Fruit Concentrate Market Size
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Fruit Concentrate Market Analysis
The global fruit concentrate market is projected to grow at a CAGR of 5.72% during the forecast period (2022-2027).
The COVID-19 pandemic has significantly impacted the growth of the Fruit Concentrate Market. Due to the strict restrictions, the manufacturing units were temporarily shut down, which affected the volume production of the Fruit Concentrate. The shortage of the workforce was observed owing to the movement of the crew to their native places impacted the market growth during this period. Also, the disruption in the supply chain led to the shortage of raw materials and the distribution of the end products. According to the world bank, the import of fruits and vegetables from Jan 2019 to Feb. 2020 has declined by 81.8%, owing to supply chain disruptions followed by export restrictions. Therefore, the impact of COVID-19 on the market has limited the supply of fruits for producing fruit concentrates.
Aided by the additional demand from the beverage industry due to the increased consumption of convenience products, including on-the-go beverages, the fruit concentrates market is estimated to experience a significant hike in the forecast period.
Many food manufacturers consider liquid concentrates preferable due to their better texture attributes and feasible consistency. Hence, it holds the largest revenue share in the market.
Fruit Concentrate Industry Segmentation
Fruit concentrate is a fruit with the water removed. Fruit concentrates are made by washing, scrubbing, and crushing the fruit into a pulp. The global fruit concentrate market is segmented into fruit type, product form, application, and geography. The fruits segment of the market includes citrus fruits, red fruits and berries, tropical fruits, and others. By product form, the market is segmented into liquid, powder, and others. The market is segmented by beverage, bakery, confectionery, dairy, and others. Further, the study covers the regional analysis of North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasting have been done in value terms (USD million).
|By Fruit Type|
|Red Fruits and Berries|
|By Product Form|
Fruit Concentrate Market Trends
This section covers the major market trends shaping the Fruit Concentrate Market according to our research experts:
Increasing Demand for Natural Food Products
The increasing obesity rates, diabetes, heart disease, and health food fads have caused,d a growing trend for more natural and healthy food worldwide. Thus, fruit concentrate is increasingly being used as a substitute for refined sugar in various applications such as juices, cakes, desserts, chocolates, and confectionery items. Fructose in fruit concentrate is a healthier alternative to sucrose for people with diabetes, as it has a lower glycemic index than sucrose. Moreover, baked goods made with fructose will be sweet and incredibly moist because fructose attracts more water than granulated sugar. These advantages of fructose make fruit concentrate a highly-attractive natural substitute for sugar in the baking industry.
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North America Holds the Major Share in Fruit Concentrate
The global market for fruit concentrates is driven mainly by North America, which has the largest market share and shows a steady increase in market growth. The United States is primarily driving the North American market for fruit concentrates. This is owing to the increased intake of fruits focused on a variety of food and drink products, and the increasingly hectic lifestyle among consumers increases the consumption of ready-to-drink products. Various manufacturers in North America are offering fruit concentrates products that help increase this market's growth. The market is projected to demonstrate continued growth in developed and developing regions. The increasing demand for natural foods and health and nutritional concerns with processed products drives the need for fruit concentrates.
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Fruit Concentrate Industry Overview
The global fruit concentrate market is highly competitive due to several local and international players. New product launches, partnerships, expansions, and acquisitions are the major global strategies adopted by the leading companies in the fruit concentrate market. Some major global fruit concentrate market players are Döhler, Ingredion Inc., Kerry Inc., and Archer Daniels Midland Company.
Fruit Concentrate Market Leaders
Archer Daniels Midland Company
*Disclaimer: Major Players sorted in no particular order
Fruit Concentrate Market News
In September 2020, Kerry Group plc debuted an extract technology that enables innovators to formulate with the flavor essences of citrus fruits, labeled as natural extracts. The technology provides an extended, more full-bodied finish to flavored NPD. It is branded as New! Citrus Extract, the solution was developed using Kerry’s non-thermal liquid/liquid extraction process that delivers highly concentrated extracts with significantly reduced levels of terpenes and sesquiterpenes.
In December 2020, Vie-Del Company, the oldest family-owned grape processor and supplier of bulk juices, concentrates, brandy, wine, and spirits in California, announced the acquisition of the Canandaigua Concentrate High-Color Concentrate and standard grape concentrate business lines from Constellation Brands U.S. Operations Inc., a wholly-owned subsidiary of Constellation Brands Inc.
In July 2021, Kerry, the world-leading taste and nutrition company, announced the opening of its new taste facility in Latin America, which will serve mainly Mexico, Central America, the Caribbean, and the Andean region. Located in Irapuato, Mexico, the new state-of-the-art facility will significantly increase Kerry’s capacity in the area and further support customers in delivering local and sustainable taste solutions. This new site expands Kerry’s offerings across several food and beverage categories, including refreshing alcoholic beverages, snacks, meat, dairy, and bakery.
Fruit Concentrate Market Report - Table of Contents
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Fruit Type
5.1.1 Citrus Fruits
5.1.2 Red Fruits and Berries
5.1.3 Tropical Fruits
5.2 By Product Form
5.2.1 Liquid Concentrate
5.2.2 Powder Concentrate
5.3 By Application
5.4.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.4.4 South America
184.108.40.206 Rest of South America
5.4.5 Middle-East and Africa
220.127.116.11 United Arab Emirates
18.104.22.168 Saudi Arabia
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 AGRANA Beteiligungs-AG
6.4.2 Dohler GmbH
6.4.3 Ingredion Inc.
6.4.4 Kerry Inc.
6.4.6 Archer Daniels Midland Company
6.4.7 Tree Top, Inc. (Northwest Naturals)
6.4.8 China Haisheng Juice Holdings Co. Ltd
6.4.9 Royal Cosun
6.4.10 Fruitsmart Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Fruit Concentrate Market Research FAQs
What is the study period of this market?
The Fruit Concentrate Market is studied from 2018 - 2028.
What is the growth rate of Fruit Concentrate Market?
The Fruit Concentrate Market is growing at a CAGR of 5.72% over the next 5 years.
Which region has highest growth rate in Fruit Concentrate Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Fruit Concentrate Market?
North America holds highest share in 2021.
Who are the key players in Fruit Concentrate Market?
Ingredion Inc., Kerry Inc., SunOpta, Archer Daniels Midland Company, Döhler GmbH are the major companies operating in Fruit Concentrate Market.
Fruit Concentrate Industry Report
Statistics for the 2023 Fruit Concentrate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Fruit Concentrate analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.