Juice Concentrates Market Size, Share, Comprehensive Analysis, Opportunity Assessment by 2028

Growing Application of Juice Concentrates Favors Juice Concentrates Market Growth
According to our latest study on "Juice Concentrates Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Category, Form, and Application,'' the market is expected to grow from US$ 67,210.96 million in 2022 to US$ 97,541.12 million by 2028; it is estimated to record a CAGR of 6.4% from 2022 to 2028.

Juice concentrates are used in various food applications such as bakery and confectionery, beverages, and dairy & frozen desserts as they provide sweet flavor, along with nutrition. The demand for beverages is growing due to the rising adoption of vegetable and fruit juices as an alternative to aerated drinks, mainly by health-conscious consumers. Also, the rapid growth in the preference for natural sweeteners is boosting the growth of the global juice concentrates market, as juice concentrate is widely used in many baked items as an alternative sweetener. The increasing use of natural sweeteners in bakery & confectionery and dairy & frozen desserts is fueling the demand for juice concentrates. For example, fruit juice concentrates such as pear concentrates and apple concentrates are used as sugar substitutes in the bakery & confectionery industry for various applications such as the production of cakes, cookies, and pastries. As consumers are becoming more conscious of their health and their food habits, the demand for natural and healthy products such as juice concentrates is also increasing. Therefore, the growing application of juice concentrates, such as an alternative to sugar, is driving the growth of the juice concentrates market.

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Impact of COVID-19 Pandemic on Juice Concentrates Market
During the COVID-19 pandemic, many socioeconomic situations negatively affected the consumption pattern of particular products. Governments of various countries imposed restrictions to contain the spread of COVID-19, which caused the death of many farmers. Further, the production surpassed the consumer's demand in the initial months of the pandemic, which led to significant fluctuations in the prices of fruits and vegetables used for manufacturing juice concentrates. Moreover, the shutdown of production plants of application industries such as beverages, dairy, and frozen desserts negatively impacted the juice concentrates market.

In addition, in 2021, several economies resumed operation as governments of various countries announced relaxation in the previously imposed restrictions, which boosted the global marketplace. Moreover, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap and other repercussions. As a majority of the global population was fully vaccinated by 2021, the juice concentrate manufacturers focused on increasing production to revive their businesses.
Further, the COVID-19 pandemic had a long-term favorable impact on the juice concentrate market. Hence, the demand for juice concentrates surged owing to increasing consumer demand for organic and clean-label products. Consumers increasingly preferred immunity-boosting and nutritious products owing to the rising number of COVID-19 patients. Due to the adverse impacts of the COVID-19 pandemic, consumers have been increasingly attentive to their health and wellness. Furthermore, the market witnessed an increased demand for ready-to-drink beverages with high nutritional content, which fueled the need for juice concentrates. As consumers' focus increased on clean-label and natural products during the pandemic, the need for juice concentrates also grew across the globe.

The report segments the juice concentrates market as follows:
Based on type, the juice concentrates market is bifurcated into fruit juice concentrates and vegetable juice concentrates. Based on category, the market is divided into organic and conventional. Based on form, the juice concentrates market is bifurcated into powder and liquid. Based on application, the juice concentrates market is segmented into bakery and confectionery; beverages; soups, sauces, and condiments; dairy and frozen dessert; and others. Based on geography, the juice concentrates market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

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This release was published on openPR.