Concentrated juice manufacturers are taking advantage of consumers’ rapidly growing interest in natural and organic foods and beverages to expand their product portfolios. Concentrated juice products are often processed to maintain nutrient levels and enhance shelf life. The processes of filtration, pasteurization and evaporation as well as the reduced space requirements for logistics are likely to help the market developments in the near future.
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The increasing incidence of lifestyle dependent diseases such as obesity, diabetes and cardiovascular disease as well as the increasing health awareness among consumers is also promoting the use of concentrated juice as a substitute for sugar in a number of food and beverage formulations. Increased consumption of functional and ready-to-drink beverages is also contributing to the uptake of the industry.
Key Takeaways from the FMI Juice Concentrate Market Report
- The global concentrated juice market is growing at a healthy compound annual growth rate (CAGR) until 2032.
- Asia Pacific to reflect the strong growth rate, and North America to take the lead in the short-term market prospects.
- Focuses on fruit to see relatively higher sales, driven by demand for functional food and beverage production, and storage behavior by consumers during the COVID-19 outbreak.
- Leading players are exploring flavor and nutrition combinations in concentrated formulas to attract a larger consumer base.
- Cosmetics and personal care will see growth due to the demand for clean label formulations.
“Beverage manufacturers are making use of juice concentrates from sources such as grapes, guava and apples, in alcoholic beverage formulations including spirits, cider and beer, with the goal of reducing the weight and volume of beverage formulations, creating profitable opportunities for market players in the long term,” said an analyst at FMI.
Insights into the impact of COVID-19
The COVID-19 pandemic has generated lucrative opportunities for players in the concentrated juice market. Food and beverage manufacturers focus on developing and selling immune-boosting products, as consumers search for healthier options for home consumption. Demand is likely to continue to grow even as restrictions are gradually imposed by government agencies.
Despite the economic turmoil caused by the pandemic, demand for foods and beverages that are ready to eat and drink will remain strong. On the other hand, shutdown restrictions on the food service industry could hamper the short-term outlook somewhat, affecting requirements for juice concentrates in the near future.
Major players in the concentrated juice market include Carotex Flavors, Citromax, Iprona SpA, Louis Dreyfus, The Ciatti Company and Kanegrade Ltd. and SkyPeople Fruit Juice Inc. and Bell Flavors & Fragrances, SVZ International BV, and AGRANA Investment Corp. and FruitSmart, Sudzucker AG, and Ingredion Inc. and Northwest Naturals LLC.
Expanding product portfolios, with new product launches, as well as strategic mergers and acquisitions, are some of the most notable strategies companies use to strengthen their position in the concentrated juice market.
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In June 2022, Vie-Del announced the acquisition of Constellation Brand’s grape juice concentrate business including its MegaNatural product line to expand its production capacities.
In September 2022, Milne Fruit Products Inc. for its acquisition of Valley Processing, including juice and puree production assets, and cold storage facilities in Sunnyside Washington.
Also, Florida Food Products revealed its acquisition of Amelia Bay LLC in August 2022, which will strengthen the company’s position in clean label ingredients including juice concentrates for the health and wellness market.
More Valuable Ideas About Concentrated Juice Market
In its latest report, Future Market Insights has provided a detailed analysis of the global juice concentrate market, with an audit on the basis of historical demand in 2015 – 2019, and data on forecasts from 2022 to 2032. The report includes growth forecasts on the juice concentrate market in terms of product type (vegetable). and fruits), form (powder and liquid) and end use (foods, beverages, nutritional supplements, cosmetics, personal care, etc.), across seven major regions.
Product Type :
- Food and Beverage Industry
- Sweets and bakeries
- Dairy products
- Soft drinks
- alcoholic beverages
- Nutritional supplements
- Cosmetics and personal care industry
- North America (US and Canada)
- Latin America (Brazil, Mexico and the rest of Latin America)
- Europe (Germany, UK, France, Spain, Italy, BENELUX, North, Russia, Poland and rest of Europe)
- Middle East and Africa (GCC countries, South Africa, and the rest of the Middle East and Africa)
- East Asia (China, Japan, and South Korea)
- South Asia (India, Thailand, Malaysia, Indonesia and rest of South Asia)
- Oceania (Australia and New Zealand)
How will the juice concentrate market grow in the future?
What trends are affecting the Juice Concentrate market?
What is the best selling juice concentrate?
What will be the impact of COVID-19 on the Soft Drinks Market?
What are the manufacturers of concentrated juice?
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