Concentrated Juices Market Forecast and CAGR
According to latest research by Transparency Market Research, concentrated juices market is set to witness steady growth during 2021-2031. Demand for concentrated juices will witness steady growth in short-term, with optimistic growth outlook in the long-run. Muted demand from beverages industry would mean limited opportunities in near future, however, sales of concentrated juices in retail sector will provide momentum.
What is Driving Demand for Concentrated Juices?
The partial dehydration of fruit juices leaves a thick syrup is what is called a juice concentrate and like fruit juices this is also a rich source of vitamins, minerals and other nutrients. Its utilization is also simple as it only needs to be rehydrated with a little amount of water.
The increasing demand for convenient foods and the increasing awareness about healthy lifestyle among the modern consumers is what is accelerating the growth of this product. The wholesome eating habits that the consumers are opting for these days is another potent factor. Moreover, its utilization is just not limited to household but these can also be used to produce considerable amount of fruit juices in beverages industry.
Apart from these on a health point of view these juice concentrates can help in maintaining heart health, decreased inflation and promoting skin health. The most potent driver for its increased popularity among smart consumers is its affordability and increased shelf life as compared to fresh fruit juices. These come in a number of flavors from being single fruit to mixed fruit and also a variety of sugar and preservative concentration levels.
Beverage Industry Utilization Affecting the Concentrated Juices Sales
Conventionally these syrups are utilized in the fruit juice manufacturing industries as a cheaper alternative to fresh fruits. This not only saves the manufacturing time but also brings down the processing cost. However, the increasing demand for fresh fruits-based juices have severely affected its utilization in the beverages industry.
The Covid-19 pandemic did provide a needed bloom to this product’s market. The citrus juice concentrates consumption increased during this time as these were an affordable and uncontaminated source with longer shelf life to fresh citrus fruits. Their versatility also challenges the seasonal nature of the fresh fruits.
China Concentrated Juices Market Outlook
China is the leading producer of variety of fruits and vegetables. According to the European Fresh Produce Association, in 2013 China alone produced more than 200 Tons of fresh fruits and the production is increasing at an average rate of about 9% every year. The increasing demand for the fresh fruits-based products and whole fruits in daily dietary is what is accelerating the market growth of this product.
Fresh fruits juice is also the raw material for the production of concentrated juices and hence a production such surplus can ensure a sustainable supply chain of raw material to the manufacturers. The technological benefits and the skilled human resource are what is making this geography a lucrative site for the juice concentrate manufacturers.
Moreover, it is the exporting giant with trade in almost every continent which enables the manufacturers to provide their product a robust market expansion plan. The aware audience is another prospect that will help the product market to grow in the domestic marketplace as well.
Europe Demand Outlook for Concentrated Juices
According to the European Fruit Juice Association, the fruit juice consumption across the European Union was more than 9 Bn Liters in the year 2015. The data covered the fresh juice as well as the concentrated juice indicating the trends are nowhere showing any decline in the in the past decade and the numbers are expected to grow with an increasing population.
The marketplace can provide a significant growth to the product owing to its affordability and popularity for a longer shelf life. Moreover, the increasing demand in this region for a more wholesome and convenient from of foods can prove to be significant market growth accelerator. Also, the reliance of this region mainly on exports for fruit-based products may prove to be a lucrative business opportunity of the concentrated juice manufacturers.
Who are the Key Manufacturers and Suppliers of Concentrated Juices?
Some of the leading manufacturers and suppliers of concentrated juices include Ocean Spray, Lakewood Inc., Welch's, Hormel Foods Corporation, The Coca-Cola Company, Nutraceutical Corporation, Dole.co.th, Northwest Naturals, Vilore Foods Company Inc., Brownwood Acres Foods Inc., Santa Cruz Natural Incorporated, Mott's LLP, Goya Foods Inc., Pioneer Foods Ltd., Cool Breeze Beverages, Country Spoon, Swanson, Tractor Beverage Co., PT Organics Ltd., Biotta Juices, and others.
The manufacturers now a days are impressing providing their product range under organic, non-GMO, etc. labels. They are also funding research and development initiatives to reduce the amount of sugar and the preservative levels in the concentrated juices. Market trends shows more products based on 100% fruit juices and minimal preservatives.