by The global apple juice concentrate market comprises liquid or solid form of apple juice with higher concentration of apple content and lower water content than fresh juice. Apple juice concentrate is widely used in various food and beverage products including baby food, bakery products, confectionery, fruit juices, and others due to its nutritional profile and versatility. It contains various nutrients including vitamin C, antioxidants and polyphenols that possess anti-inflammatory and cardioprotective properties. The growing health-consciousness and consumer preference for natural ingredients in food and beverages is augmenting the demand for apple juice concentrate globally.
The Global Apple Juice Concentrate Market is estimated to be valued at US$ 3.2 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2030. The concentrated form extends the shelf life of apple juice allowing year-round availability and lower transportation costs. It provides balanced sweetness and acidity imparting natural flavor to various products without added sugar or preservatives.
Key Takeaways
Key players operating in the apple juice concentrate market size include Archer Daniels Midland Company, Green Plains Inc., POET LLC, Valero Energy Corporation, Cargill, Incorporated, Pacific Ethanol Inc., Flint Hills, Resources, The Andersons, Inc., Greenfield Global, LyondellBasell Industries N.V. These players are focusing on capacity expansion plans and new product launches to strengthen their market position.
The rapidly growing demand for nutritional and healthy food and beverages is fueling the consumption of apple juice concentrate globally. Its applications in infant food, dairy products, bakery, and confectionery are gaining popularity. Additionally, food processing companies are utilizing apple juice concentrate to enhance the nutritional value of end products.
The global apple juice concentrate market is witnessing strong growth in regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Rising health awareness and growing per capita expenditure on food and beverages are some factors supporting the regional expansion of key players.
Market key trends
One of the key trends gaining traction in the apple juice concentrate market is the increasing demand for organic and non-GMO varieties. Manufacturers are emphasizing on sourcing organic apples and developing clean label concentrates using natural extraction methods to cater to consumer sentiment for natural and sustainable ingredients. Additionally, product innovation and development of functional juices fortified with vitamins, minerals, and plant-based proteins are expected to open new opportunities over the forecast period.
Porter’s Analysis
Threat of new entrants: The market already has some big players controlling majority share leaving less space for new players to enter. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives products. Bargaining power of suppliers: Suppliers have high bargaining power as raw material suppliers are few for this market. Threat of new substitutes: Threat from substitutes is moderate as they not only include juice but other beverages as well. Competitive rivalry: The market is competitive with top players competing on the basis of innovation, quality and pricing.
Geographical regions with highest value concentration:
North America region accounted for the highest value share in apple juice concentrate market in 2020. The region has many apple producing countries like US and Canada contributing to easy availability of raw materials. The region also has high consumption of juices, making it ideal for apple juice concentrate producers to tap value.
Fastest growing region:
Asia Pacific region is expected to be the fastest growing region for apple juice concentrate market between 2024-2030. This can be attributed to growing health consciousness and shift towards consuming healthy beverages especially in developing countries like India and China which are mega markets. Expanding distribution channels and promotion of apple juice concentrate benefits is further fueling demand growth in the region.
