Northbrook, IL 60062 -- (SBWIRE) -- 08/18/2023 -- The worldwide juice concentrates market is appraised to have reached a value of USD 73.7 billion in 2022. The market is projected to achieve USD 93.7 billion by 2027, displaying a Compound Annual Growth Rate (CAGR) of 4.9% throughout the forecast period. This growth is attributed to a growing global preference for clean and healthy lifestyles, leading to increased consumption of fruit and vegetable juice concentrates. The demand surge extends across various sectors, including food and beverages, bakery, and dairy.

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The report, spanning 241 pages, offers insights through 257 market data tables and 44 figures, presenting a detailed overview of the Juice Concentrates Market. It delves into various aspects such as product types, applications, forms, and geographical regions.

Notably, oranges are poised to exhibit the highest CAGR during the forecast period in terms of value. The robust demand for orange concentrate products is driven by their rich vitamin C content, aligning with the rising demand for immune-boosting, cognitive-enhancing, and mood-elevating beverages. This trend prompts innovative blends of orange with diverse berry, botanical, and citrus components. Additionally, the convenience-driven markets of North America and Europe contribute to the escalating demand for orange concentrates.

The bakery industry is witnessing a surge in demand for powdered concentrates, primarily for flavoring purposes. Juice concentrates are increasingly utilized as sweeteners, colorants, and icing decorations in baked goods, providing a natural and balanced flavor profile. With consumers' growing interest in healthier bakery products, manufacturers are integrating fruit and vegetable components into their offerings to enhance nutritional content and attract health-conscious and mindful consumers.

The beverages segment stands as a dominant force within the juice concentrate market. The thriving beverage industry continually introduces innovative products to cater to consumer preferences for fruit-infused flavors. Health-conscious consumers, in particular, fuel the demand for nutritious and energy-enhancing drinks, thereby boosting the juice concentrate market. Flavored milk is notably popular in developed regions like Europe, leading to a higher demand for fruit concentrates to enrich the taste of dairy products.

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The North American region is anticipated to emerge as the second-largest market for juice concentrates. This region boasts significant market shares in fruits such as cranberry, lime, and lemon. The United States plays a pivotal role, contributing heavily to global cranberry production and concentrate manufacturing. While Canada faces market challenges due to competitive pressures and evolving consumer trends, convenience food product demand presents growth opportunities for juice concentrate manufacturers. Key players in the industry, including Archer Daniels Midland Company, Südzucker AG, Ingredion Incorporated, SunOpta Inc, Kerry Group PLC, and others, are actively enhancing their product portfolios to meet evolving consumer preferences.

In conclusion, the global juice concentrates market is on a steady growth trajectory, driven by factors such as increasing health consciousness, demand for flavorful and nutritious beverages, and innovation in product offerings. The report underscores the significant role of various sectors, key players, and regional dynamics in shaping the future of this dynamic market.

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