The latest market report published by Credence Research, Inc. “Global Juice Concentrates Market: Growth, Prospects, and Competitive Analysis, 2016 – 2030“. The global juice concentrates market generated revenue of around USD 73.1 billion in 2022 and is anticipated to grow a CAGR of over 5.20% during the forecast period from 2018 to 2030 to reach around USD 104.2 billion in 2030.
One of the main factors boosting the market for juice concentrates is the development of health consciousness, particularly in industrialized nations. The market is growing due to consumers being more health-conscious, switching from aerated drinks to vegetable and fruit juices, and the growing appeal of convenience food and beverage items. The rise further influences the market’s use of stevia as a sugar substitute in the bakery industry, consumer health concerns, and the demand for goods created with natural and healthy components. On the other hand, increased knowledge of the negative effects of excessive fructose consumption in juice concentrates is anticipated to restrain market expansion.
The global juice concentrates market is segmented into type, application, ingredients, form, and geography. Based on type, the juice concentrates market is categorized into fruit juice concentrates (orange, apple, pineapple, red grapes, berries, others), vegetable juice concentrates (carrot, cucumber, tomato, onion & garlic, others). Based on application, the global juice concentrates market is segmented into beverage (nectar, fruit juice, powdered juice, others), soups & sauces, diary, bakery & confectionery and others. Based on ingredients, the market is categorized into Single fruit/vegetable concentrates and multi-fruit/vegetable concentrates. Based on form, the market is categorized into clear concentrate, powdered concentrate and frozen concentrate. Based on geography, the juice concentrates market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
In 2022, North America is expected to occupy the largest juice concentrates market share in revenue and sales due to the large number of juices consumed and rising demand from vegan Americans. Due to rising U.S. production and exports of fruit and vegetable juices, which will increase demand for the region’s products during the forecast period, the region is expected to maintain its leadership. Juice concentrates are a product that many producers in North America are selling, which contributes to the market’s expansion.
Juice Concentrates Market major players analysis is a crucial aspect of understanding the dynamics of this industry. The market is dominated by several key players such as Archer Daniels Midland (ADM), Döhler Group, Ingredion Incorporated, Kerry Group, and Sudzucker AG. These companies have been actively involved in strategic collaborations and partnerships to expand their business operations across the globe. For instance, Döhler Group acquired California-based concentrate supplier Teawolf in 2016 to strengthen its position in the North American market. Similarly, ADM partnered with GLG Life Tech Corporation to launch low-calorie sweeteners made from stevia plants. Such initiatives are expected to drive innovation and growth for these major players in the juice concentrates market.
The global juice concentrates market is expected to witness significant growth in the coming years, driven by various factors such as increasing demand for natural and healthy beverages, rising consumer preference for convenience food products, and growing demand for premium juices and beverages.
- One of the key factors driving the growth of the market is the increasing demand for natural and healthy beverages. With the rising health awareness among consumers, there has been a growing demand for natural and healthy beverages such as fruit juices, vegetable juices, and smoothies. Juice concentrates are an ideal choice for manufacturers as they are rich in vitamins and minerals and have a longer shelf life.
- Another factor driving the growth of the market is the rising consumer preference for convenience food products. With the busy and hectic lifestyle of consumers, there has been a growing demand for convenient and ready-to-drink beverages that can be consumed on-the-go. Juice concentrates are a popular choice among consumers as they are easy to prepare and offer the same taste and nutritional benefits as fresh juices.
- Moreover, the growing demand for premium juices and beverages is expected to drive the growth of the market. Consumers are willing to pay a premium price for high-quality and premium juices and beverages, which has led to the introduction of a wide range of premium juice concentrates in the market.
- In addition, the increasing use of juice concentrates in the food and beverage industry, such as in the production of bakery products, confectionery, and dairy products, is expected to boost the growth of the market. Juice concentrates are used as a natural sweetener and flavoring agent in these products, providing enhanced taste and nutritional benefits.
- Overall, the juice concentrates market is expected to witness significant growth worldwide due to the increasing demand for natural and healthy beverages, rising consumer preference for convenience food products, growing demand for premium juices and beverages, and the increasing use of juice concentrates in the food and beverage industry.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global juice concentrates by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
- In-depth analysis of the global juice concentrates segmentation based on type, application, ingredients, form, and regional integration.
- The global juice concentrates report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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