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Apple Fruit Concentrate Market Segmented By Powder Concentrates, Liquid Concentrates in Bakery and Confectionery, Dairy and Frozen Food, Pharmaceuticals, Cosmetics and Personal Care
Carbonated apple juice is a new trend in the beverage industry. Despite the dominance of traditional apple juice products, carbonated juices and other carbonated apple products are expected to gain significant traction in the future.
Carbonated apple beverages are attracting customers and are anticipated to gain a significant market share, as these beverages are similar to widely consumed carbonated soft drinks. Carbonated apple juice products are healthier than flavored carbonated soft drinks, as they do not contain any color or flavor additives.
Apple concentrate is preferred as an ingredient in new apple flavored products over fresh fruit juice concentrates, owing to its longer shelf life. New entrants in the global fruit juice markets prefer apple concentrate as an ingredient for their apple juice products, attributable to reduced production cost and increased shelf life of the products made apple concentrate. It boosts year round availability of the raw materials despite of seasonal variation and change in production.
Consumers worldwide prefer consumption of apple juice made from concentrate as the nutritional contents of apples are maintained during the process used to make apple concentrate.
Thus, apple juice made from concentrate has a larger market share than fresh apple fruit juice. Most companies are branding their products as 100% apple juice made from apple concentrate, which has created a positive perception toward apple concentrate, thus propelling growth of the apple concentrate market.
Tropicana, a leading brand of PepsiCo, provides 100% apple juice made from apple concentrate. Sales of this product are increasing steadily in India
Apples are largely produced in the Asian region and China is the leading producer of apples worldwide. Apples are one of the major crops for farmers in China as the government encourages farmers to take up apple farming. China accounts for more than 40% of the production of apple concentrate in the world.
Thus, majority of manufacturers of apple concentrates are from China, which is the largest exporter of apple concentrate across the globe. Thus, increasing production of apples from such Asian countries makes it the most attractive region for investment and acquisitions for manufacturers in the global apple concentrate market.
Established markets like North America and Europe are estimated to account for the largest shares in the global apple concentrate market. The technologically advanced fruit processing and beverage industries in North America and Europe are a few prime factors for growth of the apple concentrate market in these regions. Innovations in the production process of apple concentrate are expected to benefit manufacturers by boosting production capacity.
However, limited supply of raw materials due to global climatic changes is negatively impacting growth of the global apple concentrate market.
The global apple concentrate market experienced a substantial growth rate in the past few years, and this is expected to continue in the foreseeable future. East Asia and South Asia are projected to show the highest growth rate over the forecast period, owing to increasing demand from emerging markets like China and India.
Market leaders in the global apple concentrate market such as AGRANA, Britvic, and Döhler are strategically investing in capacity expansion by acquiring the small apple concentrate producing companies.
Effective supply chain management is another strategy adaptation by the manufacturers in the global apple concentrate market. Conversely, the limited supply of raw material and additional processes for the production of high-quality apple concentrate restricts the market from reaching its full potential.
PMR’s study on the global apple concentrate market offers information divided into four segments - form, application, and region.