Global Apple Concentrate Market - 2022-2029

Global Apple Concentrate Market - 2022-2029

Market Overview

The global apple concentrate market valued USD xx million in 2021 and is forecast to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029)

Apple concentrate is a versatile ingredient with its neutral color and flavor. It is made of three major ingredients that are Apple juice, water and Ascorbic acid. Apple concentrate is used in various products such as sauce, snacks and beverages. It is also used as a sweetener as an alternative to sugar or syrup. It appears as a natural colored viscous liquid that reaches a taste like a ripe apple when reconstituted since this is highly acidic. The higher the acidity of apple juice, the less sweet it is to make various beverage products such as juice, soft drink, squash and cider. The increasing launch of apple concentrated-based food products is expected to fuel market growth.

Market Dynamics:

Rising consumer demand for the natural and healthy ingredients like apple concentrates

Rising health concerns among consumers increases the demand of apple concentrate market. Apple is a rich source of antioxidants, flavonoids, and dietary fiber, which help in reducing the risk of developing cancer, hypertension, diabetes, and heart disease. Apple juice concentrate's natural and healthy properties are a suitable substitute for various synthetic ingredients in food & beverage applications. Growing adoption of a vegan diet has led manufacturers of plant-based beverages to expand their product offerings. Some major regions like Europe and North America are shifting their preferences for plant-based beverages to expand their product offerings. The growing awareness regarding healthy food & beverages among the general population is projected to increase the competition.

The rising production of apple juice from powder concentrate is a major trend that has been observed in the market. In September 2016, scientists developed a method to prepare fruit juice from only apple powder concentrate without using juice concentrate in liquid form. Apple powder concentrate is traction in the market because the liquid form of juice needs to be packed and stored with special care and has a short shelf life compared to powder form. Therefore, the growing trend of producing apple juice from powder concentrate is projected to fuel the market growth of apple concentrate. As demand for apple concentrate increases, major key players focus on increasing product production. For instance, In December 2016, Starbucks introduced new baked apple drinks in Japan, which was a unique move from the company to cater to the changing demand of customers. Therefore, expanding the product line of the apple juice is projected to propel the market growth over the forecast period.

Market Segmentation:

Apple juice concentrate segment held highest market revenue share of XX% in the year 2021

Apple juice concentrate is delicious and crunchy, and it has a neutral color. It contains phytonutrients and antioxidants, including dietary fiber, vitamin C, beta carotene, B-complex vitamins and vitamin B6. It is used as a sweetener or to enhance other fruit characteristics in candies, frozen novelties, fruit snacks, jams, jellies, sauces and beverages. Increasing health awareness of consuming apple juice concentrate helps to generate highest segment revenue.

The beverages segment constituted the largest revenue share of the market as apple concentrate is widely used in a broad range of beverages such as smoothies, refrigerated juices, shelf-stable juices, and beers, ciders & wines, coffee & tea. The increasing demand for fruit-based beverages with natural sugar and containing low calories is expected to propel the growth of the apple juice concentrate market.

Geographical Penetration:

Asia Pacific is expected to dominate the global apple concentrate market in the year 2021

China is the major dominating country for apple concentrate market. Apple juice concentrate is one of China’s primary juice exports, and international sales have recently risen sharply amid a backdrop of otherwise sluggish trade. According to customs statistics, apple juice concentrate export volume during 2020 reached 245,000 tons with a total value of $254 million, corresponding to year-on-year increases of 140.1% and 98.7%, respectively. This massive increase in export volume has been felt throughout China’s major apple-growing regions. Asia based company, Shaanxi is the world’s top producer of apple juice concentrate. The production volume of apple juice concentrate in Shaanxi reached 358,000 tons. Shaanxi enterprises exported 76,200 tons of apple juice concentrate with a value of $81 million in the year 2020. They were increasing apple concentrate demand due to health benefits and rising the market demand.

Competitive Landscape:

Apple concentrate market is fragmented. Major key players include Compass Group, United Enterprises Co. Ltd., Elior Group, Aramark, CH&Co Catering Group Limited and Mitie Group plc. Some of the key players follow a merger and acquisition policy to increase product demand. For instance, In March 2021, Compass Group, the leading provider of contract food and support services, acquired a majority stake in food-tech startup SmartQ. The acquisition will enable Compass India to develop and deploy these solutions that will help their clients enhance employee workplace experience playing a key role in reshaping Compass India’s “return to work” strategy. In April 2021, Natural ingredient supplier Döhler Group was strengthening its presence in the European fruit concentrate market by acquiring Spanish sweet fruit processor Zucasa. This merger is helpful for the increase the production of apple concentrate. Some major company tries to continue to deliver product quality to consumers. For instance, Tree Top, Inc. continues to develop and sell high-quality apple juice. The company sells its apple juice in locations around the Western United States of America.

COVID-19 Impact: Positive impact on the global apple concentrate market

COVID-19 pandemic has impacted the food and beverages industry by increasing the consumption of a wide range of apple concentrates due to their health benefits. The extended lockdown has impacted considerably in Europe, the Americas, and worldwide; it has created an opportunity due to their demand because of raised awareness regarding health and increased concern for maintaining immunity and thereby well-being of health. Apple concentrate is one of the popular primary juice of china, people frequently drink apple concentrate. Hence rising consumption of apple concentrate helps to grow apple concentrate market.

However, due to the lockdown implemented across various countries, national and international transport has been hampered, significantly impacting the supply chain of numerous industries across the globe, thereby increasing the supply-demand gap. Thus, insufficiency in raw material supply is expected to hamper the production rate of apple concentrate, which negatively impacts the market growth.

Why Purchase the Report?
• Understand the current market scenario and viability of global apple concentrate market over the forecast period
• Visualize the composition of the global apple concentrate market in terms of type, application to identify major players, growth potential, and market strategies
• Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
• Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Excel data sheet with valuable data points of the global apple concentrate market – Regional and Country level segmentation
• Product mapping in excel for the key products of all major market players
• Market share analysis covering business revenues ($) and revenue share (%) of key market players

The global apple concentrate market report would provide an access to approximately 53 market data tables, 47 figures and 180 pages

Target Audience:
• Food and Beverages Manufacturers
• Cosmetic Industry
• Education & Research Institutes
• Research Professionals
• Pharmaceutical Industry