Market outlook
The demand for flavoring agents and fruit concentrates is increasing among consumers over the past few years due to its wide utilities in the food processing industries and households. The cranberry juice concentrate is one such flavoring agents which improvise the flavor and texture of various food products. Cranberry juice concentrate is used for the preparation of cranberry blends for fruit juice, sauces, seasonings etc. Combination flavors with cranberry juice concentrate are gaining popularity over the years, as these flavors are a mixture of two or more flavors combined in one product. Such flavored products with cranberry juice concentrate are gaining popularity among consumers to a significant extent. Hence it is estimated that the demand for cranberry juice concentrate will increase significantly during the forecast period. Consumer preference is shifting towards a unique blend or a new combination of cranberry juice concentrate with raspberry floral, ginger blossom, strawberry floral, vanilla lavender flavor. The combination of floral flavors such as rose, lavender, jasmine, etc. with cranberry juice concentrate flavor is trending in the confectionery segment in the food industry, which is boosting the market of cranberry juice concentrate over the forecast period.
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Customary Demands of Cranberry Juice Concentrate in Culinary Application
Many people in Europe are familiar with the combined taste of cranberry and chocolate as European countries have a tradition of consuming flavored chocolates, during holidays. As a result, the demand for cranberry juice concentrate goes high. The consumption of cranberry juice concentrate infused with chocolates among European families is so high, that for children, these chocolates mean Christmas. Moreover, in Europe, especially Northern European countries flavored alcoholic drinks are gaining traction, which is boosting the sales of cranberry juice concentrate to a significant rate. The Dutch people have a culinary tradition of consuming alcohol containing cranberry juice concentrate and is available in a variety of alcohol, including red vodka energy, and tequila & Lime, among others. Therefore, the global cranberry juice concentrate market is expected to grow positively across the world during the forecast period strongly supported by culinary traditions and increasing utilities.
Global Cranberry Juice Concentrate: Key Players
Some of the major players of cranberry juice concentrate include Welch Foods Inc., Knudsen & Sons, Inc., Dynamic Health Products, Inc., Brownwood Acres Foods Inc., General Nutrition Centers, Inc., Lakewood, Ocean Spray, African Cranberry, Fast Fruit Factory, etc. More Industrialists and organic manufacturers have been showing keen interests towards cranberry juice concentrate as the demand is agglomerating every year.
Opportunities for Market Participants:
As a tempting fruity ingredient, the cranberry juice concentrate has wide demand among the consumers and product developers all over the world. In addition, the cranberry juice concentrate is widely used in alcoholic beverages which have vitalizing demand among the consumers. Due to increased supply chains and well-defined distribution all over the world, it is anticipated that there would be higher returns for the investors of cranberry juice concentrate in the future.
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