The
global juice concentrate market has been anticipated in a publication
by Transparency Market Research (TMR) to be significantly fragmented
and competitive. There could be a handful of players gaining an edge
over other contestants in the market in terms of product
differentiation. Players have been predicted to give a tough
competition in the industry as they strive to come up with new
products that flaunt novel flavors and tastes. Ciatti Company,
SkyPeople Fruit Juice Inc., Ingredion Incorporated, Dohler Company,
and Archer Daniels Midland Co. are some of the leading names of the
market. The publication has provided a detailed view of how the
competitive landscape could shape in the near future.
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TMR
has envisaged the global juice concentrate market to secure a
staggering revenue of US$117.89 bn by the completion of 2025 after
advancing from an US$89.56 bn valuation attained in 2016. Between
2017 and 2025, the market could post a 3.4% CAGR. On the basis of
type, the market could see a continuation of the lead achieved by
fruit juice concentrate in 2016. By region, Europe has been foreseen
to attain supremacy in the market, considering its dominating reach
to a US$32.97 bn in 2017.
Trend
of Adopting Healthy Lifestyle for Upkeep of Good Health Drives Sales
Busy
lifestyles and changing food habits of people have caused a surge in
the attractiveness of convenience foods and beverages. While this
could stoke the growth of the world juice concentrate market, there
could be a positive influence placed on the demand for various
products due to the trending adoption of a healthy way of life. The
demand for fruit and vegetable juice concentrates has been expected
to see a rise on account of the increasing awareness about healthy
living. As more number of people adopt health-benefiting foods owing
to a rising consciousness about good health, the demand could
continue to increase in the coming years.
Fruit
juice
concentrate is used in several foods and beverages such as
ice creams and curds. If the form of juice concentrate is taken into
consideration, clear concentrate has been foretold to gain a larger
market share in the near future.
Awareness
about Damaging Effects of Excess Fructose Consumption Dents Growth
Excess
consumption of fructose has been scientifically studied to have
harmful effects on the body. In this regard, it has been expected of
juice concentrates containing a high amount of fructose to see a
decline in their demand. However, as per a study provided in the
publication, the demand for juice concentrate could rise while riding
on strong expenditure on non-alcoholic and alcoholic fruit drink
products due to changing economic conditions around the world.
Moreover, there has been an increased spending on baby food, yogurt,
and ice cream.
Furthermore,
there are companies that introduce new flavors in the international
juice concentrate market catering to the middle-income group. They
have also been keen on introducing products that boast of high
nutritional values. Cost-effectiveness and longer shelf life of juice
concentrates compared to fresh juices could be other factors
augmenting the demand in the market.
The
information presented in this review is based on a TMR report, titled
“Juice Concentrate Market (Type - Fruit Juice Concentrate and
Vegetable Juice Concentrate; Form - Clear Concentrate, Frozen
Concentrate, and Powdered Concentrate; Distribution Channel - Online
Distribution Channel and Offline Distribution Channel (Supermarkets
and Hypermarkets and Departmental Stores); Application - Beverages,
Soups and Sauces, Dairy Products, Bakery Products, and Confectionery
Products) - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast 2017 - 2025.”
Key
Takeaways
- Wide usage in several foods and beverages helps fruit juice concentrates to gain an upper hand over vegetable juice concentrates.
- Large companies make investments to bring new flavors to the market that are high in nutrition and cater to the middle-income group.
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