The juice concentrate market size is projected to be valued at US$ 57,618.0 million in 2023 and is expected to rise to US$ 94,645.1 million by 2033. The sales of juice concentrate are expected to secure a significant CAGR of 5.0% during the forecast period.
Organic foods are gaining popularity among customers because they contain nutritional ingredients and are grown without the use of pesticides or chemicals. As people become more health conscious, there is an increasing demand for organic juice concentrate that tastes and smells like fruit.
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Juice concentrates are used in restaurants, bars, and other high-volume food service establishments where a lot of food and drink is consumed. Fruit flavours, beverage solutions (premix), and fruit juice concentrates with high-quality syrups are examples of food service products. These components are found in sundaes, ice cream, beverages, milkshakes, smoothies, and pastries.
Customers are willing to pay a premium for custom-made premium food and beverages since the taste, texture, and flavours are excellent and unique. The food service business guarantees that it meets its clients’ expectations by offering a varied choice of creative beverage solutions with high fruit content, as well as extensive experience and knowledge.
Key Takeaways from the Juice Concentrate Market:
- Bakery & confectionery, dairy, beverages, and soups & sauces are the application segments. With a market share of around 27% in 2023, the beverages segment dominated the market. Fruit and vegetables are required to meet consumer demand in the sizable market for soft drinks in developing countries such as China and India.
- The type segment is divided into two categories: vegetable and fruit. With a market share of around 52.7% in 2022, the fruit segment dominated the market. Fruit juice concentrates, such as apple and pear concentrates, are used as sugar substitutes in the bakery and sweets industry when making cookies, cakes, muffins, and pastries.
- Currently, India holds a commanding growth rate of 30.7% in the Asia Pacific region. The expansion of easy-to-drink beverages and healthy food is critical to the growth of the juice concentrates market. The demand for juice concentrates is expected to rise in the Asia Pacific region as a result of changing diets in western countries, rising net income, and changing lifestyles in the region.
- The form segment is divided into two categories: liquid and powder. With a market share of around 57.7% in 2022, the liquid segment dominated the market. Because of its ease of use and consumption, preparation is far more suitable and accessible, especially when time is of the essence. As a result, it is widely consumed by working people who have little or no time to prepare food.
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Competitive Landscape:
The global juice concentrate market is highly competitive due to the presence of numerous domestic and international players. The key global strategies adopted by the leading companies in the fruit concentrate market are new product launches, partnerships, expansions, and acquisitions. Döhler, Ingredion Inc., Kerry Inc., and Archer Daniels Midland Company are some key global fruit concentrate market players.
Latest Developments:
Kerry Group plc debuted an extract technology in September 2020 that allows innovators to formulate citrus fruit flavor essences labeled as natural extracts. The technology gives flavored NPD a long, full-bodied finish. It is labeled as New! The solution, Citrus Extract, was created using Kerry’s non-thermal liquid/liquid extraction process, which yields highly concentrated extracts with significantly low levels of terpenes and sesquiterpenes.
In December 2020, Vie-Del Company, California’s oldest family-owned grape processor and supplier of bulk juices, concentrates, brandy, wine, and spirits, announced the acquisition of Constellation Brands U.S. Operations Inc., a wholly-owned subsidiary of Constellation Brands Inc., of the Canandaigua Concentrate High-Color Concentrate and standard grape concentrate business lines.
Key segments
Product Type:
- Vegetables
- Fruits
By Form:
- Powder
- Liquid
End Use:
- Food and Beverage Industry
- Confectionery & Bakery
- Dairy Products
- Soft Drinks
- Tea
- Alcoholic Beverages
- Dietary Supplements
- Cosmetics & Personal Care Industry
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
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