Apple juice concentrate is the product obtained by evaporating a part of water from fresh apple juice to increase the sugar content. It is available in forms such as frozen concentrate, clear and cloudy concentrate, and frozen pulp. Apple juice concentrate is widely used to manufacture a variety of food and beverage products such as juice blends, nectars, isotonic drinks, and baked goods. The rising demand for fruit juice concentrates to manufacture healthy beverages has propelled the growth of the apple juice concentrate market. Apple juice concentrate offers several health benefits such as a good source of vitamin C and antioxidants, helps improve gastrointestinal health, reduces cholesterol levels, and is helpful in weight management. It provides a convenient and affordable solution for incorporating apple taste and nutrition into various products.
The Global apple juice concentrate market is estimated to be valued at US$ 3.2 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Apple Juice Concentrate market are Archer Daniels Midland Company, Green Plains Inc., POET LLC, Valero Energy Corporation, Cargill, Incorporated, Pacific Ethanol Inc., Flint Hills, Resources, The Andersons, Inc., Greenfield Global, LyondellBasell Industries N.V.
Key players in the market are focusing on expanding their production capacities and product portfolios to meet the rising demand for apple juice concentrates. For instance, in 2021, Archer Daniels Midland Company invested US$ 150 million to expand its apple juice concentrate production facility in Europe.
The apple juice concentrate market is expected to witness lucrative growth opportunities in emerging economies of Asia Pacific and Latin America driven by increasing health consciousness and rising consumption of fruit juices. Key market players are strategizing expansions in these regions through partnerships and acquisitions to capture new customers.
Global expansion of apple juice concentrate market size players through partnerships, joint ventures and acquisitions is further expected to drive the worldwide availability and consumption of apple juice concentrate products in the forecast period. For example, in 2022, Cargill opened a new apple juice concentrate facility in China through a joint venture with Chinese edible oil company Xiwang Foodstuffs, to cater to the growing Chinese market.
Market drivers:
Growing health awareness: Increasing focus on nutrition, fitness and well-being has raised the demand for fruit juices which offer various health benefits. The nutritional profile of apple juice concentrates make them popular among health-conscious consumers.
Product innovation: Introduction of novel products incorporating apple juice concentrates like nutrient-fortified juices, flavored nectars and functional beverages have opened new application avenues thus propelling the market growth.
Market restrain:
Price volatility of apple fruits: Being an agricultural commodity, the prices of fresh apples depend on various factors like crop yield, quality, weather conditions etc. Any fluctuation in raw material prices poses challenges for apple juice concentrate manufacturers in terms of maintaining consistent supply and costs.
Segment Analysis
This Apple Juice Concentrate Market can be segmented on the basis of Product Type as Clear and Cloudy Concentrates. The clear concentrate segment is dominating the market currently as it has higher applications like being used in beverages, dairy, bakery products etc. It provides clarity while retaining original flavor and color of apples.
Global Analysis
Regionally, the North America region holds the largest share in the overall Apple Juice Concentrate Market currently. The USA and Canada are major producers and consumers of apple juice concentrates in the region. The growth in the region can be attributed to rising health awareness among consumers regarding fruit juices with no added sugars. The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to rising disposable incomes, increasing consumers preference towards healthy beverages and growing demand from countries like China and India.
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