The global juice concentrates market is estimated to be valued at USD 73.7 billion in 2022. It is projected to reach USD 93.7 billion by 2027, recording a CAGR of 4.9% during the forecast period. Juice concentrates are made by removing most of the water from the original fruit juice, leaving behind a concentrated liquid with a more intense flavor and higher sugar content than the original juice. The resulting concentrate can be stored more easily and takes up less space than the original juice, making it a popular choice for manufacturers and consumers alike.
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Key Highlights the Juice Concentrates Market
1. Growing Demand: The juice concentrate market has witnessed significant growth in recent years, driven by increasing consumer demand for convenient and long-lasting fruit juice products.
Health and Wellness Trends: Consumers are increasingly looking for natural and healthier alternatives to sugary beverages, and juice concentrates are perceived as a better option due to their concentrated fruit content.
Wide Product Range: The market offers a diverse range of juice concentrates, including apple, orange, pineapple, and more. This variety caters to various taste preferences and applications in the food and beverage industry.
Versatile Applications: Juice concentrates find applications not only in the production of juices but also in the manufacturing of jams, sauces, desserts, and alcoholic beverages. This versatility expands their market potential.
Long Shelf Life: Concentrated juices have an extended shelf life compared to fresh juices, making them a popular choice for both consumers and foodservice providers.
Rising Health Awareness: As consumers become more health-conscious, manufacturers are introducing low-sugar and organic juice concentrate options to meet this demand.
Fruit Juice Concentrates are in High Demand
Fruit juice concentrates are used in a variety of industries, such as beverage, bakery & confectionery, food, and alcohol. Fruit juice concentrates, such as apple concentrates and pear concentrates, are used as sugar substitutes in the bakery & confectionery industry, in the production of cakes, cookies, and pasteries.
Fruit juice concentrates witness high demand around the world, as there is an increasing awareness regarding living a healthy life and consuming healthy products among consumers in both developed and developing countries. Fruits such as orange, apple, and pineapple have significant demand due to their health benefits. These concentrates, especially red grape, are also used in the wine industry. Countries, such as Australia, that produce wine on a large scale have a good market opportunity for growth of the red grape concentrate market.
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Beverages Segment is Gaining Traction in the Global Juice Concentrates Market
Fruits and vegetable concentrates are widely applicable in the beverage industry. Fruits concentrates are especially used in the production of both alcoholic and non-alcoholic beverages. Fruit and vegetable juice concentrates are used in various beverages such as energy drinks, juices, tea, and smoothies and are available in different forms such as frozen, crystallized, or liquid. Fruits such as grapes and apples are the common fruits used to produce alcoholic beverages. Moreover, exotic superfruits, such as juniper berries and passion fruits, are also utilized to make alcoholic beverages. The beverage industry, which is growing globally in all the major regions, such as North America, Europe, Asia-Pacific, and Latin America, demands fruits and vegetables to produce new and innovative beverages. The huge soft drinks market in developing nations, such as India and China, needs fruits and vegetable concentrates on produce soft drinks based on consumer demand.
Asia Pacific is projected to be the fastest-growing region in the global juice concentrates market
Asia-Pacific is projected to be the fastest-growing region in the global juice concentrates market with the highest CAGR. The main countries contributing significantly toward the region’s growth include China, India, Japan, Australia, and New Zealand. The rapidly growing fast-food industry and young demography in the Asia-Pacific region have led to an increase in the consumption of convenience food, which is expected to enhance the growth of the market for juice concentrates. The growth of the juice concentrate market is proportionally dependent upon the growth of the convenience and health food industry. The demand for juice concentrates is anticipated to increase in the Asia-Pacific region due to Western dietary habits, rising disposable income, and changing lifestyles of people in countries such as China, India, and Japan.
The key players in this market include Archer Daniels Midland Company (US), Südzucker AG (Germany), Ingredion Incorporated (US), SunOpta, Inc (Canada), Kerry Group PLC (Ireland), IPRONA SPA (Italy), Symrise AG (Germany), Döhler Group SE (Germany), SVZ International B.V (Netherlands), and Kanegrade Limited (UK).
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