by Apple juice concentrate is a highly concentrated fluid obtained from apples through a juice extraction process involving filtration, evaporation, and condensation. It retains all the nutrients of fresh apple juice in a concentrated form. Apple juice concentrate is primarily used in the preparation of carbonated beverages, functional drinks, smoothies, and juices. The swift pace of urbanization and growing health-conscious consumer base have contributed significantly to the rising demand for healthy beverages. This has augmented the demand for apple juice concentrate market over the years as it contains antioxidants, vitamin C, and phytonutrients that offer several health benefits.
The global apple juice concentrate market is estimated to be valued at US$ 3.5 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growth of the apple juice concentrate market is driven by the rising demand for healthy beverages and increasing health awareness among consumers. As mentioned in the market heading, the flourishing demand for healthy beverages is providing opportunity for the apple juice concentrate market to grow. Apple juice concentrate is considered a healthier substitute for carbonated drinks due to the presence of antioxidants and polyphenols that provide various health benefits. Another key driver fueling the market growth is the cost-effectiveness associated with apple juice concentrate as compared to fresh apple juice. Apple juice concentrate has a longer shelf life and requires less storage space, which makes it a cost-effective option for beverage manufacturers.
Segment Analysis
The Global Apple Juice Concentrate Market Size is primarily segmented into cloudy concentrates and clear concentrates. Cloudy concentrates hold a major share of more than 60% in the market owing to their dominance across various applications. Cloudy apple juice concentrates are rich in fiber and nutrients which gives it an edge over clear concentrates.
PEST Analysis
Political: The apple juice concentrate market is influenced by governmental policies and regulations related to food safety standards, sugar and sweetener taxation.
Economic: The global economic growth along with rising disposable incomes is fueling the demand for affordable beverage options like fruit juices and concentrates.
Social: Evolving consumer preferences towards healthy beverages with minimal processing and additives is positively impacting the demand for natural fruit juices and concentrates.
Technological: New extraction techniques are helping manufacturers to produce apple juice concentrates without losing their nutrition profile and quality. Advancements in packaging are increasing the shelf life of concentrates.
Key Takeaways
The global apple juice concentrate market is expected to witness high growth over the forecast period of 2023 to 2030. The global apple juice concentrate market is estimated to be valued at US$ 3.5 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
Regional analysis shows that North America held the largest share of over 30% in 2022 due to expanding operations of apple growers and juice manufacturers in the US and Canada. The Asia Pacific region is projected to register the fastest CAGR during the forecast period with China and India emerging as lucrative markets.
Key players operating in the apple juice concentrate market are Archer Daniels Midland Company, Kanegrade Ltd, Kerry Group, Döhler Group, and Superior Foods Companies. Key players Dermenjiao, Ciatti Company, and Tree Top are also significant participants. Archer Daniels Midland Company maintains its leadership by offering a diverse portfolio of cloudy and clear concentrates.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
