Fruit Concentrate - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Fruit Concentrate - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Fruit Concentrate Market size is estimated at USD 46.67 billion in 2024, and is expected to reach USD 58.47 billion by 2029, growing at a CAGR of 4.61% during the forecast period (2024-2029).

The COVID-19 pandemic has significantly impacted the growth of the Fruit Concentrate Market. Due to the strict restrictions, the manufacturing units were temporarily shut down, which affected the volume production of the Fruit Concentrate. The shortage of the workforce was observed owing to the movement of the crew 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 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, the impact of COVID-19 on the market has limited the supply of fruits for producing fruit concentrates.

Aided by the additional 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.

Many food manufacturers consider liquid concentrates preferable due to their better texture attributes and feasible consistency. Hence, it holds the largest revenue share in the market.

Fruit Concentrate Market Trends

Increasing Demand for Natural Food Products

The increasing obesity rates, diabetes, heart disease, and health food fads have caused,d a growing trend for more natural and healthy food worldwide. Thus, fruit concentrate is increasingly being used as a substitute for refined sugar in various applications such as juices, cakes, desserts, chocolates, and confectionery items. Fructose in fruit concentrate is a healthier alternative to sucrose for people with diabetes, as it has a lower glycemic index than sucrose. Moreover, baked goods made with fructose will be sweet and incredibly moist because fructose attracts more water than granulated sugar. These advantages of fructose make fruit concentrate a highly-attractive natural substitute for sugar in the baking industry.

North America Holds the Major Share in Fruit Concentrate

The global market for fruit concentrates is driven mainly by North America, which has the largest market share and shows a steady increase in market growth. The United States is primarily driving the North American market for fruit concentrates. This is owing to the increased intake of fruits focused on a variety of food and drink products, and the increasingly hectic lifestyle among consumers increases the consumption of ready-to-drink products. Various manufacturers in North America are offering fruit concentrates products that help increase this market's growth. The market is projected to demonstrate continued growth in developed and developing regions. The increasing demand for natural foods and health and nutritional concerns with processed products drives the need for fruit concentrates.

Fruit Concentrate Industry Overview

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

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