(I-BusinessNews.Com, November 29, 2019 ) Market Overview
• Juice concentrates are concentrated, and frozen form of vegetables, fruits and mixed fruit juice processed by reducing water content. Juice concentrates acts as a flavor enhancer and colour additives in the production of candies, frozen novelties, fruit snacks, jams, jellies, sauces, and beverages. It has approximate life span of 18 months under refrigeration conditions and 2 years under frozen environmental conditions. These concentrates are processed with sweeteners and additives to improve the shelf life & freshness. The potential health benefits associated with consumption of juice concentrates includes promotes skin health, and rich in important nutrients.
• The global juice concentrates market is expected to grow at a CAGR of 6.78% to reach a market value of USD YY million by 2026.
Market Dynamics
• Increasing consumer demand for healthy foods has led to increased adoption of juice concentrates in the processing of sauces, jellies, and Jams. It is also used as a ingredient in lunch bars and pastries. Increased consumer demand for unseasonal fruits and increased availability of respective fruit concentrates led beverages manufacturer interests towards production of respective beverages through concentrates. Additionally, potential health benefits, longer shelf life over traditional juices and its ability to compensate whole fruits various food and beverages applications is expected to boost market for juice concentrates globally during forecast period. Moreover, changing lifestyle & eating habits combined in increased consumer preference towards convenience food and beverages are boosting the consumption of juice concentrates globally during forecast period.
• However, availability of alternatives and lack of presence of nutritional qualities over the whole fruit are major factors hindering the growth of juice concentrates market globally during forecast period.
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Market Segmentation
• Global juice concentrates market is segmented on the basis of product type into fruits, vegetables, and others. The fruit juice concentrates is further segmented into pomes, drupes, berries, melons, citrus, and tropical.
• Fruits segment is dominating the global juice concentrates market owing to increasing consumption of its concentrates in various applications over its compatriots and flexible manufacturing process over others. Increasing adoption of juice concentrates by major beverages processers in the manufacturing of juices over fresh juice is further expected to boost fruit segment globally during forecast period. The primary factor led to increased consumption of fruit juice concentrates by the juice manufacturers over fresh juice includes low transportation cost, high shelf life, availability of unseasonal fruits in all-round the year.
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Geographical Analysis
• By region, the global juice concentrates market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east and America.
• United Sates is dominating the global juice concentrates market owing to high presence of beverages companies adopting juice concentrates as a key ingredient in their processing of various products and significant increase in consumption of juice concentrates in homes. Increased awareness among the communities regarding advantages of juice concentrates over the conventional fruit juice led to increased consumption in United States over the last few years. Changing food habits, lifestyle and increasing consumer interests towards convenient food and beverages are additionally driving the United States juice concentrates market.
Competitive Analysis
• The key companies in global juice concentrates market are focusing improving market presence and share in respective region through acquiring emerging companies in developed nations.
• In April 2019, Dohler acquired majority stake in Zumos Catalano Argoneses (Spanish producer of juices, purees, and sweet fruit concentrates) to improve its market presence in European market.
• In December 2017, Prodalim Group entered into North American juice, concentrates market through acquisition of Louis Dreyfus Company juice facility in winter Garden, Florida.
• Some of the key players in the global juice concentrates market includes Prodalim Group Welch Foods Inc., H&H Products Company, Brownwood Acres Foods Inc., and many others.
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