Juice Concentrates Market by Type (Fruit, and Vegetable), Application (Beverages, Soups & Sauces, Dairy, and Bakery & Confectionery), Ingredient (Single, and Multi-Fruit and Vegetable), Form, and Region – Global Forecast to 2027“, published by MarketsandMarkets™, the global Juice Concentrates Market is estimated to be valued at USD 73.7 billion in 2022. It is projected to reach USD 93.7 billion by 2027, recording a CAGR of 4.9% during the forecast period. As a part of adopting a clean and healthy lifestyle, there is a rise in consumption of fruit and vegetable juice concentrates by the consumers across the globe. The global market has also witnessed a rising demand for juice concentrates across different industries including food and beverages, bakery, dairy and others. With this rising demand, the manufacturing players have come up with various innovations and products to support the rising need.
Powdered concentrates will see a greater demand in the bakery market for applications such as flavoring agents
Juice concentrates are used in the bakery & confectionery industry in the form of a sweetener and colorant. It is also applied as icing to decorate baked products such as cakes and muffins. The utilization of juice concentrates provides a balanced and natural flavor compared to plain water. Manufacturers consider juice concentrates as a suitable substitute for sugar during the production of bakery products, and the demand for health products has encouraged manufacturers to produce innovative and new products for consumers who are willing to pay a premium amount for the consumption of healthy bakery food.
Juice concentrates is a type of fruit juice where most of the water has been extracted from the fruit.
Bakery and confectionery manufacturers are incorporating fruit and vegetable components into their products to increase the nutritional content of the product, thereby attracting health-conscious consumers as well as a segment of consumers who want to indulge in these products but in a more mindful manner.
North America is projected to be the second largest market in the juice concentrate industry.
The North American juice concentrates market has an important share in the markets of fruits such as cranberry, lime, and lemon. The markets within North America studied for this report are the US, Canada, and Mexico. The U.S. contributes to two-thirds of the global cranberry production, and hence, the number of manufacturers of cranberry concentrates in this country is high. The juice concentrate market in Canada faces competitive pressure and unfavorable consumer trends. The manufacturers are most strongly affected by the change in per capita income, health trends, prices of substitutes, and weather conditions. This is due to the geographic location of the country. The increased demand for convenience food products offers growth opportunities to juice concentrate manufacturers. Major players in the juice concentrate market in the region are also innovating their product offerings to improve their product portfolios.
The key players in this market include Archer Daniels Midland Company (US), Südzucker AG (Germany), Ingredion Incorporated (US), SunOpta, Inc (Canada), Kerry Group PLC (Ireland), IPRONA SPA (Italy), Symrise AG (Germany), Döhler Group SE (Germany), SVZ International B.V (Netherlands), and Kanegrade Limited (UK).