Market Size of Fruit Concentrate Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 46.67 Billion |
| Market Size (2029) | USD 58.47 Billion |
| CAGR (2024 - 2029) | 4.61 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Fruit Concentrate Market Analysis
The Fruit Concentrate Market size is estimated at USD 46.67 billion in 2024, and is expected to reach USD 58.47 billion by 2029, growing at a CAGR of 4.61% during the forecast period (2024-2029).
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.
