 %. Moving to upcoming trends, France and Spain have proved to be quite lively markets: Forecasts for France speak of a harvest equaling 1,501,000 tons, + 7.9 % YOY on growth and + 9.5 % compared to the average of the last three years. Spain performs even better with its 536.000 tons, representing an astounding + 30.1 % YOY growth and + 14.8 % compared to the average of the last three years. However, what goes up, must come down: That fate has befallen Germany, as estimates speak of a harvest yielding 952,000 tons, i.e. – 11.2 % YOY and – 7.9 % compared to the last triennium.

These new trends and much, much more will be in the spotlight between 21 and 23 November 2024 in Bolzano during Interpoma and the satellite Interpoma Congress, where international apple experts gather to exchange ideas and updates about the industry.

2023 -2024 orange crop forecast

The 2023 – 2024 orange crop forecast for the São Paulo and West-Southwest Minas Gerais citrus beltby Fundecitrus in cooperation with Markestrat and full professors at FEA-RP/USP and FCAV/Unesp, is 309.34 million boxes (40.8 kg). Total orange production includes:

• 56.11 million boxes of the Hamlin, Westin and Rubi varieties;
• 18.22 million boxes of the Valencia Americana, Seleta, Pineapple and Alvorada;
• 98.95 million boxes of the Pera Rio variety;
• 105.23 million boxes of the Valencia and Valencia Folha Murcha varieties;
• 30.83 million boxes of the Natal variety.

Approximately 27.02 million boxes are expected to be produced in the Triângulo Mineiro region.

The projected volume is lower only by 1.55 percent as compared to the previous crop, which totaled 314.21 million boxes. That minor difference maintains the production at the same level as in the previous crop season and within the average range for the last ten years, as shown in Graph 1. As compared to the average volume produced in the last decade, the current crop shows a slight increase of 1.04 percent …

Please download the complete forecast under: www.fundecitrus.com.br/pdf

The orange output in the citrus belt in southeastern Brazil (São Paulo and the Triângulo Mineiro) in the 2023/24 season is estimated at 309.34 million boxes of 40.8 kg each, according to data from Fundecitrus (Citrus Defense Fund) released on May 10th. This volume is 1.5 % lower than that harvested last season.

According to Fundecitrus, the major reasons for the lower harvest are rains above the historical average (although they have favoured both the vigor of trees and fruits growth, rains raised flower rotten), the negative biennial cycle (except for northern SP, where productivity was lower last season), lower blooming for some late varieties (whose harvesting was delayed and/or production was high in 2022/23) and the higher incidence of greening, which is expected to raise the rate of fruit fall. On the other hand, high moisture may favour fruits weight, which may be the highest since 2017/18.

As for productivity, the average forecast for the citrus belt is at 918 boxes per hectare, a slight 0.6 % up from that in the 2022/23 season.

Although the harvest expected in the citrus belt is within the average of the last 10 years, the needs of juice processors in SP for oranges is very high. Inventories are low, and the number of oranges to be available is not expected to be enough for stocks to recover.

Indeed, according to a report from CitrusBR released this month, the volume of juice stocked by the processors in SP in Dec/22 was 14.5 % lower than that in the same period of 2021. If this percentage continues stable until the end of the 2022/23 season (on June 30, 2023), ending stocks may total 122.3 thousand tons (juice equivalent), very low – maybe even insufficient – to meet the markets’ demand until the new season steps up.