Northbrook, IL 60062 -- (SBWIRE) -- 08/28/2023 -- A recent research report titled "Juice Concentrates Market by Type, Application, Ingredient, Form, and Region - Global Forecast to 2027" published by MarketsandMarkets reveals that the global juice concentrates market is on a growth trajectory. The market was valued at USD 73.7 billion in 2022 and is projected to reach USD 93.7 billion by 2027, with a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period.

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As consumers worldwide adopt cleaner and healthier lifestyles, there is a notable increase in the consumption of fruit and vegetable juice concentrates. This growing demand spans various industries including food and beverages, bakery, dairy, and more. In response, manufacturers are innovating and introducing new products to cater to this rising need.

Key Points from the Report:

Orange Concentrates' Rising CAGR: Oranges are projected to experience the highest Compound Annual Growth Rate (CAGR) in terms of value during the forecast period. The popularity of orange juice concentrates is fueled by their richness in vitamin C and the increasing demand for immunity-boosting, cognitive-enhancing, and mood-lifting beverages. Blending oranges with different botanical, berry, and citrus elements further emphasizes their functional benefits. The demand for orange concentrates is particularly driven by convenience product preferences in developed regions like North America and Europe.

Bakery and Confectionery Applications: Juice concentrates, especially in powdered form, are finding increased demand in the bakery market. They serve as flavoring agents and natural sweeteners, enhancing the taste of baked goods. Manufacturers are incorporating fruit and vegetable components to enhance nutritional content, targeting health-conscious consumers and those seeking mindful indulgence.

Dominance of the Beverages Segment: The beverage industry's rapid growth globally significantly impacts the juice concentrates market. Manufacturers are introducing innovative products to meet the demand for fruit-flavored drinks. Health and energy drinks, favored by health-conscious consumers, are also driving the use of juice concentrates for their nutritional benefits. In developed regions like Europe, there's a strong demand for fruit-flavored milk products.

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North America's Influence: The North American market for juice concentrates is noteworthy, with significant shares in fruits like cranberry, lime, and lemon. The US leads in cranberry production, while Canada and Mexico also contribute. Competitive pressures, changing consumer trends, pricing dynamics, and weather conditions influence the market dynamics in this region. The convenience food trend presents growth opportunities for juice concentrate manufacturers in North America.

Key Players: Prominent players in the juice concentrates market include Archer Daniels Midland Company (US), Südzucker AG (Germany), Ingredion Incorporated (US), SunOpta, Inc (Canada), Kerry Group PLC (Ireland), IPRONA SPA (Italy), Symrise AG (Germany), Döhler Group SE (Germany), SVZ International B.V (Netherlands), and Kanegrade Limited (UK).

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