(Food-Beverage-News.Com, January 25, 2018 ) The Global Concentrated Juice market size was around USD 70.5 billion in 2016. It is expected to grow at a CAGR of 6.1% to reach USD 94.79 billion by 2021.
Stiff competition prevails in the global juice concentrate market and based on product differentiation few companies are gaining competitive advantage over others. Launch of new products with respect to taste and flavour is what companies in this market are focused on to steal a march from their competitors.
Increasing demand for convenience food & beverages, health consciousness of people in the developing regions, and the use of juice concentrates as a substitute for sweets in the bakery & confectionery industry are some of the major driving factors for this market.
Growth in demand for NFC (not from concentrates) juices is a restraint faced by the market players. NFC juices are considered to be premium juices and are priced higher when compared to juices, which has influenced the buyer’s preference toward consumption of NFC juices over juices made from concentrate.
The market is segmented by type, by application, by Ingredient, by brand and by form. By type the market is categorized into Fruit Juice Concentrates and Vegetable Juice Concentrates. Fruit Juice Concentrates is further sub-segmented into Apple, Pineapple, Orange, Red grape, Berries, Other citrus fruits, and others (banana, mango, and pear). Vegetable Juice Concentrates is further sub-segmented into Carrot, Cucumber, Tomato, Onion & garlic, others (spinach, beetroot, and ginger). Fruit concentrates accounted for a larger market share in 2015, and it is also projected to have a larger share during the forecast period due to the demand for healthy beverages which have led to the demand for higher yield for fruit juice concentrates. Fruit juice concentrates, such as apple concentrates and pear concentrates, are used as sugar substitutes in the bakery & confectionery industry, in the production of cakes, cookies, and pastries. By application the market is sub-segmented into Beverage, Soups & sauces, Dairy, Bakery& confectionery, and others (baby food, dessert, and sweet & savoury snacks). Request for Sample: https://www.marketdataforecast.com/market-reports/global-concentrated-juice-market-5207/request-sample
Beverages accounted for the largest share of the juice concentrates market in 2015. Beverages have several applications, such as in energy drinks, juices, tea, and smoothies, and are available in different forms such as frozen, crystallized, or liquid. The beverage industry is growing globally and therefore the demand for fruits and vegetables for the production of new and innovative beverages is increasing. By ingredients the market is segmented into Single Fruit/Vegetable Concentrates and Multi-Fruit/Vegetable Concentrates. The multi-fruit/vegetable concentrate segment accounted for a larger share in 2015. Consumers’ desire to live an active and healthy lifestyle is one of the major drivers for the growth of the market. Regions, such as North America and Europe, have favourable markets for multi-fruit/vegetable concentrates. By brand the market is categorized into Archer Daniels Midland Company, Agrana Investment Corp., Sunopta, Inc., Ingredion Incorporated, and others. By form the market is categorized into Clear Concentrate, Powdered Concentrate, and Frozen Concentrate.
By geography the market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Europe accounted for the leading market share in the market in 2016 and the region is anticipated to hold on to its lead position over the aforementioned forecast period. Technological advances in the food processing industry is a primary factor propelling growth of this market. Germany, France, Belgium, and the U.K. are major domestic markets for juice concentrate in the region. North America accounted for a small share in the market in 2016. Growing health consciousness about the excess consumption of fructose and rising healthy food choices is having a adverse influence on the juice concentrate market in North America. Asia Pacific is expected to be the most attractive market for juice concentrate in the aforementioned forecast period. Burgeoning middle class in the developing countries of the region and changing lifestyle are key factors stoking growth in the region.
Key market players are Ingredion Incorporated, SkyPeople Fruit Juice Inc., Archer Daniels Midland Co., Dohler Company, Diana Food, AGRANA Group, SVZ International B.V., Sunopta Inc., The Ciatti Company, and Kanegrade Limited.
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