With the increasing health concerns among consumers, the demand for products made from natural and healthy ingredients is on the rise. Apple is a rich source of antioxidants, flavonoids, and dietary fiber, which help in reducing the risk of developing cancer, hypertension, diabetes, and heart disease. Being natural and healthy, apple juice concentrate is used as a suitable substitute for various synthetic ingredients in food & beverage applications. Several producers of food products and beverages are shifting toward natural nutrient-rich ingredients that offer several health benefits. The use of botanicals including apple juice concentrate has increased in the manufacturing of beverages. The growing adoption of flexitarian and vegan diets has led manufacturers of plant-based beverages to expand their product offerings. Besides, a majority of the population across the world, especially in Europe and North America, are shifting their preferences toward plant-based beverages. Thus, the rising demand for natural plant-based ingredients in various food & beverage applications is driving the growth of the global market for apple juice concentrate.
Apple Juice Concentrate Market Size is anticipated to reach USD 8731.4 Million by 2027, registering a CAGR of 4.57% during 2020-2027.
The Global Apple Juice Concentrate Market Outlook is projected to witness a high intensity of rivalry due to the presence of numerous global and local players. The established players in the market are targeting competitors in terms of quality, product packaging, and price, thus making the industry competitive. The growing awareness regarding healthy food & beverages among the general population is projected to increase the competition. The switching cost for the apple juice concentrate product is less as standards for apple juice concentrates are the same at the global level.
The Global Apple Juice Concentrate Market has been segmented on the basis of Type, Application, and Region.
By type, the global market has been divided into cloudy, de-ionized, and clarified. In terms of revenue, the clarified segment dominated the global apple juice concentrate market in 2018. However, the de-ionized segment is projected to register the highest CAGR of 4.6% during the forecast period. De-ionized apple juice concentrate is extensively used in a broad range of applications, especially as a natural sweetener or as a substitute to table sugar. It is processed to remove the naturally occurring flavors, acids, and colors, which leaves a colorless product containing natural sugar from the fruit.
Based on application, the global apple juice concentrate market insights have been classified as dairy & frozen desserts, bakery & confectionery, beverages, sauces, dips & spreads, and others. In 2018, the beverages segment constituted the largest revenue share of the market as Apple juice concentrate is widely used in a broad range of beverages such as smoothies, refrigerated juices, shelf-stable juices, beers, ciders & wines, and coffee & tea. The increasing demand for fruit-based beverages with natural sugar and containing low calories is expected to propel the growth of the apple juice concentrate market growth during the forecast period.
Geographically, the global apple juice concentrate market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Europe dominated the market, accounting for the largest market share of nearly 35% in 2018. However, the Asia-Pacific apple juice concentrate market is expected to register the highest CAGR of 5.1% during the assessment period, 2020 to 2027.
Market Research Future recognizes Ingredion Incorporated (US), H&H Products Company (US), Welch’s (US), Ve.Ba. Cooperativa Ortofrutticola S.C. (Italy), Döhler (Germany), Louis Dreyfus Holding B.V. (Netherlands), Sonnländer (Germany), Tree Top, Inc. (US), and LemonConcentrate S.L. (Spain) as the Key Players active in the Global Apple Juice Concentrate Market.
Key Findings of the Study
- The Global Apple Juice Concentrate Market is expected to register a growth rate of 4.57% between 2020 and 2027. Rising demand for natural plant-based ingredients is anticipated to propel the growth of the global apple juice concentrate market.
- By type, the clarified segment is projected to maintain its dominance throughout the review period 2020–2027. The segment is expected to record a substantial growth rate of 4.4% during the forecast period.
- The beverages segment, by application, is likely to hold the largest market share during the forecast period and is projected to have a growth rate of 3.9%.
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