DUBLIN--(BUSINESS WIRE)--The "Juice Concentrates Market by Type (Fruit, and Vegetable), Application (Beverages, Soups & Sauces, Dairy, and Bakery & Confectionery), Ingredient (Single, and Multi-Fruit and Vegetable), Form, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global juice concentrates market is estimated to be valued at USD 73.7 billion in 2022. It is projected to reach USD 93.7 billion by 2027, recording a CAGR of 4.9% during the forecast period.
The juice concentrates market, based on vegetable type, has been segmented into carrot, cucumber, tomato, onion and garlic and others.
Cucumber will profit from the rising demand for green juice among health-conscious consumers who wish to live an active, healthy lifestyle. Cucumber juice concentrates form a refreshing beverage and can be a post-workout drink for fitness enthusiasts. The demand for tomato juice concentrates on the other hand is set to increase.
This increase in demand can be attributed to a number of factors like the rising desire for clean labels, health halo, a growing food and beverage business, a preference for ready-to-eat foods as a result of a busy lifestyle, and a demand for all organic products. Carrot concentrates will also witness an increase in demand as it consist of minimal taste and help reduce the sugar content; they boost the nutritional content in the beverages, without compromising on the flavor and the color of the beverage.
The juice concentrates market, based on form, is estimated to be dominated by clear concentrates in 2022.
Clear concentrates can be used as a natural sweetener or as a substitute for food items, which include cakes, juices, and chocolates. Clear apple juice concentrates are form of the most used products in the food & beverage industry. Factors, such as increasing income, production expansion, diverse population, and awareness regarding a healthy lifestyle are contributing to the growth of the clear juice concentrates market.
Manufacturers are turning to vegetables for use in their formulations as demand for healthier components grows, as consumers gravitate toward health and wellbeing, and as the pandemic accelerates this trend. As a result, the usage of clear concentrates in the vegetable segment has expanded since they provide the desired color and flavor. For example, the SVZ clear carrot concentrate is suitable for producing a flavorful beverage that looks and taste great.
Europe accounted for the largest market share during the forecast period.
The juice concentrates market in Europe is in the high growth stage. The temperature in the European Union varies from one country to another, thus resulting in the production of different varieties of fruits in different countries. In the European Union, juice concentrates are produced by a limited number of countries, such as Poland, The Netherlands, Italy, Spain, and Germany.
Germany is among the few countries in Europe that are inclined toward producing juice concentrates. It is a key manufacturer of apple juice concentrate among the European Union's member states. Germany has a temperate climate, which is suitable to produce apples. Germany and Italy are the major EU producers of apple juice concentrate
- Sustainability is the Key to the Bolstering Demand for Juice Concentrates
- Increasing Popularity of Convenience Food & Beverage Products
- Rising Anti-Sugar Movement Curbing the Sales of Carbonated Soft Drinks
- Substitute for Sugar in the Bakery & Confectionery Industry
- Burgeoning Demand for NFC Juices
- Slow Product Innovation Cycles Compared to Fast-Paced Transformation in Consumer Behavior
- Value-Added Products are Gaining Momentum
- Growth in Investment Opportunities for the Development of New Food & Beverage Processing Technologies
- Rise in Demand from Developing Countries Such as China and India
- Demand for Clean-Label Products from Consumers
- Infrastructural Challenges in Developing Countries
- Archer Daniels Midland Company
- Australian Pure Fruits
- Baor Products Group
- Dohler Group Se
- Ghousia Fruit Company
- Ingredion Incorporated
- Iprona Spa
- Juice Concentrate Tm
- Kanegrade Limited
- Keller Juices Srl.
- Kerry Group plc
- Muhtaroglu Group
- NEL Trading Company
- Prodalim Resources Ltd (Prodalim B.V)
- Raje Agro Food
- Sensient Technologies Corporation
- Shimla Hills Offerings Pvt. Ltd.
- Sun Impex
- SunOpta Inc
- SVZ International Bv
- Symrise Ag
- Sudzucker Ag
- Western Hill Foods Ltd.
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