Juice Concentrates Market – Overview:
The demand for juice concentrates has increased rapidly due to the convenience offered by their use in a wide range of applications. Reports that gauge the food, beverage and nutrition industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The market is anticipated to achieve a promising CAGR in the forecast period.
Juice Concentrates Market Size was valued at USD 72.1 billion in 2021. The Juice Concentrates market industry is projected to grow from USD 75.6 Billion in 2022 to USD 110.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.9% during the forecast period (2022 - 2030).
The use of juice concentrates in dairy and frozen desserts, fruit drinks, baby food and ice cream is expected to positively spur the development of the juice concentrate market. Moreover, the growing popularity of non-alcoholic drinks and fruit-based products is expected to encourage the juice concentrates market around the world. Also, the growing level of criticism for carbonated drinks has increased the market share for the juice concentrates market in the upcoming years.
Detailed Regional Analysis:
The regional assessment of the juice concentrates market includes region such as Europe, North America, Asia Pacific, and Rest of the World. Globally, the North American region is anticipated to govern the juice concentrates market due to the rising awareness about the significance of fruits and vegetables intake in their daily diet. In the European region, the popularity of natural and healthy ingredients is growing, which in turn is aiding the market to grow. The main market players are introducing a variety of products with diverse combinations of fruits, vegetables and other ingredients which is escalating the sales of juice concentrates in the region. Furthermore, the Asia Pacific market for juice concentrates is projected to be the fastest rising region due to the implementation of global eating habits as well as intensifying per capita disposable income. The augmented spending power and increasing health concerns among customers in the region is contributing to the development of the juice concentrates market in the Asia Pacific region.
Segmentations:
The segmental evaluation of the Juice Concentrates Market Overview has been carried out on the basis of process, type, form, and region. Based on type, the juice concentrates market is segmented into vegetables, fruit, and blended. On the basis of form, the juice concentrates market has been segmented into liquid and frozen. Based on application, the juice concentrates market has been segmented into bakery & confectionary, beverages, soups & sauces, and dairy & frozen desserts and others. The juice concentrates market has been segmented by region into Europe, North America, Asia Pacific, and Rest of the World.
Competitive Landscape:
A considerable rise in the number of investors in the market is projected to create an advantageous scenario for the progress of the market in the forecast period. The progress of the market is expected to capture increased momentum in the coming years primarily due to the presence of conducive government policies. The growth turnaround in the market is expected to activate new opportunities for expansion of the market. The improvements in various domestic economies are expected to motivate the development of the market in the upcoming period. The accessibility to key tactical opportunities leading to consequent stabilization of inflation is anticipated to create promising openings for expansion in the coming years. In the coming years, the influence exerted by relatively high-income levels in nations around the world and the potential gains observed to some of the currencies in the world is expected to reinforce the evolution of the market in the forecast period.
Archer Daniels Midland Company (US), Ingredion Incorporated (US), AGRANA Investment Corp (Austria), Sudzucker AG (Germany), SunOpta, Inc. (Canada), SVZ International B.V. (the Netherlands), Diana Naturals (France), and Doehler Group (Germany) among many others are some of the principal players in the juice concentrate market globally.
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