Market Insights
Market Overview
The global concentrated fruit juice market is witnessing significant growth on account of rising awareness about the benefits of diverged medical advantage such as avocado juice to support characteristic vitality in the body, watermelon juice to keep the body hydrated and improve digestion, papaya juice for sound assimilation, lemon juice to battle with viral contamination, and pineapple juice for diminishing cholesterol levels. Moreover, rising organic food production across the globe is acting as a growth catalyst to the industry. Based on the number of producers India was the leading organic food-producing country in the world in 2018. The country had 1.1 million organic food producers in 2018. Also, the launch of new products by the companies with new flavors and tastes is gaining end-users traction and the market is emerging. For instance: In 2017, World Waters launched "WTRMLN CHRRY" which uses organic tart cherry juice concentrate. Also, Molson Coors Brewing company launched Zumbida which is prepared with the help of apple juice concentrate in 2016. However, the high price of the concentrated juices and the emerging demand from NFC (not from concentrates) juices are acting as a growth hindered in the market.
“Global Concentrated Fruit Juice market is expected to grow at a CAGR of around 8% from 2021-2027 to exceed US$ 108 billion by 2027.”
COVID-19 Impact
The COVID-19 pandemic adversely impacted the growth of the global concentrated juice market owing to the temporary halt in cross-border trade activities. A major impact was witnessed on the Concentrated Lemon Juice Market. During the COVID-19 period, the value of the global concentrated lemon and other citrus fruit juice (excl. orange and grapefruit juice) market declined by 6% as compared to 2018 and reached US$ 647 million. Also, the consumption of concentrated lemon and other citrus fruit juice reduced fie to the inflation in the market. As per a study, the consumption of lemon and other citrus fruits reached 258 thousand tons. However, the market witnessed a rise as compared to 2015-28. But, during the pandemic era, the growth lost its momentum due to the decrease in the harvesting in the leading countries due to the halt in the import-export trade activities.
Concentrated Fruit Juice Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product Type, the market is primarily bifurcated into
Liquid Concentrate
Powder Concentrate
Others
The liquid concentrate segment dominated the by-product type segment of the Concentrated Fruit Juice market and grabbed more than 40% market share in 2019. However, the powder concentrate segment would witness a considerable CAGR in the forthcoming years.
By Fruit Type, the market is primarily segmented into
Orange
Apple
Mango
Mixed Fruits
Others
Amongst fruit types, the orange segment accounted for the largest share and is expected to maintain the same trend of dominance in the forecast period. However, the apple segment would witness a considerable share in 2019.
By Application, the market is primarily segmented into
Beverages
Bakery
Confectionery
Dairy
Others
In 2019, the beverage segment dominated the global Concentrated Fruit Juice market with more than 30% of the market share and it is anticipated by 2027. However, it is expected that the bakery segment would witness robust growth in the forecast period.
Concentrated Fruit Juice Market Geographical Segmentation Includes:
North America
Europe
Asia-Pacific
Rest of the World
Based on the estimation, the North America region dominated the Concentrated Fruit Juice market with almost 50% revenue share in 2019. At the same time, the Asia-Pacific region is expected to grow with the highest CAGR over the forecast period owing to the emergence of new players in the industry coupled with the new offerings of solutions by the players.
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