Global Concentrated Fruit Juice MarketReport, published by Variant Market Research, forecast that the global market is expected to reach $88 Billion by 2024 from $54.3 billion in 2016; growing at a CAGR of 6.2% from 2016 to 2024. By geography, Asia-Pacific and RoW are expected to grow at a CAGR of 7.2% and 6.4%, respectively, during the forecast period.Concentrated fruit juice is increasingly used as a substitute to sugar in many food recipes. This is also known as juice concentrate, which are nutritionally similar to regular fruit juice when prepared suitably. Widespread applications of concentrated fruit juice are in industries such as dairy, beverage, bakery, and confectionary.
"Concentrated Fruit Juice Market (By Product Type:Carbonate Stable, Clarified, and Alcohol Stable; Application: Bakery, Beverage, Dairy, Confectionary, and Other Applications; By Geography: North America, Europe, Asia-Pacific and RoW)Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024"
Increasing acceptance of convenience foodsto drive the growth ofthe concentrated fruit juicemarket
The factors supporting growth of the global concentrated fruit juice market are increasing acceptance of convenience foods, huge demand for high scale of volume in the beverages industry, and longer shelf life & cost efficacy of juice concentrates compared to fresh juices. However, rising consciousness about adverse effects due to excess fructose consumption may act as a restraint for the growth of the market. Moreover, improved disposable income in emergent markets coupled with the growing food and beverages industry would provide several growth opportunities for the market in the future years.
Product type, application, and geography are the major segments considered in the global concentrated fruit juice market. By product type, the market is bifurcated into carbonate stable, clarified, and alcohol stable. Application segment include beverages, bakery, dairy, confectionary, and other applications. By geography, the global solar control glass market has been segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Clarified accounted for the largest market share in the product type segment
Global Concentrated Fruit Juice Market, by Product Type
Clarifiedaccounted for the largest market share in 2016, in the product typesegment, and is expected to continue its dominance during the forecast period 2016 – 2024, owing to increasing health awareness among consumers and increasing use of these juices in many food recipes.
Beverage accounted for the largest market share in the application segment
Global Concentrated Fruit Juice Market, by Application
Beverage accounted for the largest market share in 2016, in the application segment, and is expected to continue its dominance during the forecast period 2016 – 2024. The growth is seen due to large-scale applications of concentrated fruit juice in foods and increasing demand for fruit juice based beverages.
Europe dominated the global market with highest market share over the forecast period
GLOBAL CONCENTRATED FRUIT JUICE MARKET SHARE BY GEOGRAPHY, 2016 (%)
Europe dominated the global market with largest market share of 37% in 2016, and expected to continue its dominance during the forecasted period, owing to technological developments in the food processing industry in this region.
The major players operating in the market are Archer Daniels Midland Company, Future FinTech Group Inc., Ingredion Incorporated, SVZ Industrial Fruit & Vegetable Ingredients, AGRANA Beteiligungs-AG, Döhler, Diana Group, SunOpta, Ciatti Company, Sudzucker AG, among others.