Juice Concentrates Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The global Juice Concentrates Market size is projected to reach a CAGR of 5.3% from 2023-2030.

Juice concentrates refer to fruit and vegetable juice with low water content. These are known to be more affordable as compared to normal juices. The shelf life of the product is increased with the removal of water reducing bacterial growth. Whole fruit is thoroughly washed, rinsed, squashed, or mixed for making pulp. The water is generally evaporated and extracted which is beneficial as they are rich in nutrients, and enhances skin health.

The rise in health consciousness, especially in developed countries acts as one of the major factors driving the growth of the juice concentrates market. The increase in the adoption of vegetable and fruit juices as an alternative to aerated drinks by health-conscious consumers, and the rise in the popularity of convenience food & beverage products accelerate the market growth. The increase in usage as a substitute for sugar in the bakery sector, and rise in health concerns among consumers, and the demand for products made from natural and healthy ingredients further influence the market. Additionally, the expansion of the confectionery and bakery industry, the surge in disposable income, consumer preference towards convenience foods & ready-to-eat products, and increased disposable income in developing markets positively affect the juice concentrates market. Furthermore, convenient & cheaper alternative in various applications extends profitable opportunities to the market players during the forecast period.

On the other hand, a rise in awareness regarding the ill effects of excess consumption of fructose in juice concentrates is expected to obstruct market growth. Concerns regarding the ill effects of excess fructose consumption are projected to challenge the juice concentrates market in the forecast period.

Globally, the COVID-19 epidemic has significantly altered people's lives, with new cases occurring daily. Its impact differs by industry. Customers are apprehensive in the middle of the pandemic fear and terror. In the current circumstances, it is crucial to increase immunity against coronavirus, maintain cleanliness, and adhere to all medical instructions. This has increased consumer demand for functional foods and beverages, which will propel the market outlook for juice concentrates in the future years.

Delvens Industry Expert's Standpoint

The desire for natural and nutritious beverages is driving the growth of the juice concentrates market. With a few major firms controlling a sizable portion of the market and a sizable number of smaller players operating locally or regionally, the industry is somewhat concentrated. Smaller competitors, who sometimes concentrate on specialty or local markets, are likewise a key source of rivalry.

The market is anticipated to expand over the next few years as a result of rising consumer awareness of the health advantages of natural drinks. Changing customer tastes and worries about the environmental effect of juice manufacturing, however, might pose problems for the sector. Overall, there are possibilities in the juice concentrates market for both established firms and new entrants looking to join this expanding sector.

Market Portfolio

Key Findings

• The type segment is further segmented into Fruit juice concentrates and Vegetable juice concentrates. Fruit juice concentrates are anticipated to be in high demand during the forecast period. Increasing awareness regarding living a healthy life and consuming healthy products among consumers in both developed and developing countries. Fruits such as oranges, apples, and pineapples have significant demand due to their health benefits. These concentrates, especially red grapes, are also used in the wine industry.

• The application segment is further fragmented into beverages, Soups and sauces, Dairy, Bakery & confectionary, and others. The beverages segment is expected to dominate the market during the forecast period. Fruit and vegetable juice concentrates are used in various beverages such as energy drinks, juices, tea, and smoothies and are available in different forms such as frozen, crystallized, or liquid. The huge soft drinks market in developing nations, such as India and China, needs fruits and vegetable concentrates on producing soft drinks based on consumer demand and this is propelling the growth of the segment.
   
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The Asia Pacific region is expected to be the fastest-growing market during the forecast period 2023-2030. 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.

Regional Analysis

Asia Pacific to Dominate the 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.

Competitive Landscape

• SunOpta
• Diana Group
• Döhler
• SVZ Industrial Fruit & Vegetable Ingredients
• Kanegrade Ltd.
• Northwest Naturals.
• Welch’s
• Shimla hills.
• LemonConcentrate S.L.
• NAM VIET F&B
• Iprona AG
• Sunmet Juice Company
• California Concentrate
• W. KÜNDIG & CIE AG
• Jns Commodities & Specialities Private Limited.
• NationalRaisin Company
• Himalayan Food Park.
• Ingredion Incorporated
• AGRANA Beteiligungs-AG
• ADM

Recent Developments

• In September 2021, Ingredion Incorporated established manufacturing facility units in Canada. The new state-of-the-art facility's operating standards are aligned with Ingredion's stringent manufacturing and quality standards.
   
• In September 2021, Kerry Group PLC completed the acquisition of Hare Topco, Inc trading as Niacet Corp. Niacet is a global market leader in technologies for preservation.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
   
• Gain authentic and granular data access for Juice Concentrates Market so as to understand the trends and the factors involved in changing market situations.
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope