Juice Concentrate market size is USD 73.8 billion in 2023 and will grow at a CAGR of 5.20% from 2023-2030: Cognitive Market Research
Introduction of Juice Concentrate Market
A juice concentrate is a diluted form of the original juice. This is done to make it easier to store and transport and increase its shelf life. Juice concentrates are low-water fruit and vegetable juices that may also contain beneficial nutrients, including vitamins and minerals. The worldwide juice concentrate market is driven primarily by the rising need for quick and easy meals is propelling the worldwide juice concentrate industry. They can substitute fresh drinks in many situations and are convenient and inexpensive. The global demand for fruit concentrates is rising, driven by increasing levels of disposable income, shifting lifestyles, and urbanization. Additionally, the expansion of the juice concentrates market is consumers' growing need for handy food and drink items. Juice concentrates are anticipated to maintain their rapid rise in the next years due to their widespread use as a component in beverages, jams, jellies, infant meals, and other food and drink products, which is expected to drive juice concentrate market expansion during the forecast period.
For instance, in October 2022, New Culture, a pioneer in animal-free dairy products, and ADM, a world leader in sustainable animal and human nutrition, partnered up forces to promote and develop dairy alternatives more quickly. The two businesses are realizing their shared vision of a future food system.
Key Insights from Juice Concentrate Market Report
The Global Juice Concentrate market size is USD 73.8 billion in 2023 and will grow at a CAGR of 5.20% from 2023 to 2030.
Increasing Health Awareness among Consumers Drive Market Output
As customers grow more health-conscious, the growing consumer consciousness of health and wellness has fueled the demand for juice concentrates and shifted toward a desire for natural and less processed foods. A clean and natural label aligns with consumer demand for juice concentrates when manufactured without added sugars and preservatives. There has been a rise in the demand for drinks that are considered healthier options due to the growing interest in wellness and good health. Vitamin and antioxidant-rich fruit juice concentrates are fueling the market's expansion.
For instance, in July 2023, D?hler will create customized and area-specific product ideas so that you can provide your customers with the perfect nectars and juices for any occasion, group of people, and tasting preference! The latest crop of tasty fruit juices is sure to wow with its vibrant hues, one-of-a-kind flavors, and reduced calorie count, and we’re here to help with our bespoke concepts.
Improvements in processing technology have led to higher-quality juice concentrates, which retain more of the fruits' inherent flavors and nutrients. Because of this, these concentrations are more attractive to buyers. Sustainable and ethically produced products are growing more popular among consumers, impacting how the food and beverage industry sources its products. The market is propelled by companies that place a premium on ethical and sustainable fruit-sourcing practices for juice concentrates.
For instance, in March 2023, D?hler and Ixora established a worldwide partnership to revolutionize natural flavor modulation by enhancing D?hler’s competence in natural ingredients and integrated solutions. The demands of American consumers will be met by a planned state-of-the-art hub in North Brunswick, which will expedite agile taste innovation even further.
Market Dynamics of Juice Concentrate
Not from concentrate juices, made from fruit purees, can continue to taste and feel fresh for up to two years if stored properly. The trend of consumers prioritizing nutritional value over quantity is fueling the expansion of the NFC juice business. Despite being a popular alternative to fizzy drinks, NFC juices are more costly than regular juices due to their premium status and lower sugar content. The marketing potential of NFC juices as a healthy fruit drink is being hindered by the pleasant associations people have with them, as juice concentrates are seen as an expensive commodity, and people still prefer fresh, less processed foods, even when juice concentrates are convenient. Because of the perceived superior flavor and greater nutritional content, some consumers choose freshly squeezed juices over concentrates. This factor hampered the market growth during the forecast period.
Impact of COVID–19 on the Juice Concentrate Market
The COVID-19 pandemic affected the juice concentrate market significantly. Products thought to be healthier and immune-boosting experienced a surge in demand as the pandemic raised consumer awareness of their overall wellness. This trend may have affected sales of fruit juice concentrate with health advantages. A shift occurred in consumer habits as a result of the pandemic. Home cooking and items with a long shelf life became more popular during the lockdowns and social isolation policies. Because they are convenient and can be stored for a long time, juice concentrates have seen a surge in demand.?
