NEWARK, DE / ACCESSWIRE / March 17, 2023 / The juice concentrate market size is projected to be valued at US$ 57,618.0 million in 2023 and is expected to rise to US$ 94,645.1 million by 2033. The sales of juice concentrate are expected to secure a significant CAGR of 5.0% during the forecast period.
Organic foods are becoming popular among consumers because they contain healthy ingredients and are produced without the use of pesticides or chemicals. As people become more health-conscious, there is an increasing demand for organic juice concentrate that mimics the flavor and taste of fruits.
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Juice concentrates are used in restaurants, bars, and other high-volume food service establishments where food and beverages are consumed in huge quantities. Fruit flavors, beverage solutions (premix), and fruit juice concentrates with high-quality syrups are among the food service products available. These items can be found in sundaes, ice creams, beverages, milkshakes, smoothies, and bakery items.
Customers are willing to pay a premium for custom-made premium food and beverages because their taste, textures, and flavors are exquisite and one-of-a-kind. The food service industry ensures that it meets the expectations of its customers by providing a diverse range of innovative beverage solutions with high fruit content, experience, and expertise.
Key Takeaways from the Juice Concentrate Market:
- Bakery & confectionery, dairy, beverages, and soups & sauces are the application segments. With a market share of around 27% in 2023, the beverages segment dominated the market. Fruit and vegetables are required to meet consumer demand in the sizable market for soft drinks in developing countries such as China and India.
- The type segment is divided into two categories: vegetable and fruit. With a market share of around 52.7% in 2022, the fruit segment dominated the market. Fruit juice concentrates, such as apple and pear concentrates, are used as sugar substitutes in the bakery and sweets industry when making cookies, cakes, muffins, and pastries.
- Currently, India holds a commanding growth rate of 30.7% in the Asia Pacific region. The expansion of easy-to-drink beverages and healthy food is critical to the growth of the juice concentrates market. The demand for juice concentrates is expected to rise in the Asia Pacific region as a result of changing diets in western countries, rising net income, and changing lifestyles in the region.
- The form segment is divided into two categories: liquid and powder. With a market share of around 57.7% in 2022, the liquid segment dominated the market. Because of its ease of use and consumption, preparation is far more suitable and accessible, especially when time is of the essence. As a result, it is widely consumed by working people who have little or no time to prepare food.
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Competitive Landscape:
The global juice concentrate market is highly competitive due to the presence of numerous domestic and international players. The key global strategies adopted by the leading companies in the fruit concentrate market are new product launches, partnerships, expansions, and acquisitions. Döhler, Ingredion Inc., Kerry Inc., and Archer Daniels Midland Company are some key global fruit concentrate market players.
Latest Developments:
Kerry Group plc debuted an extract technology in September 2020 that allows innovators to formulate citrus fruit flavor essences labeled as natural extracts. The technology gives flavored NPD a long, full-bodied finish. It is labeled as New! The solution, Citrus Extract, was created using Kerry's non-thermal liquid/liquid extraction process, which yields highly concentrated extracts with significantly low levels of terpenes and sesquiterpenes.
In December 2020, Vie-Del Company, California's oldest family-owned grape processor and supplier of bulk juices, concentrates, brandy, wine, and spirits, announced the acquisition of Constellation Brands U.S. Operations Inc., a wholly-owned subsidiary of Constellation Brands Inc., of the Canandaigua Concentrate High-Color Concentrate and standard grape concentrate business lines.
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Key segments
Product Type:
- Vegetables
- Fruits
By Form:
- Powder
- Liquid
End Use:
- Food and Beverage Industry
- Confectionery & Bakery
- Dairy Products
- Soft Drinks
- Tea
- Alcoholic Beverages
- Dietary Supplements
- Cosmetics & Personal Care Industry
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
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Table of Content
1. Executive Summary | Juice Concentrate Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Celery Juice Market Share: The Celery Juice market is anticipated to expand at a CAGR of 6.30% during the forecasted period. According to Forecasts, the market would be worth US$ 27,021.6 Million by 2033, up from US$ 14,668.30 Million in 2023.
Sugar Beet Juice Extract Market Trends: Global Sugar Beet Juice Extract Market demand is anticipated to be valued at US$ 5.09 in 2022, forecast to grow at a CAGR of 5.6% to be valued at US$ 8.8 Billion from 2022 to 2032.
Soft Drinks Concentrates Market Outlook: The Soft Drinks Concentrates Market is valued at US$ 35.2 Billion in 2022 and is projected to grow at a CAGR of 4.2% during the forecast period, to reach a value of US$ 53.1 Billion by 2032.
Fragrance Concentrates Market Forecast: The market for fragrance concentrates will grow at a CAGR of 5.4% during the estimated period. The market's estimated value is expected to increase from USD 6,421.5 Mn in 2022 to USD 10,865.3 Mn in 2032.
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