A new report from Meticulous Research® reveals that the global juice concentrates market is poised for significant growth, projected to reach $115.50 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.1% between 2024 and 2031. The market's expansion is fueled by the rising demand for convenience foods, increased health-consciousness among consumers, and ongoing innovations in juice concentrate products.
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However, the market faces some challenges, particularly the growing preference for Not From Concentrate (NFC) juices, which could potentially slow growth. Despite this, opportunities for growth remain strong, especially with the increasing demand for natural and organic products and the rising popularity of plant-based and functional ingredients. Additionally, a trend toward premium and artisanal juice concentrates is expected to further shape the market.
1 Key Players Shaping the Market
Prominent companies in the juice concentrates market include Archer-Daniels-Midland Company (U.S.), Ingredion Incorporated (U.S.), Kerry Group plc (Ireland), and others like Südzucker Group, Döhler Group, and Symrise AG, all based in Germany. These companies are driving innovation and competition in the sector.
2 Market Breakdown by Type and Geography
The market is segmented into fruit and vegetable juice concentrates. The fruit juice concentrate category, which includes citrus, apple, pineapple, grape, and berry juices, is projected to account for 69.8% of the market in 2024. Citrus fruits are expected to dominate the fruit juice segment, holding 35.8% of the market share.
Geographically, the report covers the market's performance across regions, including North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa.
In conclusion, while challenges exist, the juice concentrates market is set for robust growth, supported by health trends, innovation, and consumer demand for natural and convenient food options.
