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Juice Concentrates Market Segmented By Orange, Apple, Apricot, Grapefruit, Mango, Pineapple Type in Organic and Conventional Juice Concentrate Nature
Worldwide sales of juice concentrate account for a market valuation of US$ 13.29 Bn. As per in-depth industry research, the global juice concentrate market is predicted to progress rapidly at a CAGR of 6.4% to reach US$ 24.75 Bn by 2032.
Juice Concentrate Market Size (2022E)
US$ 13.29 Bn
Projected Sales of Juice Concentrate (2032F)
US$ 24.75 Bn
Value CAGR (2022-2032)
Value Share of Top 5 Countries (2022A)
Europe is projected to hold more than 30% of the global market value share for juice concentrate through 2032. As of 2022, by value, juice concentrate consumption accounted for around 0.5% to 1.0% of the global beverage market share.
During 2017-2021, the global market for juice concentrate increased at a value CAGR of 5.5%. Market expansion has been fuelled by an increase in demand and consumption of products made from organic and natural fruits, driven by changes in the lifestyle and healthy eating habits of consumers.
Major demanding regions of juice concentrate are Europe and North America. Rapid rise in consumer awareness regarding the multiple health benefits of juice concentrate is fuelling demand across the world.
From 2022 to 2032, the global market for juice concentrate is set to expand at a CAGR of 6.4%.
“Juice Concentrate Suppliers Benefiting from Growing Consumer Preference for Convenient F&B Products”
The global juice concentrate market has grown over the years in response to the growing popularity and demand for simple and convenient food & beverage products. The market is expected to grow due to changing food preferences and the fast-paced lifestyle of the population across regions.
In addition, the fruit-based extract market has grown steadily over the years due to innovative flavors and nutritional ingredients along with increased investments by large international companies. Another key market driver is the increase in the number of nuclear families and working women, which helps drive demand for convenient food and beverages.
Rapid urbanization also brings a high standard of living, increasing the demand for ready-to-eat meals and the need for concentrated juice to fulfil the need for minerals, vitamins, and other nutrition. Growing popularity of healthy convenient food is expected to drive juice concentrate demand over the years to come.
“Increasing Demand for Juice Concentrate from Beverage Manufacturers”
Fruit concentrates are widely used in the beverage industry for the production of both, alcoholic and non-alcoholic beverages. Rising demand for health-related beverages is leading manufacturers to choose nutrient-rich fruit ingredients such as the juice concentrate of various fruits.
Demand for beverages with fruit content has grown as consumers' health consciousness is on the rise, particularly in regions such as North America, Europe, and Asia. As a result, there has been an increase in the demand for fruit concentrate across these geographies.
Fruit juice concentrate also serves as a convenient and appropriate substitute for carbonated soft drinks and aerated beverages. Globally, there is growing demand for organic and natural ingredients in the beverage industry, which is also propelling the market forward.
Concentrated fruit ingredients are also less susceptible to microbial deterioration and temperature-induced organoleptic alterations than Not from Concentrate (NFC) juice. This encourages manufacturers to include juice concentrate in the processing of various beverages.
“Retail Sector to See Surge in Juice Concentrate Consumption”
Juices have become a supplement to morning breakfast in many households, and thus, their popularity continues to rise. Health-conscious people are becoming more aware of concentrated juice and are expected to consume the product daily, and also as a natural health supplement because of its enormous notable nutrients.
Juices can also be used to make marinades and mixed with green smoothies, veggie powders, salad dressings, popsicles, and much more, at home.
As more consumers increasingly realize the ill effects of sugary carbonated drinks, they are expected to shift to healthier alternatives such as fruit juice concentrates. Moreover, frozen juice concentrate supplies a significant amount of water to the body, allowing it to stay hydrated.
Thus, demand for fruit juice concentrate is expected to increase, which presents excellent prospects for the worldwide juice concentrate market.
Juice concentrates are also more affordable than normal fruit juices, and this is primarily because of the cheap transportation costs involved with small frozen package shipments, which encourages retailers to showcase products and pitch them to customers. Thus, juice concentrate sales are expected to increase in the retail sector.
