The global fruit concentrate market is likely to gain traction from the ever-increasing demand for convenient and healthy food items. It is considered to be a convenient and cost-effective alternative for fresh fruits. These are mainly used to make alcoholic beverages, nectars, soft drinks, and fruit juices. Fortune Business Insights™ published this information in a recent report, titled, “Fruit Concentrate Market Size, Share & Industry Analysis, By Form (Liquid Concentrate, Powder Concentrate, Others (puree)), By Application (Beverages, Bakery, Confectionary, Dairy, Foodservice, Other Processed Foods) Others and Regional Forecast, 2019-2026.” The report further mentions that the demand for fruit concentrates would surge astonishingly in the near future owing to the rapid urbanization, increasing disposable income of people, and their changing lifestyles.
Fortune Business Insights™ lists out the names of all the companies operating in the global market. They are as follows:
- Capricon Food Products India Ltd.
- Kerry Group Plc.
- The Coca Cola Company
- AGRANA Group
- Ingredion Inc.
- Oceanaa Group
- The Archer Daniels Midland Company
- Dohler Group SE
- Other prominent companies
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This Report Answers the Following Questions:
- What are the market trends, growth drivers, and barriers?
- Which region is set to dominate by generating the highest revenue?
- Which segment is likely to lead by holding the largest share?
- How will the market be affected in the near future by changing consumer preference?
Drivers & Restraints-
Rising Usage in Baby Food and Indulgent Bakery Products to Aid Growth
The demand for fruit concentrates is rising at fast pace because of their increasing application in indulgent bakery products and baby food products as flavouring agents. Apart from that, the upsurging consumer preference for label-free products is further augmenting the manufacturers to launch preservative-free and sugar-free fruit concentrates. These products are manufactured by utilizing a technique known as thermal concentration. It refers to the reduction of water content from fresh fruit juices. Nowadays, owing to the technological advancements in fruit concentrate processing systems, the changes in textural, sensory, and nutritional properties are being minimized.
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Furthermore, there is a trend of consuming natural food items, which, in turn, is likely to boost the fruit concentrate market growth during the forthcoming period. Consumers are gradually inclining towards vegetable and fruit juices from aerated drinks as the latter would surge the prevalence of heart diseases, diabetes, and obesity. Therefore, industry giants are focusing on unveiling unique products to fulfil the urgent demand for clean-label food products. However, fruit concentrates consist of fructose and higher consumption of the same can affect the human health negatively. It may hamper growth.
Liquid Concentrate Segment to Lead Owing to Its Increasing Application in Several Applications
Based on form, the market is segregated into powder concentrate, liquid concentrate, and others (puree). Out of these, the liquid concentrate segment is likely to dominate by holding the largest fruit concentrate market share during the forecast period. This growth is attributable to its usage in a wide range of applications. This concentrate mixes easily with any product for the final application. It would thus, fuel the demand for this product.
High Demand for Natural Food Products to Favor Growth in North America
The market is geographically divided into South America, North America, the Middle East and Africa, Asia Pacific, and Europe. Amongst these, North America is anticipated to exhibit significant growth stoked by the higher demand for natural food products. Also, the usage of aseptic packaging and recyclable packaging in this region is contributing to the market growth. Companies nowadays are using state-of-the-art technologies to provide 100% natural fruit concentrates to cater to the needs of the masses. Europe, on the other hand, is set to experience considerable growth fueled by the expansion of the beverage industry. Hectic lifestyle of people in this region is surging the demand for on-the-go beverages. Lastly, the market in Asia Pacific would grow steadily owing to the high demand for non-alcoholic beverages.
Key Players Focus on Product Launches & Acquisitions to Strengthen Position
The market consists of several manufacturers that are presently aiming to launch novel products in the market. Some of them are also adopting the strategy of mergers & acquisitions to gain a competitive edge. Below are two of the key industry developments:
- April 2019: Dohler Group announced the acquisition of Zumos Catalano Aragoneses S.A., a producer of plants, vegetables, sweet fruit concentrates, purees, and juices based in Spain. As per the company officials, this transaction will help Dohler in providing the consumers with a diverse portfolio in the pears, apples, and stone fruits segments.
- April 2019: Country Pure Foods introduced its latest ready-to-drink, high-acid, ambient fruit concentrates and juices. It is marketed under the branded line named Essential Pour and is available in flexible and lightweight Ecolean packaging.
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