Tough competition prevails in the global juice concentrate market and based on product differentiation few companies are gaining a competitive advantage over others. The Launch of new products with respect to taste and flavor is what companies in this market are focused on to steal a march from their competitors. The Concentrated Juice Market Size is expected to grow at a CAGR of 6.1% to reach USD 106.7 billion by 2023. Increasing demand for convenience food & beverages, health consciousness of people in the developing regions, and the use of juice concentrate as a substitute for sweets in the bakery & confectionery industry are some of the major driving factors for this market.
The technological advances in the food processing industry is a primary factor propelling growth of this market. Growing health consciousness about the excess consumption of fructose and rising healthy food choices is having an adverse influence on the juice concentrate market in North America. Burgeoning middle class in the developing countries of the region and changing lifestyle are key factors stoking growth in the region. The Growth in demand for NFC (not from concentrates) juices is a restraint for the market players. NFC juices are considered to be premium juices and are priced higher when compared to juices, which has influenced the buyer’s preference toward consumption of NFC juices over juices made from concentrate.
Based on the geography the Concentrated Juice Market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa Germany, France, Belgium, and the U.K. are major domestic markets for juice concentrate in the region. The beverage industry is growing globally and therefore the demand for fruits and vegetables for the production of new and innovative beverages is increasing. By ingredients the market is segmented into Single Fruit/Vegetable Concentrates and Multi-Fruit/Vegetable Concentrates.
The global Concentrated Juice Market Key players are Ingredion Incorporated, Sky People Fruit Juice Inc., Archer Daniels Midland Co., Dohler Company, Diana Food, AGRANA Group, SVZ International B.V., Sunopta Inc., The Ciatti Company, and Kanegrade Limited.
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