CHICAGO, May 27, 2022 /PRNewswire/ — According to research report “Juice Concentrate Market by Type (Fruit & Vegetable), Application (Beverages, Soups & Sauces, Dairy, Bakery & Confectionery), Ingredients (Single & Multi Fruit & Vegetable), Form & Region – Global Forecast to 2027published by MarketsandMarkets™, the global juice concentrate market is valued at US$73.7 billion in 2022. It is predicted to reach US$93.7 billion by 2027, recording a CAGR of 4.9% over the forecast period. As part of the transition to a clean and healthy lifestyle, there has been an increase in the consumption of fruit and vegetable juice concentrates by consumers around the world. The global market is also seeing a growing demand for juice concentrates across industries including food and beverage, bakery, dairy and others. Due to this growing demand, manufacturing players have developed various innovations and products to meet the growing needs.
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Oranges will have the highest CAGR over the forecast period in terms of value.
The ever-increasing demand for fruit juices in all corners of the world is a key factor driving the global growth in the production of orange concentrates. Orange juice concentrates are rich in vitamin C. Immunity, cognitive and mood boosting drinks are in high demand, and consumers also want to get these benefits from their favorite fruit juices. To emphasize the combination of functional components, the orange will be combined with various berry, vegetable and citrus elements. Growing demand for FMCG in developed regions North America as well as Europe leads to an increase in demand for orange concentrates.
Powdered concentrates will be in high demand in the bakery market for applications such as flavors.
Juice concentrates are used in the baking and confectionery industry as a sweetener and colorant. It is also used as a frosting for decorating baked goods such as cakes and muffins. The use of juice concentrates provides a balanced and natural taste compared to plain water. Manufacturers are looking at juice concentrates as a suitable substitute for sugar in baked goods, and the demand for health products is driving manufacturers to produce innovative and new products for consumers who are willing to pay more to consume healthy baked goods.
Bakery and confectionery manufacturers include fruit and vegetable ingredients in their products to increase the nutrient content of the product, thereby appealing to health-conscious consumers as well as a segment of consumers who want to indulge in these products, but more consciously.
See detailed table of contents at “Juice concentrate market“
257 – Tables
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241 – Pages
The beverage segment is expected to dominate the juice concentrate market.
The beverage industry is one of the most prosperous industries in the world and influences the juice concentrate market worldwide. Manufacturers are bringing new and innovative products to market to meet the demand of people who prefer fruit flavors in their drinks. In addition, the health conscious public has a high demand for health and energy drinks, which has further stimulated the juice concentrate market as juice concentrates provide the essential nutrients in these drinks. There is a high demand for flavored milk in developed regions such as Europewhich has led to a demand for fruit concentrates in milk to satisfy the taste buds of consumers.
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North America is projected to become the second largest market in the juice concentrate industry.
The North American juice concentrate market holds a significant market share for fruits such as cranberries, limes and lemons. Markets inside North America studied for this US report, Canadaas well as Mexico. The United States accounts for two-thirds of the world’s cranberry production, so the number of cranberry concentrate producers in this country is large. Juice concentrate market Canada is facing competitive pressures and unfavorable consumer trends. Producers are most affected by changes in per capita income, health care trends, substitute prices and weather conditions. This is due to the geographical position of the country. Increased demand for semi-finished products opens up growth opportunities for juice concentrate producers. Major players in the juice concentrate market in the region are also innovating their product offerings to improve their product portfolios.
The key players in this market are Archer Daniels Midland Company (USA), Südzucker AG (Germany), Ingredion Incorporated (USA), SunOpta, Inc (Canada), Kerry Group PLC (Ireland), IPRONA SPA (Italy), Simrise AG (Germany), Döhler Group SE (Germany), SVZ International B.V. (Netherlands) and Kanegrade Limited (UK).
Market of fruit and vegetable ingredients by category (fruits and vegetables), nature (organic, conventional), type (concentrates, pastes and purees, NFC juices, slices and powders), application and region – global forecast until 2027.
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