“Fortification of Juice Concentrate Utilized in Nutraceutical Products”
Fruit juices have become increasingly popular around the world because of the beneficial properties they offer and easy to consume aspect. Manufacturers are capitalizing on this market by developing a greater range of enticing items to meet consumer needs.
The number of sophisticated components available and the possibility for new product compositions are increasing. Many beverage companies are fortifying their products and improving product lines by adding juice concentrate with functional additives in order to support product innovation goals.
Other functional components commonly added to juice products include omega-3, fiber, bioactive substances, and probiotic bacteria, in addition to vitamins, which improve the nutritional profile of juice products.
“Less Awareness Regarding Benefits of Juice Concentrate”
Juice concentrate offers energy and serves as a source of glucose to keep the brain and other body tissues healthy. Juice concentrate also serves as a major sugar substitute beverage product for the diabetic population.
However, lack of awareness regarding the benefits of the consumption of juice concentrate among consumers is restraining the growth of the market. Consumers have limited knowledge regarding the benefits of juice concentrate.
Further, since the diabetic population is susceptible to adverse health issues, which are mainly associated with the consumption of sweetened items, they refrain from consuming such products due to a certain mind-block associated with juice concentrate, which is a sweet product. This is mainly due to the lack of knowledge among the population regarding the benefits of such products, which is greatly hindering the growth of the market.
Excess fructose syrup, sodium, sugar, artificial colors, and high calories, all of which are present in juice concentrate, are hazardous to the body. Growing knowledge of the negative consequences of excessive fructose in juice concentrate may stifle global market expansion.
“Health-conscious Consumers’ Preference for Whole Fruits”
Furthermore, health-conscious customers' return to the traditional habit of consuming raw fruits rather than purchasing packaged or processed fruit juice concentrate, which may slow the progress of this product. Even if the product is labeled as 100 percent concentrate, eating raw fruits has more health benefits than drinking juice concentrate.
Concentrated juice contains fewer calories and a higher concentration of fibers and minerals than whole raw fruits. Most juice concentrates are sold with added flavors, colors, and sweeteners, making them an unhealthy drink for older people and children in particular.
Why is Market Growth in Latin America Driven by Argentina?
In Latin America, Argentina is showing promising growth for the forecast period and is expected to register a significant CAGR of 8.5%.
Market value of Argentina is currently US$ 178 Mn in 2022. The country is expected to increase its production of juice concentrate over the coming years.
Why Should Juice Concentrate Producers Target Malaysia?
The market in Malaysia is expected to expand at a CAGR of 5.6% during the forecast period (2022-2032).
Increasing demand and awareness regarding juice concentrate for fresh juices and non-alcoholic beverages will promote market growth in the country.
Will Organic Juice Concentrate Experience Higher Demand Going Forward?
Based on nature, demand for organic juice concentrate will increase from beverage manufacturers owing to its excellent properties and easy availability.
Market value of organic concentrated juice in 2022 is US$ 1.03 Bn, which is expected to increase at a value CAGR of 7.6%
Which Distribution Channel Will Aid Expansion of Market Players?
Juice concentrate is divided into two segments based on distribution channel: business to business and business to consumer.
Business to business sales of juice concentrate account for 57.3% of the global market share in 2022, estimated to be pegged at 5,130,478 tons.
Major manufacturers of juice concentrate are focused on expanding their market share by entering into new markets and exporting their products
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The global juice concentrate market is currently valued at over US$ 13.29 Bn.
Rise in consumer preference for convenient F&B products, increasing demand from beverage manufacturers, rising demand for super fruit juice concentrate, manufacturers focus on technology advancements, and new product launches are all driving market expansion.
Over the 2017-2021 period, juice concentrate consumption increased at a CAGR of 5.5%.
Sales of juice concentrates are projected to increase at 6.4% CAGR and reach US$ 24.75 Bn by 2032.
Kerr, Lemonconcentrate S.L.U, Prodalim, and ADM are the top 3 juice concentrate manufacturers accounting for around 5% to 15% market share.
The U.S., China, U.K., Germany, and Spain are major demand countries for juice concentrate.
The China juice concentrate market is anticipated to reach US$ 2.32 Bn by 2032, while the market in Thailand is set to reach US$ 467.2 Mn.