Apple juice concentrate is a highly nutritious product made from apples. It is affordable and convenient alternative to fresh apple juice as it can be stored for long periods without refrigeration. Apple juice concentrate is preferred for commercial use in food & beverages industry due to its high consistency and longer shelf life. It is used in various products like juices, smoothies, yogurt, bakery products and others to enhance taste and nutrition. Rising health awareness has increased demand for natural fruit products which is driving growth of the apple juice concentrate market.
The global Apple Juice Concentrate Market is estimated to be valued at US$ 2.77 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Increased consumption of packaged beverages globally presents significant growth opportunity for apple juice concentrate market. Changing lifestyle and busy schedules have increased demand for on-the-go drinks which is driving sales of packaged beverages. Manufacturers are introducing innovative mixed fruit juices and smoothies containing apple juice concentrate to cater to evolving tastes. Also, rising health consciousness is making consumers prefer natural fruit products over carbonated drinks. This growing preference for packaged drinks with natural ingredients represents a major market opportunity for apple juice concentrate producers to expand consumer base. If apple juice concentrate producers form strategic collaborations with beverage manufacturers, it can help them leverage this opportunity for increased consumption substantially.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the apple juice concentrate market requires significant capital investment for R&D, machinery, and brand establishment. However, barriers to entry are low in developing countries due to minimal regulations.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitute products like orange juice concentrate. Buyers can negotiate lower prices by leveraging competition between existing players.
Bargaining power of suppliers: Apple producers have moderate bargaining power over apple juice concentrate manufacturers due to established supply chains and less product differentiation. However, the availability of alternate raw material sources reduces suppliers' leverage.
Threat of new substitutes: The threat of substitutes is moderate as industry concentration is high and switching costs for consumers and producers are significant. However, availability of alternative fruit-based concentrates poses a threat.
Competitive rivalry: The industry features strong competition amongst established players to tap the lucrative growth opportunities.
SWOT Analysis
Strengths: High nutritional value; long shelf life; adaptable applications across F&B industries.
Weaknesses: Seasonal availability of raw materials; fluctuations in apple production and quality.
Opportunities: Growing health-conscious population; rising product innovation and new product launches.
Threats: Stringent regulations; vulnerability to trade barriers and climate change impacting apple crops.
Key Takeaways
The Global Apple Juice Concentrate Market Size is expected to witness high growth over the forecast period. The growing health-conscious population and rising awareness about apple juice concentrate's nutritional benefits are key growth drivers.
Regional analysis - North America dominates the market currently due to the large apple cultivation and well-established juice industry in the US and Canada. However, Asia Pacific is anticipated to be the fastest growing market owing to increasing production and consumption in China and India.
Key players operating in the apple juice concentrate market are AGRANA Beteiligungs-AG, Baor Products, CitroGlobe S.r.l., Döhler GmbH, FIL Industries Private Limited, Fructrum GmbH, FruitSmart, H&H Products Company, Hermann Pfanner Getränke GmbH, Himalyan Food Park, Ingredion, Lizaz Food Processing, Old Orchard Brands, LLC. Key players are focusing on new product launches,Capacity expansions and mergers & acquisitions to strengthen their market positions.
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https://www.newswirestats.com/apple-juice-concentrate-market-size-share-growth-outlook-2023/
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the apple juice concentrate market include Ingredion Incorporated, Welch’s, H Products Company, Ve.Ba.
Cooperativa Ortofrutticola S.C., Louis Dreyfus Holding B.V., Döhler, Sonnländer, LemonConcentrate S.L., and Tree Top, Inc.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Apple Juice Concentrate Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/apple-juice-concentrate-market/download-sampleMarket DynamicsThe factors pushing the global apple juice concentrate market are rise in demand for products that are natural and plant-based, the convenience of use, and its growing popularity as a healthy replacement for carbonated soft drinks and as a substitute to refined sugar in bakery and confectionary items.
Increasing awareness about the health risk of consuming added sugar has fueled the demand for fruit-extracted sugar, which is also identified as de-ionized fruit juice concentrate, for instance, apple juice concentrate.
However, an insufficient supply of raw materials, increasing preference for cold-pressed as well as Not From Concentrate (NFC) juices may hamper the apple juice concentrate market to some extent.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
