The global Apple Juice Concentrate Market is estimated to be valued at US$ 2.6 Billion in 2022, according to the global apple juice concentrate market report, by Product Type (Carbonate Stable, Alcohol Stable, and Clarified), by Form (100% Fruit Juice, Nectars, Juice Drinks, Concentrates, Powdered Juice and Others (Fruit Splash, etc.), by Application (Dairy & Frozen Products, Bakery & Confectionary, Beverages, Sauce Dips, Others(Spreads, etc.), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global apple juice concentrate market is expected to surpass US$ 4.33 Billion by 2030, exhibiting a CAGR of 6.6% during the forecast period (2023-2030). The global demand for apple juice concentrate is rising due to its growing demand in the food and beverage industries.The increasing introduction of non-GMO (genetically modified organism) apple concentrate is another prominent factor expected to propel market growth of apple concentrate. Moreover, the demand for non-GMO apples around the world has increased significantly as compared to organic apples because of economic cost and decent yield. This factor is also expected to foster the market growth of apple concentrate over the forecast period. Furthermore, demand for apple concentrate is also increasing on account of rising consumer awareness regarding the health benefits of apple concentrate. The bakery and confectionery industries provide lucrative opportunities for apple juice concentrate. As a sugar alternative in the creation of cakes, biscuits, and pastries, apple juice concentrate use is anticipated to rise. Manufacturers are increasingly using apple juice concentrates in bakery and confectionery products.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/apple-juice-concentrate-market-5121
Key Trends and Analysis of the Global Apple Juice Concentrate Market:
Growing Demand for Organic Apple Juice Concentrate
The demand for organic apple juice concentrate has been on the rise in recent years due to the increasing consumer preference for natural and organic products. Organic apple juice concentrate is free from synthetic pesticides and fertilizers, making it a healthier and safer option for consumers. For instance, in 2021, the global organic apple juice concentrate market was valued at USD 1.2 billion and is expected to grow at a CAGR of 7.5% from 2021 to 2028.
Key Takeaways of the Apple Juice Concentrate Market:
- Among application, the beverages sub segment accounted for the highest market share of 27.24% in 2022 in the global apple juice concentrate market. Liquid and solid apple juice concentrates are used for manufacturing various beverage products such as juice, cider, soft drinks, squash, and many more. Consumers choose apple juice concentrate over fresh fruit juice as it has a longer shelf life. Beverages manufactured using carbonated apple juice are healthier than flavored carbonated soft drinks, as it do not have any color or flavor. Due to the lower manufacturing costs and longer shelf life of products derived from apple concentrate, new entrants in the global fruit juice industry prefer using it as an ingredient for their apple juice products
- Furthermore, among application, others segment includes spread which have seen a significant growth in the global apple juice concentrate market. Due to consumers' busy lifestyles and rising urbanization, demand for ready-to-eat and ready-to-cook food products has increased globally. However, apple spread is very susceptible to spoiling, so many food producers add chemical preservatives and high fructose corn syrup to prevent the growth of harmful microorganisms. This has a negative effect on health-conscious consumers and is expected to significantly reduce the demand for apples globally.
- Major players operating in the global apple juice concentrate market include AGRANA Beteiligungs-AG, Baor Products, CitroGlobe S.r.l., Döhler GmbH, FIL Industries Private Limited, Fructrum GmbH, FruitSmart, H&H Products Company, Hermann Pfanner Getränke GmbH, Himalyan Food Park, Ingredion, Lizaz Food Processing and Old Orchard Brands, LLC.
- Technology launches, acquisitions, and R&D (Research and development) activities are key strategies adopted by players in the global apple juice concentrate market. Key players are more focused on business expansion to meet the growing demand for apple juice concentrate. For instance, in January 2022, Tree Top Inc., a producer and supplier of food products and ingredients, announced that it would close its Medford, Oregon, plant and move the production line to the Prosser plant in 2023 with an investment of US$ 6 million. The Prosser plant currently produces juice concentrates as well as canned and frozen juices.
Global Apple Juice Concentrate Market - Impact of Coronavirus (Covid-19) Pandemic
The outbreak of COVID-19 has impacted the food and beverage industries positively and negatively in almost every region, including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific and Europe are largely impacted by COVID-19 owing to the majority of the cases recorded in the regions, especially in countries including Italy, Spain, Germany, and France in Europe, and China, Japan, India, and South Korea in Asia Pacific. The Governments of many countries had imposed complete lockdown as a measure to curb the spread of COVID-19. Due to lockdown, factories were shut down and the production of apple juice concentrate halted, which in turn created supply chain disruption and affected market growth. During the first and second wave of COVID-19, the Chinese government shut down all restaurants and cafes in the country. Apart from food chains, the supply chain was also impacted by the COVID-19 pandemic. For instance, many major manufacturers of apple juice concentrates experienced delays in its raw material supply from China owing to travel restrictions.
