Being widely used in the beverage industry, the fruit concentrates find their primary use in making fruit juices. Sometimes even used as natural sweeteners and sugar substitutes too in certain desserts and confectioners.
This fruit concentrate market segment is accepted all over the world and growing globally following an increasing trend. This increasing trend in the market segment can be easily grasped when studying the consumption of processed foods in the developing countries majorly. With people all over the world turning to nutritional food consumption more these days to live a healthy life, the demand and consumption for fruit juices have considerably increased.
By 2023 the fruit concentrates market is expected to increase to USD $42.62 billion which amounts to a compounded annual growth rate of 5.5%. One of the advantages of the fruit concentrates is as the name speaks for itself, it is about 3 to 7 times more concentrated than the regular juices which make it easier for storage and shipping, hence making it less expensive when compared to its other alternatives.
Being one of the sought after foods across the globe, fruit concentrates are gaining more popularity as the time is progressing. Finding their use in various products across various industries some of the factors which drive its market growth are fewer storage costs, lower logistical costs, high demand in the beverage industry, sugar substitute in confectionery or bakery industry and the major one being the change in consumers tastes over the time.
One of the major hindrances for the fruit concentrates market are the knowledge of the downside of consuming fructose in larger quantities. The other are the benefits of consuming natural fruits over the fruit concentrates and the production of fruits around the world.
The global fruit concentrate market can be segmented into various categories in terms of the fruit type, the finished product form and the product application or use. Ranging from powder concentrates, liquid concentrates, clear concentrates, frozen concentrates and puree concentrates, the liquid concentrates tops the list when compared to the rest of them across the globe which is popularly used in the juice segment which is also known as the reconstituted fruit juice segment being categorized in the beverage market. Brands like Tropicana fall under the clear concentrate variant of the fruit concentrate segment which is going to see significant growth as the time progresses.
Leverage For Companies:
Based on the applications the fruit concentrates can have their reach expanded into various industries. Some of them being bakery, beverage, dairy, confectionery and much more. Amongst all, the beverage industry utilizes this fruit concentrates the most. One of the greatest leverages that fruit concentrates provide to whichever industry it finds its usage in, is the nutritional value, the pop of colours and the natural sweetness it adds to the finished product. This gives the businesses a legitimate reason to brand their products as a healthier and natural option for the consumers which helps them to feature themselves as a premium brand.
North America takes the baton in leading the fruit concentrate consumption across the globe. This has the largest market share and the growth of this segment is increasing at a steady pace.
In 2013, the European Union region accounted for two thirds which are about 66% of the of the complete fruit concentrates segment. This percentage is equated to about 6.5 billion litres consumption from EU region alone. Apart from the juice concentrates, this segment finds its use also in the confectionery and bakery segment in this region to be specific.
Coming to the Asian-Pacific, with the change in the health choices and awareness among people, their preferences are changing their course to healthy and nutritive alternatives. One of the major concerns this region has been facing and is being cautious about is the sugar content in processed foods which is losing the attention of many. People in this region are concentrating on healthy processed food selections which are now paving the way for the growth of the fruit concentrates market here.
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