Fruit Concentrate Market Scope
Rising awareness about healthy food is also contributing to market growth. Since fruit products are seasonal and during the off-season we cannot have the production, so improve technologies such as fruit concentrate will help to fulfill the demand. The global fruit concentrate market is expected to reach the highest market value by the end of the current forecast period.
Fruit Concentrate Market Share is projected to present a 14.6% CAGR to reach USD 3,790 million by 2030. The Fruit Concentrate Market is one of the fastest-growing markets. There has been an uprise in demand for natural food products and the fruit concentrate market is sure to benefit from it. Fruit Concentrates Market is expected to grow significantly during the forecast period
Major Growth Boosters and Challenges
Fruit concentrate has been garnering traction among consumers, as it is seen as a healthier product in comparison to carbonated flavored beverages. These beverages have no color additives or added flavors. Widespread knowledge among consumers about the health advantages related to the different fruits raises the market demand all over the world.
A soaring number of people are now aware about the ill effects of the large sugar content present in various foods, steering their focus on items that contain natural sugars. Players operating in the worldwide industry are therefore empathizing on naturally sourced sugar, either from fruits or even deionized fruit concentrates. Concentrated sugar has emerged as a natural and healthier product compared to refined white sugar generally found in a variety of bakery products. Moreover, fruit concentrate help preserve the moisture content of various baked products for an extended period. In short, the escalating demand for fruit concentrate and on the contrary, the reduced use of refined sugar in baker and confectionery items would ensure steady market growth in the years ahead.
Liquid and solid are the primary forms in which fruit concentrates are available in the market. Higher preference for the liquid form of fruit concentrate among the consumers renders it the top segment in the market. Other than this, liquid form of fruit concentrate is easier to consume and store. Its preparation time is significantly lesser than its solid counterpart. This further enhances its appeal among the consumers.
Different fruit types in the market are pome, citrus, berries, tropical, stone, and more. Citrus fruit concentrate is the major segment, given the higher productivity of the citrus fruits, easier processing technique and the economic factor.
Major applications of fruit concentrate are dairy frozen desserts, bakery confectionery, beverages, and others.
North America has the biggest portion of the worldwide fruit concentrates market, thanks to the consumers’ high inclination towards ready-to-drink fruit-based products. Additionally, fruit concentrate’s surging use in preparing several packaged drinks, is responsible for the region’s highest share of around 40% in the total market.
The European market is quite lucrative, thanks to the strong contribution of Germany where consumers have high purchasing capacity. Most of the companies in the country adopt effective marketing strategies to remain relevant, focusing on diversifying their product portfolios. The dramatic increase in cases of the Alzheimer's disease, cancer, cholesterol level, obesity, and diabetes and the subsequent rise in health awareness favors the European market.
The fastest growth potential is held by APAC, considering the mounting sales of fruit-based drinks as well as food items. Fierce rivalry in the region sees the major brands try aggressively to reach out to a higher number of consumers, opting for distribution channels such as specialty retail stores, pharmacies, direct sales, supermarkets, drug stores, hypermarkets, and mass merchandisers. The surge in various online stores as well as supermarkets offering consumers an alternate for high-end items will add to the market value as well.
The Fruit Concentrate Market Outlook in the market include Döhler Group (Germany), SunOpta, Inc. (Canada), Kerry Group PLC (Ireland), Royal Cosun (Netherlands), China Haisheng Fresh Fruit Juice Co., Ltd (Hong Kong), Rudolf Wild Gmbh Co. KG (Germany), Agrana Beteiligungs AG (Austria), Kerr Concentrates, Inc. (US), and more.
Premium chocolate developer Valrhona has partnered with Koa, Swiss-Ghanaian startup for the development of Oabika, which is a cocoa fruit juice concentrate for the chefs and various gastronomy professionals. Oabika is the first-ever cocoa fruit juice concentrate that has been developed particularly for the food service. With the highest concentration in the food service sector, it offers a smooth consistency with an amber-colored look. Besides its tangy and fruity flavor, Oabika also has honey-like candied notes.
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