The juice concentrates market is a global industry that involves the processing and marketing of concentrated fruit and vegetable juices. Juice concentrates are made by removing water content from fruit or vegetable juice through a filtration and evaporation process. The resulting concentrate is typically more shelf-stable, easier to transport, and less expensive than fresh juice.
The global juice concentrates market is driven by increasing demand for convenient and healthy beverages, as well as the growth of the food and beverage industry. The market is segmented based on type, application, and region. The most common types of juice concentrates include orange, apple, grape, pineapple, and others. These concentrates are used in a variety of applications, including beverages, dairy products, bakery and confectionery, sauces and dressings, and others.
The juice concentrates market is blending together a recipe for success, projected to witness a surge at a CAGR of 4.9% during 2022-2027, which is expected to pour in an overall valuation of USD 93.7 billion by 2027. This growth was mixed together in 2022, when the market was valued at US$ 73.7 billion.
The juice concentrates market is expected to continue growing in the coming years, driven by increasing demand for natural and healthy ingredients, as well as the rising popularity of functional beverages. However, the market also faces challenges related to the high sugar content of some juice concentrates and the increasing availability of alternative beverages such as plant-based milks and sparkling water.
Some current trends in the juice concentrates market:
Increased demand for organic and natural juice concentrates: Consumers are becoming more health-conscious and are seeking out organic and natural products. Juice concentrate manufacturers are responding to this demand by offering organic and natural juice concentrates, which are free from synthetic pesticides and chemicals.
Rising popularity of vegetable juice concentrates: Vegetable juice concentrates, such as carrot, beet, and tomato, are becoming more popular due to their nutritional benefits and versatility. Vegetable juice concentrates are used in a variety of applications, including soups, sauces, and beverages.
Innovation in flavor and product development: Juice concentrate manufacturers are constantly innovating to meet changing consumer preferences. This includes developing new flavors, blends, and formulations, as well as exploring new applications for juice concentrates.
Growing demand for functional beverages: Consumers are increasingly seeking out functional beverages that offer health benefits beyond basic hydration. Juice concentrates are being used to create functional beverages that offer a range of health benefits, such as improved digestion, immunity, and energy.
Sustainable sourcing and production: Consumers are increasingly concerned about the environmental impact of the products they purchase. Juice concentrate manufacturers are responding to this by implementing sustainable sourcing and production practices, such as using renewable energy and reducing waste.
