Market Overview and Growth Factors:
Juice concentrate is mainly available in liquid, powdered and frozen form so that conveniently suits numerous consumers’ requirement. R&D, innovative product line, improvement in the packaging technology are some of the latest methods followed by key manufacturers which has been driving the market growth in recent years.Juice concentrate is light on stomach and good for digestion as it is enriched with some of the most essential nutrients and minerals that our body needs. Due to hectic work schedules that working class goes through every day, they are unable to take proper nutrient regularly and their body lacks these as well as antioxidants that helps in treating various heart, skin, hair and other health related problems. The demand for juice concentrate is expected to increase tremendously in the coming years especially in developed countries where juice concentrate is becoming an important part of regular diet.
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Market Scenario and Key Factors:
Increasing popularity about natural as well as healthy ingredients in juice concentrate is effecting growth of the market. Manufacturers are introducing number of products with different combination of vegetables, fruits and other ingredients which is fueling sales of juice concentrate worldwide. Rising recommendation of juice concentrate from dieticians is also supporting the market growth due to urge for living a healthy lifestyle. Globally, the juice concentrate market is mainly driven due to growing awareness among consumer regarding importance of nutrient intake. Consuming vegetable juices is convenient than consuming cooked vegetable as cooking is a tedious process especially when hectic schedule is followed every day without fail.
These factors are playing a key role in the growth of the juice concentrate market which has been growing at the CAGR of 5.5% from 2016-2022.
Key players:
AGRANA Investment Corp (Austria), Archer Daniels Midland Company (US), Ingredion Incorporated (US), Sudzucker AG (Germany), SunOpta, Inc. (Canada), Diana Naturals (France), SVZ International B.V. (the Netherlands), and Doehler Group (Germany) among many others are some of the leading players in the global juice concentrates market.
Market Segmentation–
The global Juice Concentrate market has been divided into type, form, process, and region.
On the Basis of Type: Fruit, Vegetables, Mixed, and Others
On the Basis of Form: Frozen, Puree, Powder, and Others
On the Basis of Process: Cold Pressed, Dehydration, and Others
On the Basis of Region: North America, Europe, Asia Pacific, and ROW
By Application Analysis:
Frozen juice concentrate is largely used in various desserts, ice-creams, sauces & dips etc. Puree juice concentrate is used as an essential ingredient in various soups, alcoholic and non-alcoholic beverages. 100% juices are consumed greatly by various consumer such as sportsman, working class etc. on daily basis. Awareness about juice concentrate being used in beverage and confectionary is gaining consumer’s attention. Healthy juice concentrate made from aloe vera and coconut water, is gaining attention by consumers who prefer healthy food products.
Regional Analysis:
The global juice concentrate market is into North America, Europe, Asia Pacific and Rest of the World (RoW). Among these Asia Pacific has the major market share followed by North America, as currently there is change in the consumption pattern. In North America the demand for fruit juice is increasing compared to vegetable juice? Countries like China and India have higher demand for various healthy fruit and vegetable juice concentrate.
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