Market players are taking advantage of juice concentrates from sources such as apples, guavas, and grapes, in alcoholic beverage formulations, to reduce the volume and weight of beverage formulations.
DUBAI, UAE / ACCESSWIRE / November 30, 2020 / Future Market Insights: The juice concentrate market is poised to record steady growth over the forecast period of 2020-2030. The market expansion is majorly driven by the launch of diverse, new flavors and nutrition profiles for product offerings in the foods & beverages segment to satiate the growing demand for health and immunity amongst the COVID-19 crisis.
"Swift growth in the uptake of on-the-go beverages is a key factor impelling the demand in the global market. The demand for clean label food & beverages can further lead to major opportunities of market expansion in the upcoming years." comments the FMI analyst.
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Juice Concentrate Market - Key Highlights
- North America, led by the US will remain the frontrunner owing to the growing demand for natural foods, together with high awareness about processed foods.
- Fruit-based concentrates are anticipated to foresee comparatively higher sales over the forecast period.
- Cosmetics & personal care application to foresee expansion due to a growing need for clean label formulations.
Juice Concentrate Market - Drivers
- Rising opportunities in functional foods & beverages will be a significant growth driver in the global market.
- Higher demand for fruit-based concentrates to propel expansion due to customers' preferences in natural beverages, and higher scope of flavorings from fruit sources.
- Growing awareness regarding the usage of natural sweeteners instead of sugar is generating new prospects for the juice concentrate industry.
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Juice Concentrate Market - Restraints
- Awareness regarding the consequences of excess uptake of fructose in juice concentrates could hinder the market growth.
- Reliance on fruit concentrates for the production of fruits as well as the application industries, such as bakery and confectionary can limit the market expansion.
COVID-19 Pandemic Impact on the Market
The COVID-19 outbreak has created lucrative opportunities for companies in the market. Various food & beverage players are focusing on the sales and development of immunity-boosting products since customers look for healthy alternatives for in-home consumption. The market demand is projected to grow even as restrictions are inflicted by regulatory authorities.
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Competitive Landscape
Key companies operating in the juice concentrate market are Carotex Flavors, Northwest Naturals LLC Iprona SpA, Bell Flavors & Fragrances, Louis Dreyfus Company, Citromax, The Ciatti Company, SkyPeople Fruit Juice Inc., Kanegrade Ltd., AGRANA Investment Corp., Ingredion Inc., FruitSmart, Sudzucker AG, and SVZ International B.V.
Key strategies implemented by the leading players are increase in product portfolios, new product launches, and mergers & acquisitions to associate their market position.
About the Study
The study offers readers a comprehensive assessment of the Juice Concentrate market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product type (vegetables and fruits), form (powder and liquid), and end use (food & beverage, dietary supplements, cosmetics & personal care industry, and others), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE: Future Market Insights
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