Global Juice Concentrate Market: Snapshot
Stiff competition prevails in the global juice concentrate market and based on product differentiation few companies are gaining competitive advantage over others. 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.
Some of the key growth drivers of the global juice concentrate market are rising popularity of convenience foods, rising consciousness about the importance of good health, and longer shelf life and cost effectiveness of juice concentrates over fresh juices.
Proving to be a roadblock to the growth of this market is increasing awareness about the harmful effects of excess fructose consumption.
A report by Transparency Market Research forecasts the global juice concentrate market to be worth US$117.89 bn by 2025 increasing from a value of US$89.56 bn in 2016 at a CAGR of 3.4% therein.
Fruit Juice Concentrate Garners Leading Share
The segments into which the juice concentrate market is classified based upon type are fruit juice concentrate and vegetable fruit concentrate. Fruit juice concentrate garnered leading share of the market in 2016. This is because fruit juice concentrates are widely used for a number of foods and beverages such as curds, ice creams, etc.
In terms of form, the segments of the global juice concentrate market are clear concentrate, frozen concentrate, and powdered concentrate. Clear concentrate mostly dominates the market followed by powdered concentrate.
Online distribution channel and offline distribution channel are the segments into which the global juice market is segregated based upon distribution channel. The offline distribution channel is mainly sub-segmented into hypermarkets and supermarkets, departmental stores, and others. In 2016, offline held the leading share of the market; however, online distribution channel is expected to grow immensely in the forthcoming years. The rising number of supermarkets and hypermarkets, especially in emerging economies is a key factor for the leading share of the offline distribution channel.
The application segments of the juice concentrate market considered in this study are beverages, soups and sauces, bakery products, dairy products, confectionery products, and others. In 2016, beverages stood as the leading segment in terms of market share. This is mainly because of large-scale applications of juice concentrates in foods and a high demand for fruit and vegetable juices based beverages.
Advancements in Food Processing Industry Has Enabled Europe Emerge Dominant
By geography, the juice concentrate market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Europe held the leading market share in the global juice concentrate market in 2016 and the region is expected to hold on to its lead position over the forecast period. Technological advances in the food processing industry is a key factor driving growth of this regional market. France, Belgium, Germany, and the U.K. are key domestic markets for juice concentrate in the region.
North America held a small share in the global juice concentrate market in 2016. Rising health consciousness regarding excess consumption of fructose and increasing healthy food choices is having a negative influence on the juice concentrate market in North America.
Asia Pacific is anticipated to be the most attractive market for juice concentrate in the forthcoming years. An increasing middle class population in the emerging economies of the region and changing lifestyle are key factors stoking growth in the region.
Some leading players in the global juice concentrate market are Archer Daniels Midland Co., Dohler Company, Ingredion Incorporated, SkyPeople Fruit Juice Inc., Diana Food, AGRANA Group, Sunopta Inc., SVZ International B.V., The Ciatti Company, and Kanegrade Limited.
Global Juice Concentrate Market: Overview
Global analysis of the juice concentrate market along with the various segments and sub-segments have been considered under the scope of this report providing data for the forecast period of 2017-2025. Different types of juice concentrates are prepared using the method of concentration through reduction in the water content. These are a more condensed and concentrated form of juices that can be both fruit and vegetable. These juice concentrates achieved through heat treatment have a comparatively longer shelf life and in general are considered to be more cost effective as compared to the normal juices. This report takes into consideration the various trends associated with juice concentrates globally. This market has shown a steady growth that can be the due to the rising popularity of alcoholic and non-alcoholic fruit drink products, yogurt, ice cream, baby food etc. Moreover, the influx of new low calorie food and beverage products along with rise in health consciousness and awareness among customers especially in the developing economies have been a few key drivers to impact the overall markets along with giving it the boost for growth.
Various trends and growth factors to have an impact over the demand for this market has been considered within this report. Competitive profiling of manufacturers that are present within this market along with various strategic overview has been covered here in this report. In addition to this, the drivers, challenges along with opportunities are profiled here within this report further giving a detailed review regarding the scope of this market in present and future. Market attractiveness of various segments and sub-segments both globally and region wise has also been covered here.
Global Juice Concentrate Market: Market Dynamics
Rise in popularity of convenience and beverage products have been a key driver for this market. Changes in eating patterns coupled with busy lifestyles have resulted in the growth of global juice concentrates market. Additionally, it is the innovation in flavors and nutritional content along with growing investment by different multinational companies especially in the beverage sector have also resulted in boosting the demand for this market. Besides this, it is the Increasing consciousness about health in developed and developing countries have further pushed the market in demand in a positive way. There has been and increasing consciousness about proper health in addressing lifestyle risks that has impacted this market as well. Considering these drivers that has positively driven this market, it is the lack of awareness regarding benefits of juice concentrates among consumers that has negatively impacted this market. Furthermore, since most of the diabetic population is susceptible to adverse health issues, there has also been certain amount of mind blockage associated with consumption of sweetened food items that has also negatively impacted this market. It is expected that the demand for juice concentrates will grow as a result of demand for more healthy products especially for the developing countries.
Global Juice Concentrate Market: Market Segmentation
The global juice concentrate market based on type has been segmented into fruit juice concentrate and vegetable juice concentrate. This market has been segmented further into form that includes clear concentrate, frozen concentrate and powdered concentrate. Based on distribution channel, this market has also been classified into online distribution channel and offline distribution channel. The offline distribution channel then has been segmented into super markets & hyper markets, departmental stores and others. Furthermore, on the basis of applications this market comprises of beverages, soups & sauces, dairy products, bakery products, confectionery products and others. Geographically, regions that are considered within this report comprises of Asia Pacific, North America, Europe, Latin America and Middle East & Africa. This market has been tracked on the basis of revenue where data is provided in USD billion along with the respective CAGR both on global as well as regional basis for the forecast period of 2017-2025.
Global Juice Concentrate Market: Competitive Landscape
Some of the leading players in the global Juice Concentrate market are Archer Daniels Midland Co. (U.S.), Ingredion Incorporated (U.S.), Dohler Company (Germany), SkyPeople Fruit Juice Inc. (China), AGRANA Group (Austria), Diana Food (France), Sunopta Inc. (Canda), SVZ International B.V. (Netherlands), Kanegrade Limited (UK) and The Ciatti Company (U.S.) among others.
The market has been segmented as follows:
Global Juice Concentrate Market, by Type:
- Fruit Juice Concentrate
- Vegetable Juice Concentrate
Global Juice Concentrate Market, by Form:
- Clear Concentrate
- Frozen Concentrate
- Powdered Concentrate
Global Juice Concentrate Market, by Distribution Channel:
- Online Distribution Channel
- Offline Distribution Channel
- Super Markets & Hyper Markets
- Departmental Stores
Global Juice Concentrate Market, by Application:
- Soups & Sauces
- Bakery Products
- Dairy Products
- Confectionery Products
Global Juice Concentrate Market - By Region:
- North America
- Rest Of North America
- The UK
- Rest Of Europe
- Asia Pacific
- Rest Of APAC
- Middle East and Africa (MEA)
- South Africa
- Rest Of MEA
- Latin America
- Rest Of Latin America