Fruit Concentrates Market Size is Expected to Grow $3.79 Billion by 2030
Research Reports
Sep 05, 2023
Fruit Concentrates Market Highlights:
Global Fruit Concentrates Market is accounted to register a CAGR of 14.6% during the forecast period and is estimated to reach USD 3.79 Billion by 2030.
Drivers:
Fruit concentrates are products derived from fruits that undergo a process of extracting water content, resulting in a more concentrated form of the fruit’s natural flavors, sugars, and nutrients. This process involves removing a significant portion of the fruit’s water while retaining its essential elements. Fruit concentrates can be obtained from various types of fruits and are used as ingredients in various food and beverage applications. They are valued for their intense flavor, extended shelf life, and versatility in adding natural fruit characteristics to a wide range of products, such as juices, beverages, sauces, desserts, and more.
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Segment Analysis:
The Global Fruit Concentrates Market has been segmented based on Form, Fruit Type, and Application.
Based on the Form, the market is segmented into Powder, Liquid. The dominance of the Powder category in the Fruit Concentrates market is attributed to its longer shelf life, convenient storage, and ease of transportation, making it a versatile and widely applicable option for various food and beverage formulations.
Based on the Fruit Type, the market is segmented into Berries, Citrus, Stone, Tropical, Pome, and Others. The dominance of the Berries category in the Fruit Concentrates market is attributed to the appealing taste, vibrant colors, and high levels of antioxidants found in various berry fruits, driving their popularity in a wide range of products.
Based on Application, the market is segmented into Beverages, Bakery & Confectionery, Dairy & Frozen Desserts, and Others. The dominance of the Beverages category in the Fruit Concentrates market is attributed to the widespread use of fruit concentrates as flavor enhancers and natural sweeteners in the production of various refreshing and flavorful beverages.
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Regional Analysis
The Global Fruit Concentrates Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Fruit Concentrates Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Fruit Concentrates Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World’s Global Fruit Concentrates Market comprises of Middle East, Africa, and Latin America.
North America stands as the largest market for fruit concentrates, driven by a consumer preference for ready-to-drink products that has fueled high demand. Additionally, the versatility of fruit concentrates for use in various packaged beverages contributes to their popularity in the region, accounting for nearly 40% of the total market share.
On the other hand, the Asia-Pacific region emerges as the most rapidly expanding market due to the adoption of advanced fruit production technologies by farmers, resulting in increased overall production. Government policies fostering coordination in the fruit sector’s development have also facilitated the growth of fruit product industries. Rising income levels and literacy rates have expanded the customer base, while the region’s enduring preference for natural products further bolsters growth.
Europe maintains a significant market share and exhibits consistent growth, even demonstrating stability during challenging times like the COVID-19 pandemic.
The forecast period is anticipated to witness growing demand in regions such as Africa and South America, driven by increasing fruit cultivation. The Middle East also remains a noteworthy market for various fruit products.
Key Findings of the Study:
- The Global Fruit Concentrates Market is expected to reach USD 3.79 Billion by 2027, at a CAGR of 14.6% during the forecast period.
- North America emerges as the primary hub for fruit concentrates, driven by consumer preferences for ready-to-drink offerings that enjoy high demand. Additionally, the versatility of fruit concentrates in crafting various packaged beverages caters to regional popularity, securing nearly 40% of the overall market share.
- Based on the Application, the Market has been segmented into Beverages holding the largest market in 2020.
- Agrana Beteiligungs AG, China Haisheng Fresh Fruit Juice Company, Ltd, Döhler Group, Kerr Concentrates, Inc, Kerry Group, Royal Cosun, SunOpta Inc, and Rudolf Wild Gmbh & Co. KG.
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