Fruit Concentrate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global fruit concentrate market is projected to grow at a CAGR of 5.72% during the forecast period (2022-2027).

COVID-19 pandemic had greatly impacted the growth of Fruit Concentrate Market. Due to the strict restrictions, the manufacturing units were temporarily shut down which impacted the volume production of the Fruit Concentrate. The shortage of the workforce was observed owing to the movement of the workforce to their native places impacted the market growth during this period. Also, the disruption in the supply chain led to the shortage of raw materials and in the distribution of the end products. According to the world bank, the import of fruits and vegetables from Jan 2019 to Feb. 2020, has declined by 81.8%, owing to supply chain disruptions followed by export restrictions. Therefore, impact of COVID-19 on the market has limited the supply of fruits for the production of fruit concentrates.

Aided by the auxiliary demand from the beverage industry due to the increased consumption of convenience products including on-the-go beverages, the fruit concentrates market is estimated to experience a significant hike in the forecast period.

Liquid concentrates are considered preferable by many food manufacturers due to their better texture attributes and feasible consistency. Hence, holds the largest revenue share in the market.

Key Market Trends

Increasing Demand for Natural Food Products

The increasing obesity rates, diabetes, and heart disease, along with health food fads have caused a growing trend for more natural and healthy food, across the world. Therefore, fruit concentrate is increasingly being used as a substitute for refined sugar, in a variety of applications such as juices, cakes, desserts, chocolates, and confectionery items. Fructose in fruit concentrate is a healthier alternative to sucrose for diabetics, as it has a lower glycemic index than sucrose. Moreover, baked goods made with fructose will not only be sweet but also incredibly moist, because fructose attracts more water than granulated sugar. These advantages of fructose make fruit concentrate a highly-attractive natural substitute to sugar in the baking industry.

North America Holds the Major Share in Fruit Concentrate

The global market for fruit concentrates is being driven mostly by North America, which has the largest market share and is showing a steady increase in market growth. The North American market for fruit concentrates is being mainly driven by the United States. This is owing to increasing intake of fruits concentrate in a variety of food and drink products and increasing hectic lifestyle among consumers increases the consumption of ready-to-drink products. Various manufacturers in North America are offering fruits concentrates products that helps to increase the growth of this market. The market is projected to demonstrate continued growth in both developed and developing regions. The increasing demand for natural foods, along with health and nutritional concerns with respect to processed products, drives the market for fruit concentrates.

Competitive Landscape

The global fruit concentrate market is highly competitive owing to the presence of several local and international players. New product launches, partnerships, expansions, and acquisitions are the major strategies adopted by the leading companies in the fruit concentrate market, globally. Some of the major players in the global fruit concentrate market are Döhler, Ingredion Inc., Kerry Inc., and Archer Daniels Midland Company.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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