Juice Concentrates Market: Current Analysis and Forecast (2022-2028)
Emphasis on Type (Fruit Juice Concentrates and Vegetable Juice Concentrates); Form (Clear Concentrates, Powdered Concentrate, and Frozen Concentrate); Application (Beverages, Dairy Products, Soups & Sauces, Bakery & Confectionary, and Others); and Region/Country
The global juice concentrates market is expected to grow at a significant rate of around 5% during the forecast period. Fruit and vegetable juices with little water are referred to as juice concentrates. In addition, these are supposed to be less expensive than regular juices. Further, the longer shelf life of the product is achieved by removing water, which inhibits bacterial growth. Therefore, the rise in the demand for healthy food from health-conscious consumers coupled with the consumer’s preference for more organic beverages over carbonated drinks which are free from added sugar and artificial flavors and preservatives will drive the juice concentrates market. Furthermore, major companies in the market increased investments to launch new products. For instance, in October 2019, Archer Daniels Midland introduced its Isotonic Malt-Cola, which has a fresh flavor and provides functional benefits to Middle Eastern consumers. The company launched flavor combinations such as maca with nutty undertones or moringa extract in the energy drink area. ADM also debuted with a new line of pure smoothies. Thus, the growing focus and investment of key stakeholders in the research and development of juice concentrate is expected to support market growth.
Archer Daniels Midland Company, Ingredion Incorporated, Döhler GmbH, SunOpta Inc., Südzucker AG, AGRANA Beteiligungs- AG, SVZ Industrial Fruit and Vegetable Ingredients, Kanegrade Limited, Kerry Group PLC, Symrise AG are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, Fruit Juice Concentrates category to witness significant CAGR during the forecast period”
Based on type, the juice concentrates market is segmented into fruit juice concentrates and vegetable juice concentrates. The fruit juice concentrates segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe as these are considered good substitutes for sugar. Moreover, Fruit concentrates have longer storage periods and provide a soft texture to products due to the chemical nature of the fructose in fruits. Additionally, key stakeholders are concentrating on launching new fruit juices with enhanced flavors to increase sales and strengthen their position in the highly competitive juice concentrates market.
“Amongst application, the beverages held a significant share in the market in 2020”
On the basis of application, the juice concentrates market has been classified into beverages, dairy products, soups & sauces, bakery & confectionary, and others. The beverage category is to witness significant adoption of juice concentrates during the forecast period. The beverage segment is escalating owing to the growing interest in the food and beverage industries due to increasing consumer demand around the world. One of the largest food processing industries is the beverage industry.
“Asia-Pacific held a significant share in the market”
In 2020, Asia-Pacific held a significant share of the global juice concentrates market. This is mainly attributed to the increasing demand for natural foods, coupled with higher awareness regarding processed foods, and concerns over nutrition and health are likely to influence demand in the long term. Moreover, it is expected that the market will continue to grow at a fast rate during the forecast period owing to the growing-income levels of the consumers in the region coupled with increasing consumption of fruit juice concentrates as a substitute for sugar in bakeries and confectionery for a balanced and healthy life. Major companies in the market expanding their range of products to include healthier and diet-specific items with fewer chemicals and preservatives.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global juice concentrates market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Juice Concentrates Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global juice concentrates market were the three major steps undertaken to create and analyze the adoption of juice concentrates in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global juice concentrates market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the juice concentrates market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the juice concentrates market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, form, and application. Further country-level analyses were conducted to evaluate the overall adoption in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Juice Concentrates market. Further, we conducted factor analysis using dependent and independent variables such as growing awareness and popularity of convenience food & beverages. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the juice concentrates market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Juice Concentrates market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the juice concentrates market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global juice concentrates market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global juice concentrates market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, form, and application in the global juice concentrates market.
The main objective of the Global Juice Concentrates Market Study
The current & future market trends of the global juice concentrate market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the juice concentrates market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, form, and application.
- Define and analysis of the regulatory framework for the juice concentrate
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the juice concentrates market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Juice Concentrates market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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