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Juice Concentrates Global Market Report 2024 - By Share, Trends, Demand, Growth, Forecast To 2033
Juice Concentrates Market
Juice Concentrates Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $82.56 billion In 2028 At A CAGR Of 6.5% :
The juice concentrates market size has grown strongly in recent years. It will grow from $60.61 billion in 2023 to $64.11 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to growing demand for convenience foods, flavor diversity, expansion of retail channels, globalization of trade, shift towards healthier beverage choices.
The juice concentrates market size is expected to see strong growth in the next few years. It will grow to $82.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to evolving dietary patterns, clean label movement, focus on sustainable practices, increased awareness of health benefits, consumer demand for personalized flavors. Major trends in the forecast period include plant-based alternatives, low or no sugar variants, blockchain integration, smart packaging, premiumization.
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Juice Concentrates Market Major Segments
The juice concentrators market covered in this report is segmented -
1) By Type: Fruit, Vegetables
2) By Nature: Organic Juice Concentrate, Conventional Juice Concentrate
3) By Form: Clear Concentrate, Powdered Concentrate, Frozen Concentrate
4) By Application: Beverages, Soups and Sauces, Dairy, Bakery and Confectionery, Other Applications
5) By End Use: Food Industry, Beverage Industry, Foodservice, Retail/Household
Key Driver - Juice Concentrates Market Thrives On Consumer Demand For Convenient And Healthy Food Options
The rise in consumer preference for convenient food and beverage products are driving the growth of the juice concentrates market. Convenient or convenience foods refer to processed foods that are ready-to-eat commonly served at restaurants or sold at grocery stores such as room-temperature products, shelf-stable products, or frozen products that can be prepared and consumed directly with minimum or no effort in preparation. Juice concentrates are used to enhance natural colors, flavors, and sweeteners in food and beverage products and provide a more convenient, affordable, and equally healthy source of antioxidants that attract most low-income consumers. For instance, in March 2022, according to the Australian Bureau of Statistics, an Australia-based independent statutory agency, approximately 14.7 million tons of food and non-beverages were sold in the year 2020-21 as compared to the previous year's increase by 1.4% in Australian grocery stores, convenience, and specialty food stores. Additionally, according to retail intelligence platform, Bizom, sales of ready-to-eat products in India, surged 9.1% in August from July 2021. Therefore, the rise in consumer preference for convenient food and beverage products is expected to propel the growth of the juice concentrates market going forward.
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Prominent Trend - Strategic Collaborations Transforming The Landscape Of The Juice Concentrates Market
Strategic collaborations and partnerships is a key trend gaining popularity in the juice concentrates market. Companies in the market are focusing on partnerships to develop innovative products and improve market presence. For instance, in September 2021, French premium chocolate manufacturer, Valrhona collaborated with Switzerland based fruit juice products company, Koa to create Oabika, a new cocoa fruit juice concentrate for chefs and gastronomy professionals. The collaboration taps into the trend of using upcycled ingredients that complements the range of cocoa fruit ingredients. The new product is suitable for many applications, including ganache, jellies, mousses, toppings, sauces, glazes, creams, ice creams, sorbets, and beverages.
Juice Concentrates Market Players
Major companies operating in the juice concentrates market report are The Archer-Daniels-Midland Company, Louis Dreyfus Company B V, Kerry Group plc, Südzucker AG, Ingredion Incorporated, Symrise AG, AGRANA Beteiligungs-AG, Sensient Technologies Corp, NW Naturals Inc., Welch Foods Inc., DOHLER GmbH, Diana Group, Tree Top Inc., SunOpta Inc., Sleaford Quality Foods Ltd., Bell Flavors & Fragrances GmbH, Ventura Coastal LLC, FruitSmart Inc., Milne Fruit Products Inc., Kanegrade Limited, Prodalim Group, Northwest Naturals LLC, SVZ International B.V, IPRONA SpA, Lemonconcentrate SLU, Flingo Foods And Agro P. Ltd., Ciatti Company, Encore Fruit Marketing Inc., BMT Weiser LLC, Tricom Fruit Products Limited, Muhtaroğlu Group, Nam Viet Foods & Beverage JSC, Steinhauser Group, Shimla Hills, Bösch Boden Spies GmbH & Co KG, Binder International GmbH & Co KG, China Haisheng Juice Holdings Co Ltd., AGRO-WODZISŁAW Sp. z o.o. ., beckers bester GmbH, AMAZONAS Naturprodukte GmbH
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Largest And Fastest Growing Region In The Market
North America was the largest region in the juice concentrates market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the juice concentrates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Juice Concentrates Market Report Structure
3. Juice Concentrates Market Trends And Strategies
4. Juice Concentrates Market - Macro Economic Scenario
5. Juice Concentrates Market Size And Growth
…..
27. Juice Concentrates Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Fruit concentrates are derived from fruits by exposing them to high temperatures to get rid of the water portion from the fruit, leaving behind fruit pulp with all the goodness of the fruit as fruit concentrate to prepare fruit juices and sorbets.
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This process of removing the water portion from the fruit reduces the bulk of the concentrate, which makes it less expensive for storage, warehousing, shipping, and transportation.
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