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.
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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.
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