Apple juice concentrate is a product made through evaporation of natural apple juice. It provides the same great taste as pure juice with less added sugar and calories making it a safe substitute in preparing homemade juices, smoothies or cocktails. The concentrated juice allows manufacturers to produce high quality juices in large volumes and use it as an ingredient in yogurts, breakfast cereals, snacks and other processed foods. 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 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The increasing demand of apple juice concentrate as an ingredient in processed foods presents a key market opportunity. Manufacturers are increasingly utilizing apple concentrates in new product launches across categories like bakery, dairy and snacks to provide natural sweetness and juice flavors. The ease of handling and transport along with longer shelf life make concentrates a preferred choice for food processing. Further, the growing health awareness is driving demand for more natural and nutritious processed food options using fruit concentrates. The apple juice concentrate market is expected to witness significant growth driven by this rising application of concentrates in product development activities of food companies.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as the apple juice concentrate market is highly consolidated with key global players dominating the market. Significant capital is required to build processing plants and establish brand value in this market.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes. Buyers can switch to alternatives like pear or grape juice concentrates based on price or quality differences.
Bargaining power of suppliers: Apple farmers have moderate bargaining power due to concentration of suppliers in key regions. However, large processors can leverage economies of scale in procurement.
Threat of new substitutes: Potential threat from new substitutes like pear and grape juice concentrates is moderate since consumer preference for apple flavor profile is high.
Competitive rivalry: The competitive rivalry is intense due to the dominance of few global brands with recognizable names. Players focus on expanding production capacity and distribution channels to gain market share.
SWOT Analysis
Strengths: High consumer demand and preference for natural apple flavors. Easy availability of raw materials from apple producing regions.
Weaknesses: Seasonal nature of apple production leads to fluctuating raw material supply and prices. Imports dependent on international trade dynamics and climate changes.
Opportunities: Growing health-conscious population fuels demand for natural fruit products. Emerging markets in Asia Pacific provide new avenues for sales.
Threats: Threat from alternate juices affects off-season sales. Stringent regulations on food ingredients increases compliance cost.
Key Takeaways
The Global Apple Juice Concentrate Market Size is expected to witness high growth driven by rising health awareness among consumers.
North America currently dominates the market owing to large-scale concentrate production from key apple producing regions of Washington and Michigan. Some of the main apple growing belts include China, Poland, Italy, India, and the United States.
Key players operating in the apple juice concentrate market are INKIA, Martha Tilaar Group, Wipro Unza, Clara International, Ivy Beauty Corporation, Sdn Bhd Overview, Paragon Technology & Innovation, and Brataco Group of Companies. These brands are focusing on capacity expansions and new product launches catering to health-conscious consumers.
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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.
