Apple juice concentrate is a product made from apples and water that is evaporated to increase the juice content and prolong shelf life. It contains a highly concentrated amount of nutrients, vitamins, minerals, antioxidants found in fresh apples. Apple juice concentrate is rich in vitamins A, C, and potassium and contains no added sugars or preservatives. It is widely used in making packaged juices, dairy products, baked goods, cereal, and baby food due to its versatility and long shelf life. The product offers manufacturers cost-effectiveness along with consistent flavor and taste compared to fresh apple juice.
The global Apple Juice Concentrate Market is estimated to be valued at US$ 870 million 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 driven by the rising health consciousness among consumers. Apple juice concentrate offers various health benefits such as improved heart health, weight management, blood sugar control, and antioxidant properties. It aids in lowering the risk of chronic diseases and protects cells from free radical damages. Additionally, the product is gluten-free and contains no added sugar, preservatives, or artificial flavors making it widely preferred by health-conscious consumers. Furthermore, the increasing demand for convenient and easy-to-use foods is propelling the demand for apple juice concentrate. The long shelf life and versatility of apple juice concentrate allow its use in various food and beverage products with minimal processing.
Market key trends:
One of the key trends in the apple juice concentrate market is the growing demand for clean label and organic products. Consumers are increasingly looking for products with simple and recognizable ingredients sourced from natural foods. As a result, manufacturers are introducing clean label and organic varieties of apple juice concentrate made from non-GMO apples and without artificial preservatives, sweeteners, or colors. Another trend gaining traction is the use of apple juice concentrate in functional beverages. Manufacturers are developing innovative gluten-free and low-sugar beverages containing apple juice concentrate for its various health benefits. This is expected to support the growth of the apple juice concentrate market over the forecast period.
Porter’s Analysis
Threat of new entrants: Low. The Apple Juice Concentrate Market Growth requires significant capital investment in machinery and farming. Barriers to entry are high due to established distribution channels and brands.
Bargaining power of buyers: High. Buyers have significant influence over producers due to the fragmented nature of the market. Large buyers can negotiate lower prices.
Bargaining power of suppliers: Moderate. A few large suppliers exist for apple production, however apples can be grown in many countries, reducing suppliers’ influence.
Threat of new substitutes: Moderate. Alternative fruit juices and beverages pose a threat, though apple juice has strong brand recognition and health halo.
Competitive rivalry: High. The market is highly competitive with many global and local producers vying for market share. Companies compete on price, quality, innovation and branding.
Key Takeaways
The global apple juice concentrate market is expected to witness high growth over the forecast period of 2023 to 2030. The global Apple Juice Concentrate Market is estimated to be valued at US$ 870 million in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
Regional analysis: Europe and North America are the largest and fastest growing regional markets for apple juice concentrate. Stringent health regulations ensure product quality and safety, promoting apple juice as a healthy alternative to sugar-sweetened beverages. Both regions have well-developed distribution channels serving food and beverage producers.
Key players operating in the apple juice concentrate market include TreeTop, Britvic PLC, Doehler Group, and Sonnländer.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it