Market Definition
Juice concentrate is the residue after the water has been extracted from fruits or vegetables. This residue is pure syrup & has the highest concentration of the respective fruit or vegetable, making it different from diluted or regular juices. The nutritional value of juice concentrates is rich & has all the essential vitamins & minerals. Besides, when the water is removed from fruits/vegetables to attain their concentrated form, the syrup also reduces the possibilities of bacterial growth & fungal infection.
Moreover, juice concentrates have longer shelf life than regular juices, which makes them a popular choice among people. Their packaging, storage, and transportation costs are minimal, as the raw form requires better handling, which increases overall costs. As a result, more and more people are showing a greater inclination toward juice concentrates in their everyday lives, which projects a fruitful prospect for the industry in the nearer future.
Market Insights
The Global Juice Concentrates Market is projected to grow at a CAGR of around 5.97% during the forecast period, i.e., 2022-27. The growth of the market is likely to be driven primarily by the mounting focus of people on healthy eating & their growing inclination toward adding juices to their diet. Besides, increasing consumer awareness about various health benefits of juice concentrates over regular juices, like longer shelf life, high nutritional value, convenience, & easy storage, among others, are further augmenting the popularity of juice concentrates and driving the global market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022- 2027) | 5.97% |
| Regions Covered | North America: The US, Canada, Mexico, Rest of North America |
| South America: Brazil, Rest of South America | |
| Europe: Germany, The UK, France, Italy, Spain, Russia, Poland, The Netherlands, Rest of Europe | |
| Asia-Pacific: China, Japan, India, Australia, South Korea, New Zealand, Indonesia, Malaysia, Thailand, Rest of Asia Pacific | |
| Middle East & Africa: GCC, South Africa, Rest of Middle East and Africa | |
| Key Companies Profiled | AGRANA Investment Corp, Archer Daniels Midland Company, Bell Flavors & Fragrances, Citromax, Carotex Flavors, Ciatti Company, Diana Group, Döhler, FruitSmart, Ingredion Incorporated, Others |
| Unit Denominations | USD Million/Billion |
In addition, as fast as the food & beverages sector is expanding and undergoing numerous experiments with new cuisines & drinks, juice concentrates are experiencing a burgeoning demand for both alcoholic & non-alcoholic products as well as becoming a popular choice in bakeries & restaurants as an ingredient in various dishes. Moreover, observing an escalating demand for juice concentrates, companies are actively participating in introducing a variety of new products in various quantities & packaging and with shelf life in order to expand their visibility & customer base across different regions in the world.
In the same line, they are also exemplifying a paradigm shift to digital platforms to offer more options to customers, along with great deals and doorstep deliveries, among others, thereby competing actively in the market. Furthermore, as more & more people are becoming aware of various health benefits of natural ingredients & the organic production of fruits/ vegetables, the significantly growing demand for naturally-derived juice concentrates projects remunerative prospects for the leading players operating in the Global Juice Concentrates Market over the forecast years.
