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The global juice concentrates market is expected to grow from USD 69.17 billion in 2021 to USD 105.47 billion by 2030, at a CAGR of 4.80% during the forecast period 2022-2030, as per the report published by The Brainy Insights.
Customers' health worries have become more across the board, and the demand for products manufactured from healthy and natural ingredients has grown. Veggie juice concentrates, fruit juice concentrates, and a combination is the most typical sources of juice concentrates. Due to the nutritional properties of different fruits and vegetables, consumers are increasingly consuming drinks and food items made from the same or their processing forms, which contain concentrated juice, pulp, and other food items. As per the prediction, the increasing health awareness will probably raise the passion for juice concentrates and deliver beneficial opportunities for global market players over the projection period.
Competitive Strategy
To enhance their market position in the global juice concentrates market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market Growth & Trends
The juice concentrates originated from fruits and vegetables. Fruit-based forms are gaining popularity. Furthermore, the stockpiling behaviour of customers for necessities, including fruit beverages, will push needs via the covid-19 pandemic. Similarly, fruit-based concentrates are majorly utilized in bakery and confectionery products due to their sweetener properties, which are unavailable in vegetable form. Countries in the Middle East and Africa have also noticed constant demand increases, with manufacturers making multi-fruit concentrates at increased profit percentages. Furthermore, the benefit of juice focusing on canned food and drinks uses fructose rather than sucrose, making them safe for customers with diabetes. It also improves the consistency and volume of the final item, making juice concentrates a wide choice in the baking and sweets industry. The health and wellness trend persists in developing; juice concentrates are now becoming more famous. Unlike juices made from vegetables and fruits that have been juiced fresh, juice concentrates are created by taking out the juice from vegetables or fruits and then vaporizing most of the water, which ultimately leaves a thick syrup with good taste and high in nutrients.
Key Findings
The application segment is divided into bakery & confectionery, dairy, beverages, and soups & sauces. In 2021, the beverages segment dominated the market with the largest market share of 27% and market revenue of 18.67 billion. Fruits and vegetable concentrates are widely used in the beverage sector. Fruits concentrates are primarily utilized in the process of both alcoholic and non-alcoholic drinks.
The type segment is divided into vegetable, and fruit. In 2021, the fruit segment dominated the market with the largest market share of 53% and market revenue of 36.6 billion. Due to the health benefits, fruits such as apples, pineapples and oranges are increased in demand. These concentrates, mainly red grapes, are also used to make wine.
The form segment is divided into liquid, and powder. In 2021, the liquid segment dominated the market with the largest market share of 58% and market revenue of 40.11 billion. Liquid concentrates give a sense of drinking fresh juice directly, and maximum customers select them as their first option for juice concentrates.
Regional Segment Analysis of the Juice Concentrates Market
Among all regions, the Asia Pacific region emerged as the largest market for the global Juice concentrates market, with a market share of around 34.5% and 23.86 billion of the market revenue in 2021. The paradigm transformation of customers for healthful eating habits has also indicated a positive need for juice concentrates across various regional nations. The factors pushing the market are the busy lifestyle and the availability & comfort of these items. Similarly, following the rising tendency toward vegan food & beverages, several agriculturalists are growing fruits & vegetables organically while giving way to organic production techniques for juice concentrates on catering to the various customer needs, therefore pushing the juice concentrates market in Asia-Pacific.
Key players operating in the global juice concentrates market are:
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global juice concentrates market based on the below-mentioned segments:
Global Juice Concentrates Market by Application:
Global Juice Concentrates Market by Type:
Global Juice Concentrates Market by Form:
About the report:
The global juice concentrates market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
