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Unveiling Juices and Juice Concentrates Market Trends and Forecasts for 2032 || Welch Foods Inc., SVZ International B.V., Sudzucker AG
Juices And Juice Concentrates Market
The Business Research Company's Juices And Juice Concentrates Global Market Report 2023 identifies the expansion of the food and beverage sector is the major driver for the juices and juice concentrates market's growth in the forecast period. The food and beverage sector encompasses all organizations that process, package, and distribute raw food products. Consumers are preferring beverages with healthier option and these juices and juice concentrate acts as a replacement for sugar and flavoring agents juices, and contributing to a healthy beverages options, as a result, the expansion of the food and beverage sector boosts the growth of the juices and juice concentrate market. For instance, in December 2022, according to a report published by FoodDrinkEurope, a Food industry confederation in the European Union, the EU food and drink industry turnover was €1,121 billion ($1185.74 billion) in 2022 up from €1,093 billion ($1157 billion) in 2021. Therefore, the expansion of the food and beverage sector is driving the juices and juice concentrates market.
The global juice and juice concentrates market size is expected to grow from $37.54 billion in 2022 to $39.83 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global juice and juice concentrates market size is expected to reach $48.19 billion in 2027 at a CAGR of 4.9%.
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Major competitors in the juices and juice concentrates market are Welch Foods Inc., SVZ International B.V., Sudzucker AG, Ingredion Incorporated, DöhlerGroup, Symrise AG, Kanegrade Limited, ADM, Ocean Spray Cranberries Inc.
A key trend in the juices and juice concentrates market includes product innovation. Major companies operating in the juices and juice concentrates market are focused on developing new products to strengthen their position in the market. For instance, in October 2022, The EVERY Co., a US-based biotechnology company that develops proteins and other products traditionally sourced from animals, launched BUILD in partnership with Pulp Culture+. BUILD is the world's first protein-boosted hard juice, a hyper-functional Full SpectrumTM beverage infused with probiotics, adaptogens, source-verified super fruits, superfoods, and animal-free EVERY Protein. This requires no masking agents, sugar, or other unnecessary additives. It includes trendy ingredients such as cordyceps, ashwagandha, and 5 grams of Protein.
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The juices and juice concentrates market is segmented -
1) By Type: Juices, Juice Concentrates
2) By Concentration: Concentrated, Non-concentrated
3) By Distribution Channel: Supermarket Or Hypermarkets, Convenience Stores, Specialty Food Stores, Online Retail, Other Distribution Channels
4) By Application: Bakery And Confectionery, Beverages, Dairy Food, Soups And Sauces, Other Applications
5) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the juices and juice concentrates market.
The Business Research Company's "Global Juices And Juice Concentrates Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Juices And Juice Concentrates Market Include:
1. Executive Summary
2. Juices And Juice Concentrates Market Characteristic
3. Juices And Juice Concentrates Market Trends And Strategies
4. Juices And Juice Concentrates Market - Macro Economic Scenario
5. Juices And Juice Concentrates Market Size And Growth
……………
27. Juices And Juice Concentrates Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Juices And Juice Concentrates Market
29. Juices And Juice Concentrates Market Future Outlook And Potential Analysis
30. Appendix
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