Juice Concentrates Market Size, Share, Industry Analysis, Top Key Players, and Forecast (2022 – 2027)
The global juice concentrates market is projected to expand with an exceptional compound annual growth rate (CAGR) of 4.9% from 2022 to 2027. This growing trend is projected to increase the market value from $73.7 billion in 2022 to an impressive $93.7 billion by the end of 2027.
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.
Some of the advantages of using juice concentrates include a longer shelf life, easy transportation and storage, consistent flavor, and reduced shipping costs due to the removal of water from the product.The global market is expanding at a rapid pace, with a promising outlook that highlights the increasing demand for these versatile ingredients in a variety of food and beverage products. These highly concentrated juices are becoming increasingly popular due to their convenience, extended shelf life, and versatility in a wide range of food and beverage applications. As consumers become more health-conscious and demand easy-to-use products, juice concentrates are seen as a natural and healthy alternative to traditional juice products. This growth is being fueled by a variety of factors, including the trend towards health and wellness, the convenience and versatility of juice concentrates as an ingredient, and the increasing demand for these products in emerging economies.
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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 concentrates market.
Oranges will have the highest CAGR during the forecast period in terms of value
The ever-increasing demand for fruit juices in every corner of the world is the key factor driving the global growth of orange concentrate goods. Orange juice concentrates are rich in vitamin C. Immunity-boosting, cognitive-boosting, and mood-boosting beverages are in high demand, and consumers want these advantages in their beloved fruit juices as well. To emphasize functional component combinations, orange will be blended with various berry, botanical, and citrus elements. Rising demand for convenience products in developed regions of North America and Europe is leading to an increasing demand for orange concentrates.
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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 concentrates 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). These companies are known for their strong presence in the global Juice concentrates market and have a wide range of products and services. They are involved in the production, processing, and distribution of Juice concentrates and hold a significant share in the global market. They also invest heavily in research and development to create new products and improve existing ones to cater to the evolving market trends and customer needs.
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