Increasing awareness about healthy lifestyle which helps in enhancing overall health has driven growth of the juice concentrate market. Demand from the working class has increased in recent years. Juice concentrates are high in nutrition hence consumers have seen rise in demand for it. Along with all these growing demand about healthy alternative to carbonated drinks also boosting the juice concentrate market growth further.
Juice concentrate is a non-fermented liquid extract obtained by squeezing fresh fruits which has almost no water content. Juice concentrates are as healthy as the fresh fruits. Low-cost involvement in logistics and storage, and high demand for fruit drinks, yogurt, ice cream, and baby food are primarily driving the global juice concentrate market. Also, high demand of juice concentrate from confectionary industry has surged the global juice concentrate market.
Juice concentrate is light on stomach and good for digestion as it is enriched with some of the most essential nutrients and minerals that our body needs. Due to hectic work schedules that working class goes through every day, they are unable to take proper nutrient regularly and their body lacks these as well as antioxidants that helps in treating various heart, skin, hair and other health related problems. The demand for juice concentrate is expected to increase exponentially in the coming years especially in developed countries where juice concentrate is becoming an important part of regular diet. Juice concentrate is mainly available in liquid, powdered and frozen form so that conveniently suits numerous consumers’ requirement. R&D, innovative product line, improvement in the packaging technology are some of the latest methods followed by key manufacturers which have been driving the market growth in recent years.
Globally, the juice concentrate market is mainly driven due to growing awareness among consumer regarding importance of nutrient intake. Consuming vegetable juices is convenient than consuming cooked vegetable as cooking is a tedious process especially when hectic schedule is followed every day without fail. Increasing popularity about natural as well as healthy ingredients in juice concentrate is effecting growth of the market. Manufacturers are introducing number of products with different combination of vegetables, fruits and other ingredients which is fueling sales of juice concentrate worldwide. Rising recommendation of juice concentrate from dieticians is also supporting the market growth due to urge for living a healthy lifestyle.
Competitive Analysis:
With strategic expansions, market players can focus on penetrating into the developing economies to expand their business portfolio. Consumers in developing countries are keen on exploring new product range offered to them and form a large consumer base. Establishing market in these emerging economies is profitable based on relatively low set-up costs, ease of doing business, and further lower variable cost to be incurred. Industrial players are involved in the acquisition of small players which will further support the company to expand and reach out to consumers across the regions. The promotional strategy followed by industrial players aids in retaining the existing the customers and also to regenerate new customer base.
The key players profiled in Juice Concentrate are AGRANA Investment Corp (Austria), Archer Daniels Midland Company (U.S.), Ingredion Incorporated (U.S.), Sudzucker AG (Germany), SunOpta, Inc. (Canada), Diana Naturals (France), SVZ International B.V. (the Netherlands), and Doehler Group (Germany) among many others.
Latest Industry Updates:
Sep 2017 Sysco Corporation SYY has launched seven new products, which include cheesecakes, juice concentrates, organic chicken and shrimp amongst others. These products are designed to suit the health and wellness of consumers as well as save labor.
Aug 2017 Prodalim Group, one of the leading suppliers of juices, concentrates and multiunit blends, has entered into an agreement to acquire the Louis Dreyfus Company (LDC) juice facility in Winter Garden, Florida. The company is focusing towards mergers/acquisitions to strengthen its business portfolio.
Apr 2017 ITC's Foods Division has launched unique offering from its B Natural range of fruit beverages - B Natural 100% Pomegranate Juice. Unlike most other packaged fruit juices available in the market that are made from 'fruit concentrates', B Natural 100% Pomegranate Juice is made directly from the pulp of 25 hand-picked pomegranate fruits (in each pack), and has no added sugar, color, preservatives or flavor. The company is highly inclined towards new product launches.
Jun 2016 Carolina Innovative Food Ingredients (CIFI) has launched four new ingredient brands and two other new juice concentrate products in Chicago, defining and adding to its existing line of 100 percent Carolina-made sweet potato ingredients, which can replace artificial sweeteners and other unpopular ingredients in clean-label applications.
Market Segments:
The global Juice Concentrate market has been divided into type, form, process, and region.
On the Basis of Type: Fruit, Vegetables, Mixed, and Others
On the Basis of Form: Frozen, Puree, Powder, and Others
On the Basis of Process: Cold Pressed, Dehydration, and Others
On the Basis of Region: North America, Europe, Asia Pacific, and ROW
Juice Concentrate Market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). The European market is dominating the global juice concentrate market followed by North America. In Europe, Germany and France are the major consumers of juices and concentrates, due to high demand for fruit drinks. Moreover, North America region is expected to grow in the juice concentrate market owing to harmful effects of artificial sugar in carbonated drinks. Additionally, increased demand for juice concentrates in confectionary products is anticipated to uplift the global market during the forecast period 2017-2022.
Asia Pacific is witnessed to be the fastest growing region over the forecast period. Increasing health awareness in developing countries like India and China is boosting the growth of Asia Pacific market. Growing application of juice concentrate in various industries is supporting the growth of juice concentrate market in rest of the world.
