The global market is expected to reach US$117 billion by 2025. In 2016, the beverages segment was the largest as the concentrates provide consumers with the desired flavour and tastes in their drinks.
In 2016, the fruit juice concentrate segment held a larger market share than vegetable juice concentrates. The major driver for this is the numerous applications fruit juice concentrates have—which include curds, ice-creams and others.
Juice concentrate is a condensed form of liquid achieved through heating the normal juices of fruits or vegetables, and used across different industries for providing the desired flavour and taste without artificial methods. Fruit juice concentrates are used for beverages, soups and sauces, bakery products, dairy product and confectionery products.
One of the major advantages associated with juice concentrates is their longer shelf life compared to usual juices, as well as their cost-effectiveness. However, it is the growth application of these concentrates across beverages along with rising consumer awareness about its benefits that has formed some of the major drivers for this market.
On the basis of form, the market has been segmented into clear concentrate, frozen concentrate and powdered concentrate, with the market mostly dominated by clear concentrate followed by powdered concentrate.
Asia Pacific has the fastest growth among other regions and is expected to grow significantly in the next few years. Rise in awareness regarding the uses and benefits of juice concentrates, along with convenience associated with the beverage products made from the concentrates has helped the market to grow.