New York, March 06, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Juice Concentrates Market Size, Share, Growth, Trends and Global Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Fruit Juice Concentrates and Vegetable Juice Concentrates), Category (Organic and Conventional), Form (Powder and Liquid), and Application (Bakery and Confectionery; Beverages; Soups, Sauces, and Condiments; Dairy and Frozen Dessert; and Others)”, the global juice concentrates market growth is driven by increasing demand for natural food products, growing application of juice concentrates and demand for organic and clean label products.
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Global Juice Concentrates Market – Report Scope:
| Market Size Value in | USD 67.21 Billion in 2022 |
| Market Size Value by | USD 97.54 Billion by 2028 |
| Growth rate | CAGR of 6.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 178 |
| No. of Tables | 114 |
| No. of Charts & Figures | 86 |
| Historical data available | Yes |
| Segments covered | Type, Category, Form, and Application |
Global Juice Concentrates Market: Competitive Landscape and Key Developments
Ciatti Co, Berrifine AS, Archer-Daniels-Midland Co, AGRANA Beteiligungs AG, Dohler GmbH, Kanegrade Ltd, CitroGlobe SRL, SVZ International BV, IPRONA SpA, and Ingredion Inc are a few of the key players operating in the juice concentrates market. These companies have a widespread presence across the world, which allows them to serve a large number of customers.
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Impact of COVID-19 Pandemic on Global Juice Concentrates Market Growth:
The COVID-19 pandemic affected economies and industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA) hampered the growth of several industries, including the food & beverages industry. The shutdown of manufacturing units disrupted global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2020. Moreover, the bans imposed by governments of various countries in Europe, Asia Pacific, and North America on international travel compelled companies to temporarily discontinue their collaboration and partnership plans. All these factors hampered various industries in 2020 and early 2021, thereby restraining the growth of various markets, including the juice concentrates market.
Before the onset of the COVID-19 pandemic, the demand for juice concentrates was high due to increasing need for bakery products and rising production of different flavored products. However, manufacturing industries faced unprecedented challenges after the emergence of the pandemic in 2020. The manufacturers of juice concentrate experienced many issues due to supply chain constraints caused by nationwide lockdown, trade bans, and travel restrictions. The supply chain disruption created the storage of raw materials, which affected the production and distribution of juice concentrates, leading to increased prices. Further, there was a huge demand and supply gap due to the lockdown and travel restrictions.
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Increasing Demand for Natural Food Products Drives Global Juice Concentrates Market Growth:
The increasing incidence of obesity, heart disease, and diabetes, along with growing trend of health food fads, are a few factors contributing to the rising need for natural and healthy food. Therefore, fruit juice concentrate is increasingly used as a substitute product for refined sugar in a wide variety of applications such as juices, cakes, chocolates, and confectionery items. Fructose in fruit concentrate is a healthier alternative to sucrose for people suffering from diabetes, as it has a lower glycemic index than sucrose. Furthermore, baked goods made with fructose are sweet and incredibly moist because fructose attracts more water than granulated sugar. These advantages of fructose make fruit concentrate a highly attractive natural substitute for sugar in the baking industry.
Europe held the largest share of the juice concentrates market in 2022. The market growth in the region is attributed to the presence of well-established players such as AGRANA Beteiligungs-AG, Archer Daniels Midland Company, Berrifine A/S, Ingredion Incorporated, and Dohler GmbH. With increasing health consciousness among consumers, the demand for natural products prepared using juice concentrates is expected to continue growing over the forecast period. Further, the demand for on-the-go fruit-based beverages is increasing due to hectic lifestyles of consumers across the region. The rising consumption of juice concentrates and juice concentrates-based products such as soups and sauces and beverages are due to the growing adoption of fruit and vegetable juices over aerated drinks, especially by health-conscious consumers.
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Juice Concentrates Market: Segmental Overview
Based on type, the juice concentrates market is bifurcated into fruit juice concentrates and vegetable juice concentrates. The fruit concentrates segment held a larger market share in 2022, and the vegetable concentrate segment is expected to register a higher CAGR during the forecast period. The growth in the vegetable segment is attributed to increasing number of applications and growing consumer demand for healthy alternatives. Vegetable juice concentrates find applications in bakery products, beverages, cheeses, dips, dressings, functional foods, ready-to-eat gravies, marinades, pickles, plant-based ready meals, salads, soups, stuffings, and toppings. Moreover, with the growing ‘vegan’ trend, pressed vegetables are extensively incorporated in a smoothie or juices, such as beetroot juice and carrot juice, to make healthy drinks.
Based on category, the juice concentrates market is bifurcated into organic and conventional. The conventional segment held a larger market share in 2022, and the organic segment is expected to register a higher CAGR during the forecast period.
Based on form, the juice concentrates market is divided into powder and liquid. The liquid segment held a larger market share in 2022, and the powder segment is expected to register a higher CAGR during the forecast period.
Based on application, the juice concentrates market is segmented into bakery and confectionery; beverages; soups, sauces, and condiments; dairy and frozen dessert; and others. The beverages segment held the largest market share in 2022, and the bakery and confectionary segment is expected to register the highest CAGR during the forecast period. Juice concentrates are often used in the bakery & confectionery industry as a sweetener or colorant. Fruit concentrates are also finding applications as icing to decorate cakes, pastries, and muffins. Juice concentrates are widely known for functional and nutritional benefits. Also juice concentrates confer in terms of high quality, safety, and nutrition of processed food products.
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