The juice concentrates market has been a significant segment within the global beverage industry. Juice concentrates are concentrated forms of fruit or vegetable juices, typically obtained by removing the water content from the juice. This process helps in reducing the volume for transportation and storage, while also extending the product's shelf life. At a 4.9% CAGR, the global juice concentrates market is projected to grow at US$ 93.7 billion by 2027. In 2022, its valuation was US$ 73.7 billion.
Key points about the juice concentrates market include:
Types of Juice Concentrates:
- Fruit Concentrates: Common fruits used for concentrates include orange, apple, grape, pineapple, and others.
- Vegetable Concentrates: Tomato concentrate is a prominent example.
Applications:
- Juice concentrates are used in various industries, including the production of beverages, bakery products, dairy, and confectionery.
- In the beverage industry, they are utilized for making fruit juices, nectars, soft drinks, and other flavored drinks.
Market Drivers:
- Demand for Natural Ingredients: Consumers are increasingly seeking products made with natural ingredients, and juice concentrates often meet this demand.
- Convenience and Shelf Life: Concentrates offer convenience in handling and transportation and have an extended shelf life compared to regular juices.
Market Trends:
- Functional Beverages: Juice concentrates are being used in the production of functional beverages, incorporating health-promoting ingredients.
- Clean Label: There is a growing trend towards clean label products, driving the demand for concentrates without artificial additives or preservatives.
Regional Markets:
- The market is influenced by regional factors, with different fruits being more prominent in specific areas.
- Developing countries may experience increased consumption as their economies and middle-class populations grow.
Challenges:
- Health Concerns: Despite the natural aspect, some concentrates may have high sugar content, leading to concerns about their impact on health.
- Competition from Fresh Juices: The rise of fresh and cold-pressed juices poses a challenge to the concentrates market.
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The beverages segment is expected to dominate the juice concentrate market
The beverage industry is one of the most flourishing industries in the world and is influencing the juice concentrates indusry globally. Manufacturers are introducing new and innovative products to the market to suit the demand of the people who prefer fruit flavors in their drinks. Moreover, the health-conscious public has a high demand for health and energy drinks which has further driven the juice concentrates market as juice concentrates provide the required nutrition in these drinks. There is a high demand for flavored milk in developed regions such as Europe, which has led to the demand for fruit concentrates in milk to satisfy the consumers taste buds.
North America is projected to be the second-largest market in juice concentrate industry.
The North American juice concentrates market has an important share in the markets of fruits such as cranberry, lime, and lemon. The markets within North America studied for this report are the US, Canada, and Mexico. The U.S. contributes to two-thirds of the global cranberry production, and hence, the number of manufacturers of cranberry concentrates in this country is high. The juice concentrate market in Canada faces competitive pressure and unfavorable consumer trends. The manufacturers are most strongly affected by the change in per capita income, health trends, prices of substitutes, and weather conditions. This is due to the geographic location of the country. The increased demand for convenience food products offers growth opportunities to juice concentrate manufacturers. Major players in the juice concentrate market in the region are also innovating their product offerings to improve their product portfolios.
Leading organizations outlined
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).
Key questions addressed by the juice concentrates market report -
How big is the global juice concentrates market in the coming years?
What was the size of the global juice concentrates market in 2022?
What is the target market for juice products?
Who are the juice concentrates manufacturers and suppliers in the USA?
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