Asia Pacific Concentrated Juice market size was around USD 16.32 billion in 2021. It is expected to grow at a CAGR of 6.5% to reach USD 22.36 billion by 2026. It captures 20% of the global market.
Stiff competition prevails in the Asia Pacific juice concentrate market and based on product differentiation few companies are gaining a competitive advantage over others. Launch of new products with respect to taste and flavour is what companies in this market are focused on to steal a march from their competitors. Increasing demand for convenience food & beverages, health consciousness of people in the developing regions, and the use of juice concentrates as a substitute for sweets in the bakery & confectionery industry are some of the major driving factors for this market.Growth in demand for NFC (not from concentrates) juices is a restraint faced by the market players. NFC juices are considered to be premium juices and are priced higher when compared to juices, which has influenced the buyer’s preference for consumption of NFC juices over juices made from concentrate.
The market is segmented
By type the market is categorized into
Fruit Juice Concentrates
Vegetable Juice Concentrates.
Fruit Juice Concentrates is further sub-segmented
Vegetable Juice Concentrates is further sub-segmented into Carrot, Cucumber, Tomato, Onion & garlic, others (spinach, beetroot, and ginger). Fruit concentrates accounted for a larger market share in 2015, and it is also projected to have a larger share during the forecast period due to the demand for healthy beverages which have led to the demand for higher yield for fruit juice concentrates. Fruit juice concentrates, such as apple concentrates and pear concentrates, are used as sugar substitutes in the bakery & confectionery industry, in the production of cakes, cookies, and pastries.
By application the market is sub-segmented into
Soups & sauces
Beverages accounted for the largest share of the juice concentrates market in 2015. Beverages have several applications, such as in energy drinks, juices, tea, and smoothies, and are available in different forms such as frozen, crystallized, or liquid. The beverage industry is growing in Asia Pacific and therefore the demand for fruits and vegetables for the production of new and innovative beverages is increasing.
By ingredients the market is segmented into
Single Fruit/Vegetable Concentrates
The multi-fruit/vegetable concentrate segment accounted for a larger share in 2015. Consumers’ desire to live an active and healthy lifestyle is one of the major drivers for the growth of the market. Regions, such as North America and Europe, have favourable markets for multi-fruit/vegetable concentrates. By brand the market is categorized into Archer Daniels Midland Company, Agrana Investment Corp., Sunopta, Inc., Ingredion Incorporated, and others. By form the market is categorized into Clear Concentrate, Powdered Concentrate, and Frozen Concentrate.
Asia Pacific Concentrated Juice Market geographical Analysis
Asia Pacific is expected to be the most attractive market for juice concentrate in the aforementioned forecast period. The burgeoning middle class in the developing countries of the region and changing lifestyles are key factors stoking growth in the region.
SkyPeople Fruit Juice Inc.
Archer Daniels Midland Co.
SVZ International B.V.
The Ciatti Company
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