by Apple juice concentrate is a high-density juice made from apples. It is used as an ingredient in various beverages and food items due its nutritional value and taste. Apple juice concentrate is a valuable source of Vitamin C and antioxidants which benefits health in multiple ways. It is used in fruit drinks, energy drinks, dairy products, bakery items and more. With rising health consciousness globally, demand for natural and nutritional ingredients is increasing rapidly. This growing focus on wellness and fitness is expected to be a key driver for the apple juice concentrate market in the coming years.
The global apple juice concentrate market is estimated to be valued at US$ 2.77 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Asia Pacific accounted for largest share in the apple juice concentrate market in 2022, owing to rising disposable income, growing awareness about functional drinks and changing taste preferences in the region.
Market Dynamics:
The aforementioned driver of rising health consciousness is further expected to be bolstered by growing incidence of lifestyle diseases such as diabetes, obesity and cardiovascular issues, worldwide. As apple juice concentrate is sources of important vitamins, minerals and fiber; its consumption helps in managing weight and controlling blood sugar levels. Therefore, it is gaining popularity as an effective nutritional solution for lifestyle diseases. Moreover, increasing awareness about apple juice concentrate’s role in immunity boosting is also driving its demand from health-conscious consumers looking to strengthen their immunity. However, fluctuations in raw material prices impose challenge to market players. Also, availability of substitutes may hinder market growth over the forecast period.
Segment Analysis
The global apple juice concentrate market is dominated by the single strength segment, which accounts for over 60% share. Single strength apple juice concentrate, having Brix value between 61°-66°, is widely used in production of juice blends and other beverages. It offers advantages such as long shelf life and ease of transport. Double strength apple juice concentrate, having Brix value between 66.1°-71°, holds around 30% share. It is primarily used for export and production of intermediate syrup products.
PEST Analysis
Political: The apple juice concentrate market is impacted by trade policies and regulations related to fruit imports. Stringent quality standards and certifications are required.
Economic: Growth in disposable income levels and health consciousness is driving demand for fruit-based beverages. However, fluctuations in apple crop yields and prices impact the market.
Social: Rising awareness about natural and healthy lifestyle is increasing consumption of fruit juices among consumers. Demand for convenience products is also driving demand for juices in various package formats.
Technological: Advancements in extraction and membrane filtration technologies help produce high quality apple juice concentrates. This improves shelf life and aids efficient processing.
Key Takeaways
The Global Apple Juice Concentrate Market Size is expected to witness high growth. The global apple juice concentrate market is estimated to be valued at US$ 2.77 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
North America holds the largest share currently led by the US, owing to strong demand for fruit juices. Asia Pacific is poised to be the fastest growing region on account of expanding health beverage industry in countries like India and China.
Key players operating in the apple juice concentrate market includes Tree Top, Doehler Group, WATSONVILLE FROZEN FOODS, Louis Dreyfus Company, Citrosuco among others. Key players are focusing on new product launches and capacity expansions to cater to the rising demand. They are also investing in branding and promotional activities to strengthen market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
