Market Research Report
Concentrated fruit juice is a staple item in many homes because of its small footprint and low price compared to freshly squeezed juice. The process involves removal of water content so that the solid components such as minerals and vitamins are left in a more concentrated solution. The purpose of concentration is to ensure longer storage life and easier transportation. The fruit concentration process includes juice extraction, screening and centrifugal purification of the fruit extract. The concentration process helps to extract the flavour of the fruits.
The global market is estimated and forecasted in terms of revenue (USD million) and volume (KT) generated by the concentrated fruit juice market. The concentrated fruit juice market is primarily driven by increasing demand for processed food and beverages, rising concern and awareness among the consumers related to the quality of products. Additionally, increasing rate of health issues the need for the consumption of fruits juices is very important and rapidly changing lifestyle of the people further boost the growth of the market. The market competition is constantly growing higher with the rise in technological innovation in the industry. However, high-cost of production and shortage of raw material is hindering the growth of concentrated fruit juice market.
The concentrated fruit juice market is segmented into fruit type, application, distribution channel and geography, based on fruit type the global concentrated fruit juice market is divided into apple, orange, lemon, pineapple, grapes, pear, and other. Other includes mango, guava, watermelon, peach, and pomegranate. In 2017, the lemon fruit segment accounted for the highest market share and is expected to register for the highest CAGR during the forecast period. The steady increase in demand for fruit juices, and healthy and upmarket products are projected to increase the market, in terms of value, of concentrated lemon juice market.
On the basis of application, the concentrated fruit juice market is divided into beverage, confectionery, bakery, dairy and other. Other includes soups & sauces. Beverage segment holds a major share in the global concentrated fruit juice market and is expected to maintain its dominance over the forecast period. The largest market share is primarily attributed to increasing demand form beverage industry and rising preference of the consumers toward various fruit flavour beverages globally.
Based on distribution channel, the market is bifurcated into online distribution channel and offline distribution channel. The offline distribution channel is further bifurcate into super markets & hyper markets and departmental stores. The online distribution channel is expected to grow at a faster pace during the forecast period owing to significant shift of and adoption of online distribution channel due to globalisation and convenience of reaching the customers globally.
Based on geography, the global concentrated fruit juice market is segmented into North America, Europe, Asia Pacific and Rest of the World. Rest of the world includes Latin America and Middle East & Africa. Asia Pacific is anticipated to gain maximum share of theconcentrated fruit juice market in 2017. Additionally, increase in the cultivation of fruits in India and rapid industrialization in developed and developing countries like India and China are the major aspect driving the growth of this market in Asia Pacific. Moreover, China is a global leader and major exporters of juice concentrates in Asia-Pacific.
The key players in the concentrated fruit juice market are Agrana Beteiligungs Ag, China Haisheng Juice Holdings Co., Ltd, Döhler Group, Kerr Concentrates, Inc, Kerry Group Plc, LemonConcentrate S.L, Royal Cosun, ADM WILD Europe GmbH & Co.KG, SunOpta, Ciatti Company, Future FinTech Group Inc, Archer Daniels Midland Company, Ingredion Incorporated, Sudzucker AG and SVZ Industrial Fruit & Vegetable Ingredients. New product launches and endorsements are the key growth strategies adopted by major players to emphasise their positions in the international market. Furthermore, strategies such as expansions, along with partnerships and agreements were also implemented by frequent market players to expand their R&D competences and geographic presence in the global market.
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