Juice Concentrates Market Scenario
The size for juice concentrates market was estimated at USD 72.1 billion in 2021. According to projections, the market for juice concentrates will increase from USD 75.6 billion in 2022 to USD 110.1 billion in 2030, with a compound annual growth rate (CAGR) of 4.9% over the course of the forecast year (2022 - 2030)
Market Research Future (MRFR) analysed the global Juice concentrates market in 2022 for the review period till 2030. By 2030, the global juice concentrates market can surge at decent CAGR to earn substantial revenue. The concentrated form of vegetable and fruit have reduced water content that curb investment for logistics and storage. The demand for dairy, fruit drinks, baby food, frozen desserts, and ice cream, those use juice concentrates, is observed to surge. Increase in juice concentrates for the preparation of confectionaries is observed. These are some major causes that can support the juice concentrates market to surge through the review period.
The growing preference for fruit-based and non-alcoholic drinks by consumers due to their enriched taste and multiple nutritional benefits can boost the expansion of the global juice concentrates market across the review period. The rapid replacement of carbonated drinks with juices concentrates as they are healthy option can enhance the market expansion. Juice concentrates have essential minerals, thus is observed to gain traction among the working class s they have nutrition deficiency due their hectic lifestyle and poor diet. This can also favor the market surge.
SunOpta, Inc. (Canada), AGRANA Investment Corp (Austria), Ingredion Incorporated (US), Archer Daniels Midland Company (US), Sudzucker AG (Germany), SVZ International B.V. (the Netherlands), Diana Naturals (France), and Doehler Group (Germany) are some prominent players in the world juice concentrates key market players that are enlisted by MRFR.
The segment study of the global juice concentrates market is done by form, type, and process. The type-based segment of the juice concentrates market are vegetables, blended, and fruit. The form-based segments of the juice concentrates market are frozen and liquid. The application-based segments of the juice concentrates market are bakery & confectionary, beverages, dairy & frozen desserts, and soups & sauces among others.
The launch of innovations that offer improved taste and are healthy, as promoted by leading marketers, can help the juice concentrates market size surge through the review period. The rise in the number of companies that are investing in research and development to formulate better juice with new flavours and manufacturers focusing on introducing affordable juice concentrates can prompt a market surge across the review period. The application of production technologies that aid in producing concentrated juice with the least amount of fibre and the highest nutritional value can also impact the market. Top advertisers promoting the concentrated juice market can also bolster market expansion.
Juice concentrates market in North America, can grow due to the surging awareness about the importance of vegetables and fruits in the daily diet. Cooking is tedious, and due to a busy work schedule, consumption of vegetables becomes difficult, thus resulting in a lack of nutrients for the body. Consuming vegetables in the form of juice is easy and convenient. These are causes that can favour the juice concentrates market share in the region. In Europe, the rise in popularity of healthy and natural food ingredients can help the regional juice concentrate market surge. Key marketers in the region are observed to launch a variety of products that have different combinations of vegetables, fruits, and others as ingredients. This can increase sales of juice concentrates, which can promote market expansion through the review period in this region. In Asia Pacific, juice concentrates market insights can rise at the fastest pace due to changes towards better eating habits and a hike in per capita disposable income. The surge in spending power and increase in health concerns can contribute to the expansion of the APAC juice concentrates market in the coming years.
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