Global Concentrated Fruit Juice Market: Current Analysis and Forecast (2021-2027)
The market of the concentrated fruit juices has evolved significantly in recent years and is witnessing an uptick owing to the surging demand from the modern consumer for authenticity and natural health. Concentrated fruit juice is prepared by removing all the excess water from fruits, the remaining juice is highly concentrated than the original and has more nutrients than the original one.
Surging awareness about the harmful impact of sugar is contributing to the growing demand as concentrated fruit juice is used as an alternative to sugar and used as a natural sweetener in many food recipes. Moreover, the increasing investments by companies in R&D, decreasing cost of transportation, and cold storage would contribute to the growing market of the company in the forecast period as well.
A continuous launch of products that don’t’ have any harmful impact on health is gaining end-users traction and the market is emerging as end-users are more focused on the health risks of a high-sugar diet. Also, the government's regulations regarding the content and amount of the sugar in the juice are acting as a growth catalyst to the industry.
A rise in the disposable income of consumers coupled with the changing food preference is acting as a growth catalyst to the industry. As per OCED, the household disposable income of Australia, Canada, Denmark, Germany, and Mexico increased 4.39%, 2.11%, 1.67%, 1.77%, 2.76% respectively in 2019. Furthermore, rising import-export trades of fruits owing to the growing demand Concentrated s contributing to the growth of the market. In a study, it was revealed that lemon and other citrus fruit juice is a widely traded commodity, with the share of exports in total global output increased from near 72% in 2007 to about 86% in 2019.
The global Concentrated Fruit Juice market is highly fragmented. The availability of numerous global and local players across regions makes the industry highly competitive. The key players with a considerable market share in the industry are Archer Daniels Midland Company, Ingredion Incorporated, Dohler GmbH, SunOpta Inc, Südzucker AG, Agrana Beteiligungs AG, SVZ Industrial Fruit, and Vegetable Ingredients, Kanegrade Ltd, Kerry Inc., and Skypeople Fruit Juice Inc, etc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst product type, liquid concentrate segment holds the major share”
Based on product type, the market is fragmented into liquid concentrate, powder concentrate, and others. The liquid concentrate segment dominated the market with a share of more than 40% in 2019 and is expected to maintain its dominance during the forecast period. However, the power segment would witness the considerable CAGR during the forecast period owing to the benefits such as longer shelf life, ease to carry, etc.,
“Amongst Fruit Type, Orange is expected to dominate the market during the analyzed period”
Based on the market segment by fruit type, the market is segmented into orange, apple, mango, mixed fruits, and others. In 2019, the orange segment grabbed the major market share and dominated the market. The market share is witnessing an uptick owing to the rising imports of fruit juices is made up of concentrated orange juice in Europe. However, the apple and mixed fruit segment would grow at a considerable CAGR during the forecast period.
“Amongst Application, the beverage segment accounts for the highest revenue share”
Based on the market segment by application type, the market is segmented into beverages, bakery, confectionery, dairy, and others. In 2019, the beverage segment accounted for the highest revenue share by capturing 25% in the total market. However, the bakery segment is expected to witness the highest CAGR during the forecast period of 2021-27.
“North America represents one of the largest markets of Concentrated Fruit Juice market”
For a better understanding of the market dynamics of the Concentrated Fruit Juice market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC) and Rest of the World has been conducted. North America dominated the market and grabbed around 50% market share owing to rising consumption of concentrated fruit juice market. As per a study, the country with the highest volumes of consumption of concentrated oranges and other citrus fruit juice in 2019 was the U.S. (31K tonnes).
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