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Competitive Landscape of the Juice Concentrate Market
Major companies must be flexible and adopt new strategies fast to stay ahead of the competition and seize a large share of the market. The top juice concentrate market players are concentrating on diversifying their products. Market participants are increasing their footprint in growing countries and penetrating new markets worldwide to broaden their consumer base and secure their position in the industry. In anticipation of rising customer demand, businesses release novel, cutting-edge items.
Top Companies Market Share in Juice Concentrate Industry:
Juice Concentrate Market Analysis
Type Segment Analysis:
According to Cognitive Market Research, fruit held the major market share over the forecast period because developed and emerging nations worldwide are seeing a rise in the demand for fruit juice concentrates due to the growing health consciousness of their respective populations. Citrus fruits, apples, and pineapples are in high demand because of their positive impact on health to fuel the market growth.
Vegetables are the fastest-growing category over the forecast period because vegetable juice concentrates are a convenient substitute for consuming whole veggies, allowing those who have problems eating enough fruits and vegetables to acquire the necessary nutrients.
Application Segment Analysis:
According to Cognitive Market Research, beverages hold a prominent market share because juice concentrates are a simple and fast method to add real fruit flavour to beverages. They impart a more intense version of the fruity flavors to the drink, elevating its overall profile.
Bakery and confectionery are the fastest-growing category over the forecast period. Bakery and confectionery products can benefit from using juice concentrates as a natural sweetener instead of refined sugars. They enhance the products' sweetness and give them their distinctive fruit flavors.
Nature Segment Analysis:
According to Cognitive Market Research, organic juice concentrate holds a prominent market share as organic juice concentrates are made from non-GMO fruits and vegetables and do not contain any synthetic ingredients, preservatives, or artificial colors. Organic certification standards strictly forbid the usage of genetically modified seeds or ingredients. Thus, this is in line with their requirements.
Conventional juice concentrate is the fastest-growing category over the forecast period; due to processing techniques like pasteurization, conventional juice concentrates might keep for longer than fresh fruit. Because of this extended storage life, traditional juice concentrates are more convenient and easier to store, contributing to the market's overall growth.
Form Segment Analysis:
According to Cognitive Market Research, clear concentrate holds a prominent market share because its improved clarity and aesthetic attractiveness are hallmarks of clear concentrate. Some use, and tastes call for products with a clearer look, achieved by filtering out particles and contaminants.
Powdered concentrate is the fastest-growing category over the forecast period. Because of its small size and low density, powdered concentrates are convenient for transportation and storage. Both producers and consumers can benefit from their smaller footprint compared to liquid concentrates, particularly when considering transportation expenses and storage space use.
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End Use Segment Analysis:
According to Cognitive Market Research, the food industry holds a prominent market share because consumers looking for natural and minimally processed food options love clean-label products, which juice concentrates help make. Modern consumers value honesty in food labelling, which aligns with the natural and simple ingredient profile.
Retailer households are the fastest-growing category over the forecast period because retailers have many options for marketing juice concentrates. Concentrates provide great flexibility in advertising since they can be promoted as a finished product or as a component in other recipes and drinks.
Asia Pacific dominated the market in 2023 and accounted for around 23% of the global revenue
According to Cognitive Market Research, Asia Pacific dominated the market in 2023 and accounted for around 23% of the global revenue, owing to a surge in the popularity of fruit and vegetable juices, a need for more natural food products, a need for less processed juice concentrates, manufacturers are utilizing cutting-edge technology to create completely organic juice concentrates, and the need for portable fruit drinks has grown in the area to be because of people's busy lives. Additionally, due to changing lifestyles and increasing disposable income, the demand for juice concentrates is expected to rise in Asia, particularly in countries like Japan, China, and India.
The Middle East and Africa are the fastest-growing categories in the region due to a growing number of individuals looking for superior and more natural beverage options. Increasingly, people are concerned about sustainability in the food and beverage business, and health and wellness are growing trends. People are interested in buying products made in an eco-friendly way. The demand for juice concentrates to sustain the Middle East and African markets' growth in the next few years.
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