by Apple juice concentrate is gaining popularity owing to its distinctive flavor and various health benefits associated with it. Apple juice concentrate contains Vitamin A, Vitamin C and benefits heart health. It is widely used as an ingredient in various beverages, desserts, baked foods and others.
The global apple juice concentrate market is estimated to be valued at US$ 2.77 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The global apple juice concentrate market is characterized by the presence of numerous small- and large-scale manufacturers who are focusing on new product development and launches to strengthen their market position. For instance, some of the products launched in the market include clear, cloudy, sweetened and unsweetened concentrates along with organic concentrates. Apple juice concentrates are used as an alternative sweetener in food & beverage applications and also to enhance taste and nutritional value of the end product. The growing consumer preference towards healthy, organic and natural food products is expected to drive the demand for apple juice concentrates over the forecast period.
Market key trends:
One of the key trends observed in the apple juice concentrate market is the increasing demand for concentrate infused with other fruits. Manufacturers are innovating and developing products infused with berries, citrus fruits and tropical fruits to expand their portfolio and cater to evolving consumer demand. For example, some popular product variants launched in the market include apple-cranberry, apple-mango and apple-strawberry concentrates. These multi-fruit concentrates provide enhanced nutritional profiles and unique tastes. Additionally, the clean label movement has prompted manufacturers to use all-natural colors and flavors in concentrates. This is expected to drive the demand for non-GMO and organic concentrates over the forecast period.
Porter’s Analysis
Threat of new entrants: The apple juice concentrate market has medium threat as it requires large capital investments for apple orchards and processing plants. However, many small vendors are able to enter the market.
Bargaining power of buyers: Buyers have medium bargaining power as they can negotiate prices but the availability of apple juice concentrate is limited mainly to harvest season.
Bargaining power of suppliers: Apple farmers have low bargaining power as there are limited suppliers for apples and apple juice concentrate worldwide.
Threat of new substitutes: The threat is medium as juices from other fruits like orange, grape can replace apple juice to some extent. However, apple remains a popular choice.
Competitive rivalry: The market is consolidated with top players controlling major market share. Competition is based on product quality, service, and brand value.
Key Takeaways
The Global Apple Juice Concentrate Market Growth is expected to witness high . The global apple juice concentrate market is estimated to be valued at US$ 2.77 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
Regional analysis comprises the Western Europe region dominates the global apple juice concentrate market currently. Countries like Germany, France, and Italy are the major apple producing countries in Europe supporting the market growth.
Key players operating in the apple juice concentrate market are Tree Top, Inc., Doehler Group, Ingredion Incorporated, Kerr Concentrates, Inc. Major players are focusing on capacity expansion, new product launches, and mergers & acquisitions to strengthen their market position. Tree Top focuses on expanding its production facilities to cater to the growing demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
