Juice concentrates are the concentrated and frozen form of vegetable or fruit or mixed juices by decreasing the content of water. Juice concentrate has enhanced shelf-life and is cost-effective in comparison to normal juices. It is utilized in a broad array of applications within food industry like confectionery, bakery products, soups, sauces, and so on as a substitute for vegetables and fruits. The juice concentrates divulge the natural color and flavor to the food products.
The key factors contributing to the expansion of the global juice concentrates market are the increasing need for bakery and beverage products among customers and rising inclination to healthy diets. Further, the escalating implementation of fruit and vegetable juices as a substitute to aerated beverages by health-conscious customers is projected to boost the market growth during the forthcoming period. In addition, the swift expansion of natural sweeteners market will also drive the market growth in years to come. The swelling need for juice concentrates as the sugar alternative in bakery products industry and within the beverage industry will also propel the market growth in the near future.
The global juice concentrate market can be bifurcated based on application, type, ingredients, form, and region. By type, the market is segregated into vegetable juice concentrates and fruit juice concentrates. By application, the market is divided into bakery products, beverages, jams & spreads, confectionary, dairy, beverages, and sauces & soups. By ingredients, the market is classified into multi-fruit/vegetable concentrates and single fruit/vegetable concentrates. By form, the market is diversified into powdered concentrate, clear concentrates, and frozen concentrate.
Regionally, the global juice concentrates market is projected to be governed by North America during the forecast period due to the rising cognizance regarding significance of vegetables and fruits consumption in their daily diet. Further, Asia Pacific is also expected to see substantial boost as region has several budding nations, like India and China, which have large cultivable land along with increasing urbanization leading to the better living standards among customers, thereby propelling the demand for convenience food & beverage products.
Few of the prominent players within the global juice concentrates market include Archer Daniels Midland Company, AGRANA Investment Corp, Sudzucker AG, Ingredion Incorporated, Diana Naturals, SunOpta, Inc., Doehler Group, and SVZ International B.V., among others. To cite, in April 2019, B Natural juice’s three new varieties were announced by ITC Limited. These new variations comprised Dakshin Pink Guava, Ratnagiri Alphonso, and Himalayan Mixed Fruit. This launch will assist the company to surge their share within the juices market and thus reinforce their market position.