Mordor Intelligence announces the publication of its research report on the fruit concentrate market. The report titled “Global Fruit Concentrate Market-Growth, Trends and Forecasts” discusses the current landscape and outlook of the market.
The fruit concentrate market, estimated at USD 31.3 billion in 2016, is projected to reach USD 40.2 billion by 2021, with a compound annual growth rate (CAGR) of 5.48% during the forecast period.
Fruit concentrates are widely used in the beverage industry to make juices. They are commonly used as natural sweeteners and as a sugar substitute in a variety of applications such as desserts and confectionery items.
Fruit juices & flavors have a global popularity and are favored in virtually every region of the world. Consequently, fruit concentrate has its application across various industries and products. Factors driving the fruit concentrate market are, reduced logistical & storage costs, demand for a high scale of volume from the beverages market, its use as a substitute for sugar in the bakery sector and a changing consumer trends and food preferences. Moreover, the growth in food & beverage industry as a result of health food trends has given impetus to the fruit concentrate market.
Restrains in the fruit concentrate market are, awareness of the ill effects of excess fructose consumption, fresh fruit benefits as opposed to concentrated fruit and the dependency of fruit concentrate market on fruit production. Fruit concentrate market is also to an extent depended on application industries such as the confectionery and bakery industries.
The market for fruit concentrate is categorized based on product form, application and by fruit type. Fruit concentrates are available in liquid concentrate, powder concentrate, puree concentrate, clear concentrate and frozen concentrate forms. Among these segments, liquid concentrate comprises a major market share followed by powder concentrates.
Clear concentrate is expected to show a significant growth during the forecast period. Liquid concentrate is also called juice concentrate with its most prominent application being in the beverage industry in reconstituted fruit juice, with major companies such as Tropicana using reconstituted fruit juice in their bestselling products.
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Source: Mordor Intelligence