The Juice Concentrates Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Juice Concentrates Global Market Report 2024, 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.
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.
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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
Top Major Players:
The Archer-Daniels-Midland Company
Louis Dreyfus Company B V
Kerry Group PLC
Südzucker AG
Ingredion Incorporated
North America was the largest region in the juice concentrates market share in 2023.
Major companies operating in the juice concentrates market are focused on introducing advanced solutions, such as sugar reduction technology, to gain a competitive edge in the market. Sugar reduction technology is the method and process used to decrease the amount of sugar in a food product while maintaining its taste, texture, and overall quality. For instance, in November 2022, Louis Dreyfus Company B.V. (LDC), a Netherlands-based merchant and processor of agricultural goods, launched a product made from not-from-concentrate (NFC) orange juice. The product made from not-from-concentrate (NFC) orange juice provides a 30% reduction in natural sugar content and more than triple dietary fiber content while preserving the original taste and vitamin C level. It contains four characteristics, such as sugar reduction, higher fiber content, maintenance of the main characteristics of standard organic juice, and original taste. It was developed by a team of food engineers, chemists, and biotechnologists using an enzyme without the use of sweeteners or inulin.
The juice concentrates market report table of contents includes:
1. Executive Summary
2. Juice Concentrates Market Characteristics
3. Juice Concentrates Market Trends And Strategies
4. Juice Concentrates Market – Macro Economic Scenario
5. Global Juice Concentrates Market Size and Growth
…
32. Global Juice Concentrates Market Competitive Benchmarking
33. Global Juice Concentrates Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Juice Concentrates Market
35.Juice Concentrates Market Future Outlook and Potential Analysis
36. Appendix
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