Juice concentrates refer to fruit and vegetable juices that are low in water content and may offer some essential nutrients such as vitamins and minerals to promote good health. The juice concentrates are used to concentrate nutrients in fruit and vegetable juices to promote health benefits, reduce bacterial growth by extracting the water to increase the shelf life of juices, and to cut packaging, storage, and transportation costs of juices.
Sizing and Forecast
The juice concentrates market size has grown strongly in recent years. It will grow from $60.61 billion in 2023 to $64.11 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to growing demand for convenience foods, flavor diversity, expansion of retail channels, globalization of trade, shift towards healthier beverage choices.
The juice concentrates market size is expected to see strong growth in the next few years. It will grow to $82.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to evolving dietary patterns, clean label movement, focus on sustainable practices, increased awareness of health benefits, consumer demand for personalized flavors. Major trends in the forecast period include plant-based alternatives, low or no sugar variants, blockchain integration, smart packaging, premiumization.
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Segmentation & Regional Insights
The juice concentrators market covered in this report is segmented –
1) By Type: Fruit, Vegetables
2) By Nature: Organic Juice Concentrate, Conventional Juice Concentrate
3) By Form: Clear Concentrate, Powdered Concentrate, Frozen Concentrate
4) By Application: Beverages, Soups and Sauces, Dairy, Bakery and Confectionery, Other Applications
5) By End Use: Food Industry, Beverage Industry, Foodservice, Retail/Household
North America was the largest region in the juice concentrates market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the juice concentrates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in consumer preference for convenient food and beverage products are driving the growth of the juice concentrates market. Convenient or convenience foods refer to processed foods that are ready-to-eat commonly served at restaurants or sold at grocery stores such as room-temperature products, shelf-stable products, or frozen products that can be prepared and consumed directly with minimum or no effort in preparation. Juice concentrates are used to enhance natural colors, flavors, and sweeteners in food and beverage products and provide a more convenient, affordable, and equally healthy source of antioxidants that attract most low-income consumers. For instance, in March 2022, according to the Australian Bureau of Statistics, an Australia-based independent statutory agency, approximately 14.7 million tons of food and non-beverages were sold in the year 2020-21 as compared to the previous year’s increase by 1.4% in Australian grocery stores, convenience, and specialty food stores. Additionally, according to retail intelligence platform, Bizom, sales of ready-to-eat products in India, surged 9.1% in August from July 2021. Therefore, the rise in consumer preference for convenient food and beverage products is expected to propel the growth of the juice concentrates market going forward.
Key Industry Players
Major companies operating in the juice concentrates market report are The Archer-Daniels-Midland Company, Louis Dreyfus Company B V, Kerry Group plc, Südzucker AG, Ingredion Incorporated, Symrise AG, AGRANA Beteiligungs-AG, Sensient Technologies Corp, NW Naturals Inc., Welch Foods Inc., DOHLER GmbH, Diana Group, Tree Top Inc., SunOpta Inc., Sleaford Quality Foods Ltd., Bell Flavors & Fragrances GmbH, Ventura Coastal LLC, FruitSmart Inc., Milne Fruit Products Inc., Kanegrade Limited, Prodalim Group, Northwest Naturals LLC, SVZ International B.V, IPRONA SpA, Lemonconcentrate SLU, Flingo Foods And Agro P. Ltd., Ciatti Company, Encore Fruit Marketing Inc., BMT Weiser LLC, Tricom Fruit Products Limited, Muhtaroğlu Group, Nam Viet Foods & Beverage JSC, Steinhauser Group, Shimla Hills, Bösch Boden Spies GmbH & Co KG, Binder International GmbH & Co KG, China Haisheng Juice Holdings Co Ltd., AGRO–WODZISŁAW Sp. z o.o. ., beckers bester GmbH, AMAZONAS Naturprodukte GmbH
The juice concentrates market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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