Juices and Juice Concentrates Global Market Report 2024

The juices and juice concentrates market size has grown steadily in recent years. It will grow from $35.82 billion in 2023 to $37.11 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. The growth observed in the historical period can be ascribed to several factors, including trends in health and wellness, innovations in flavors, the emphasis on convenience and on-the-go consumption, effective marketing and branding strategies, and an increase in disposable income.

The juices and juice concentrates market size is expected to see steady growth in the next few years. It will grow to $42.26 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The anticipated growth in the forecast period can be linked to various factors, including the incorporation of functional ingredients, the adoption of sustainability practices, an increasing focus on health consciousness, a demand for transparency and clean labeling, and the trend towards personalization. Noteworthy trends expected in the forecast period encompass innovative processing technologies, the prominence of digital marketing and e-commerce, the introduction of functional and health-boosting varieties, a preference for clean label and natural ingredients, options for sugar reduction and low-calorie products, and the popularity of cold-pressed and raw juices.

The projected expansion of the food and beverage sector is set to drive the growth of the juices and juice concentrates market in the future. The food and beverage sector encompasses organizations involved in the processing, packaging, and distribution of raw food products. With consumers increasingly favoring healthier beverage options, juices and juice concentrates are emerging as replacements for sugary and artificially flavored beverages, contributing to the availability of healthier drink alternatives. This shift is expected to boost the juices and juice concentrates market, as exemplified by a report from FoodDrinkEurope in December 2022, indicating a turnover of €1,121 billion ($1,185.74 billion) in the EU food and drink industry in 2022, up from €1,093 billion ($1,157 billion) in 2021. Therefore, the expansion of the food and beverage sector is a driving force for the juices and juice concentrates market.

The growing demand for functional beverages is anticipated to drive the growth of the juices and juice concentrates market. Functional beverages, which are non-alcoholic drinks enriched with additional ingredients such as vitamins, minerals, herbs, amino acids, and other bioactive compounds, offer health benefits beyond basic nutrition. Juice concentrates play a vital role in the production of functional beverages, providing a convenient, cost-effective, and nutritious ingredient that can be utilized in various applications, offering additional health advantages. For example, a report from Circana in July 2023 highlighted a 12.4% increase in sales for the overall sports drinks category, totaling $11.2 billion in total U.S. multi-outlets with convenience stores. Hence, the rising demand for functional beverages is propelling the juices and juice concentrates market.

Product innovation stands out as a prominent trend in the juices and juice concentrates market. Major companies in this market are actively engaged in developing new products to enhance their market positioning. For instance, in October 2022, The EVERY Co., a U.S.-based biotechnology company specializing in proteins and other products traditionally sourced from animals, introduced BUILD in collaboration with Pulp Culture+. BUILD, the world's first protein-boosted hard juice, is a Full Spectrum beverage infused with probiotics, adaptogens, source-verified super fruits, superfoods, and animal-free EVERY Protein. It distinguishes itself by excluding masking agents, sugar, or unnecessary additives and features trendy ingredients such as cordyceps, ashwagandha, and 5 grams of protein.

Strategic partnerships are a key approach adopted by major companies to drive revenues in the juices and juice concentrates market. These partnerships involve collaborative efforts to achieve mutual benefits, such as expanding market reach, fostering product innovation, and leveraging each other's strengths. For instance, in September 2021, Valrhona, a France-based chocolate manufacturer, collaborated with Koa, a Switzerland-based cocoa company, to introduce Oabika, a cocoa fruit juice concentrate designed for chefs and gastronomy professionals. Oabika, with a 72° Brix concentration, was initially developed for the food service industry and stands out with its amber hue and silky consistency.

In March 2021, AGRANA Group, a Vienna-based food manufacturer specializing in sugar, starch, fruit preparations, juice concentrates, and ethanol fuel, acquired Taiyo Kagaku Co. Ltd for an undisclosed amount. This acquisition allows AGRANA Group to expand its presence in Asia with a focus on quality and innovation, solidifying its position as the global leader in the fruit sector. Taiyo Kagaku Co. Ltd. is a Japan-based manufacturer involved in the processing of fruit preparations, juice concentrates, emulsifiers, and stabilizers.

Major companies operating in the juices and juice concentrates market report are Welch Foods Inc., SVZ International B.V., Sudzucker AG, Ingredion Incorporated, DöhlerGroup, Symrise AG, Kanegrade Limited, The Archer-Daniels-Midland Company, Ocean Spray Cranberries Inc., Del Monte Pacific Ltd., Keurig Dr Pepper Inc., Nestle S.A., PepsiCo Inc., The Coca-Cola Company, Northwest Naturals LLC, IPRONA S.p.A., Kerry Group plc, Kirin Holdings Company Limited, AGRANA Beteiligungs AG, CitroGlobe Srl, Ciatti Company, Berrifine AS, Tampico Beverages Inc., SunOpta Inc., Tree Top Inc., Tropicana Products Inc., Citrosuco, Louis Dreyfus Company B.V., China Haisheng Juice Holdings Co. Ltd., Refresco Group BV.

Asia-Pacific was the largest region in the juices and juice concentrates market in 2023. The regions covered in the juices and juice concentrates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the juices and juice concentrates market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories within the domain of juices and juice concentrates encompass both the liquid form of juices and their concentrated counterparts. Juices denote the naturally occurring liquid or fluid component extracted from plants or specific parts, notably fruits. Concentrations may vary, including both concentrated and non-concentrated forms, with distribution occurring through diverse channels such as supermarkets, hypermarkets, convenience stores, specialty food outlets, online retail, and more. These products find application in various sectors, including bakery and confectionery, beverages, dairy foods, soups and sauces, among others.

The juices and juice concentrate market research report is one of a series of new reports that provides juices and juice concentrates market statistics, including juices and juice concentrates industry global market size, regional shares, competitors with a juices and juice concentrate market share, detailed juices and juice concentrate market segments, market trends, and opportunities, and any further data you may need to thrive in the juices and juice concentrates industry. This juices and juice concentrates market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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