Pune, India, Aug. 30, 2021 (GLOBE NEWSWIRE) -- NFC Juices Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “NFC Juices Market Information by Type, Category, Application, and Region - Forecast till 2028”, the market is anticipated to surpass USD 2,510.3 Million by 2028 at 3.58% CAGR.
Market Scope
Not From Concentrate (NFC) juices are made from natural fruit and/or vegetable extracts. No concentrates or chemicals are added to or mixed with the juices during the NFC procurement process. NFC juices come in a variety of flavors such as orange, lemon, apple, and pomegranate. In comparison to traditional beverages, NFC juices retain a greater amount of nutrition and flavor.
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Market Drivers
The market's growth is being fueled by rising demand for natural plant-based ingredients and the increasing popularity of convenience foods and beverages. As a result, demand for natural and healthy products is increasing. NFC juices are primarily made from single fruits or a combination of different fruits. Due to the nutritional value of various fruits, consumers consume food and beverages made from them or their processed forms such as puree, concentrates, and juice. The global NFC juices market is growing due to rising demand for natural plant-based ingredients and the increasing popularity of convenience foods and beverages. Growing consumer awareness of health issues and a preference for clean label products are expected to create growth opportunities for market players.
NFC Juices Market Competitive Landscape
- Döhler
- Kerr Concentrates
- CitroGlobe S.r.l.
- Louis Dreyfus Company
- Austria Juice
- LemonConcentrate S.L.U
- Kiril Mischeff
- Louis Dreyfus Company
- Prodalim Group
- Sun Impex
- Ariza BV.
Market Restraints
The regional availability of fruits, on the other hand, is expected to restrain market growth in the coming years.
Browse In-depth Market Research Report (99 Pages) on NFC Juices: https://www.marketresearchfuture.com/reports/nfc-juices-market-10600
COVID-19 Analysis
The COVID-19 pandemic's rapid spread has created a global crisis. With the rapidly increasing number of cases, the global market for NFC juices is being impacted in a variety of ways. The outbreak of the COVID-19 pandemic and subsequent implementation of lockdown strategies in a large number of countries limited the availability of labor to complete the manufacturing process. Additionally, the lockdown has harmed the transportation sector, impairing the supply of critical raw materials. Thus, the aforementioned factors harmed the global production process of fruit NFC juices.
Market Segmentation
The global NFC juices market has been segmented by product type into orange, lemon, apple, pomegranate, and blends. Orange accounted for 22.93 percent of the market in 2017 and is expected to grow at a healthy CAGR of 3.88 percent over the forecast period
The global NFC juices market has been segmented into organic and conventional juices. In 2020, the conventional segment held a larger market share of 79.56 percent.
The global market for non-alcoholic beverages, alcoholic beverages, bakery & confectionery, dairy & frozen desserts, and others has been segmented by application. In 2020, the non-alcoholic beverages segment held the lion's share of the market at 47.97 percent.
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Regional Insights
The global market for NFC juices has been segmented into four regions: North America, Europe, Asia-Pacific, and the Rest of the World.
Europe held the largest market share of 33.57 percent in 2020, and the market is expected to expand at a 3.23 percent compound annual growth rate during the forecast period. Numerous factors contribute to the growth of the European NFC juices market. The use of NFC juices in alcoholic beverages such as beers and ciders is expected to fuel the market's growth, as consumers in the region are increasingly demanding fruit-flavored alcoholic beverages. Fruit-flavored alcoholic beverages have grown in popularity among European consumers in recent years. For example, both production and consumption of flavored vodka and gin are significant in European countries, and millennials have been driving flavored alcoholic beverage sales in recent years.
However, the Asia-Pacific market is expected to grow at the fastest rate of 4.05 percent. The Asia-Pacific NFC juices market is growing due to rising consumption of ready-to-eat food products. Consumer preferences are changing, the population in developing economies is growing, and per capita disposable incomes are increasing, all of which have an effect on the sales of ready-to-eat products, where NFC juices are widely used.
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