Published Date: 31-Jul-2022
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According to a new report, published by KBV research, The Global Juice Concentrates Market size is expected to reach $90.8 billion by 2028, rising at a market growth of 4.7% CAGR during the forecast period.
The Vegetables Juice Concentrates segment is showcasing a CAGR of 7% during (2022 - 2028). By lowering the water content of the juices, vegetable juice concentrates are created, which appears to decrease the volume of the juices and lengthen their shelf life. Vegetable juice concentrates are less expensive than regular juices. Over aerated drinks, vegetable juice concentrates are seen as a healthier alternative. Consumers are becoming more aware of their physical appearance and health. Concentrated vegetable juices are very healthy.
The Beverage segment is leading the Global Juice Concentrates Market by Application in 2021 thereby, achieving a market value of $33.3 billion by 2028. Particularly in the creation of both alcoholic and non-alcoholic beverages, fruit concentrates are used. Fruit and vegetable juice concentrates come in varied forms, such as frozen, crystallized, or liquid, and are used in a variety of beverages, including energy drinks, juices, tea, and smoothies. The most typical fruits used to make alcoholic beverages are grapes and apples.
The Multi-Fruit/Vegetable Concentrates segment has shown growth rate of 5.9% during (2022 - 2028). It is because mixed contains more health benefits than the other juice concentrate. The combination of the various fruits and juices also helps in the growth of the juice concentrate market. More than 1 flavor of the fruits and vegetable concentrate makes it tastier than before. Various companies are experimenting to make their multi-fruit/vegetable healthier than before.
The Clear Concentrate segment acquired maximum revenue share in the Global Juice Concentrates Market by Form in 2021 thereby, achieving a market value of $42.6 billion by 2028. Cakes, drinks, and chocolates can all be substituted with clear concentrates if the user wants a natural sweetness. The food and beverage industry's most popular product is clear apple juice concentrate. The clear juice concentrates market is expanding as a result of factors such as rising wealth, expanding production, a diversified population, and increased knowledge of the benefits of leading a healthy lifestyle.
The Europe market dominated the Global Juice Concentrates Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $28.7 billion by 2028.The North America market is exhibiting a CAGR of 4% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 5.5% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Archer Daniels Midland Company, Südzucker AG, Ingredion, Incorporated, SunOpta, Inc, Kerry Group PLC, Sensient Technologies Corporation, Symrise AG, Döhler GmbH, IPRONA SPA, and Kanegrade Limited.
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