Beverage News
Juice Concentrates Market – Global Forecast to 2021
“Juice concentrates market projected to grow at a CAGR of 6.0%”
The juice concentrates market is projected to reach USD 93.94 billion by 2021 at a CAGR of 6.0% from 2016 to 2021. The market is driven by growing consumption of juice concentrates in convenience and packaged food & beverage products. Rising health awareness among consumers, and rising consumption of juice concentrates as a substitute in bakery & confectionery products is likely to drive the demand for jucie concentrates in the near future.
“Single fruit/vegetable concentrate led the market with the largest share in 2015”
Single fruit/vegetable juice concentrates are juices that are derived from a single fruit or a single vegetable. Single fruit concentrates are usually consumed as sugar substitutes in various industries such as bakery, beverage, and food, which is likely to drive its demand in the near future. Apple concentrates, grape concentrates, and pineapple concentrates are some of the commonly used single fruit/vegetable juice concentrates.
Single fruit/vegetable concentrates are available in the form of juice, powder, clear, and frozen. There is rising demand for single fruit/vegetable concentrate in the North American and European regions. Increasing health awareness among consumers is likely to drive the demand for single- and multi-fruit/vegetable juice concentartes in both the regions.
“Asia-Pacific to lead the market in terms of growth rate between 2016 and 2021″
The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. This region has a large market for juice concentrates and is continuously increasing due to economic growth, and high demand for convenience food & beverages.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is mentioned as below.
By Company Type: Tier 1 – 40%, Tier 2 – 40%, and Tier 3 – 20%
By Designation: Director level – 20%, C Level – 40%, and Others – 40%
By Region: North America – 25%, Europe – 50%, Asia-Pacific – 25%
AGRANA Investment Corp (Austria), Archer Daniels Midland Company (U.S.), Ingredion Incorporated (U.S.), Sudzucker AG (Germany), and SunOpta, Inc. (Canada) collectively accounted for the largest portion of the juice concentrates market in 2015. Other players such as Diana Naturals (France), SVZ International B.V. (The Netherlands), Skypeople Fruit Juice, Inc. (China), Kanegrade Limited (U.K.), Doehler Group (Germany), and The Ciatti Company (U.S.) also have a strong presence in this market.
Read the full report here.
