The Juice Concentrates Global Market Report 2023 by The Business Research Company, provides juice concentrates market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Juice Concentrates Global Market Report 2023, the market size is expected to grow from $57.28 billion in 2022 to $ 60.65 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global juice concentrates market is expected to grow to $75.21 billion in 2027 at a CAGR of 5.5%.
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.
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The juice concentrates market 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
Strategic collaborations and partnerships is a key trend gaining popularity in the juice concentrates market. Companies in the market are focusing on partnerships to develop innovative products and improve market presence. For instance, in September 2021, French premium chocolate manufacturer, Valrhona collaborated with Switzerland based fruit juice products company, Koa to create Oabika, a new cocoa fruit juice concentrate for chefs and gastronomy professionals. The collaboration taps into the trend of using upcycled ingredients that complements the range of cocoa fruit ingredients. The new product is suitable for many applications, including ganache, jellies, mousses, toppings, sauces, glazes, creams, ice creams, sorbets, and beverages.
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. Juice Concentrates Market Size And Growth
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26. Africa Juice Concentrates Market
27. Juice Concentrates Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Juice Concentrates Market
29. Juice Concentrates Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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