Pune, India, Jan. 31, 2023 (GLOBE NEWSWIRE) -- The North America beverage fruit concentrate market size was valued at USD 2.27 billion in 2021. The market is projected to grow from USD 2.33 billion in 2022 to USD 3.29 billion by 2029, exhibiting a CAGR of 5.04% during the forecast period.
This information is presented by Fortune Business Insights, in its report titled, “North America Beverage Fruit Concentrate Market, 2022-2029.”
Fruit concentrates are mostly used in the beverage sector to produce a variety of drinks such as soft drinks, nectars, and ready-to-drink goods. Fruit juice consumption is increasing across North American nations, which surges the product demand. In order to expand their presence in the global market, businesses are also putting an emphasis on market penetration activities including merger and acquisition, production capacity growth, and regional expansion.
COVID-19 Impacts:
Industry Experienced Positive Growth due to Increased Price of the Product
The industry has experienced average growth throughout the COVID-19 crisis. Early trade restrictions and the closure of various players in distribution channels had an impact on the supply of raw materials and the final cost of the product. The COVID-19 limitations have an effect on fruit concentrate manufacturing as well. Across the value chain, it has had varying degrees of impact on firms. It had an effect on the finished product's costs throughout North America.
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List of Key Players Mentioned in the Report:
- Agrana AG (Austria)
- Citrofrut SA de CV (Mexico)
- Dohler Group (Germany)
- Grupo Fruxo (Mexico)
- Grupo Jumex, S.A. de C.V. (Mexico)
- Ingredion Incorporated (U.S.)
- Kerry Group Plc. (Ireland)
- Lemon Concentrate SL (Spain)
- Mexifrutas S A de C V. (Mexico)
- Prodalim Group (Israel)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 5.04 % |
| 2029 Value Projection | USD 3.29 Billion |
| Base Year | 2020 |
| North America Beverage Fruit Concentrate Market Size in 2022 | USD 2.33 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 91 |
| Segments Covered | By Fruit Type, By Country |
| North America Beverage Fruit Concentrate Market Growth Drivers | Rising Health Consciousness to Propel Consumption of High Nutritional Value Food to Fuel Growth |
| Increasing Investments in R&D to Improve Commercial Cultivation to Offer Growth Opportunities |
Browse Summary of this Research Report:
https://www.fortunebusinessinsights.com/north-america-beverage-fruit-concentrate-market-107123
Segments:
High Nutritional Benefits Paired with Ample Availability of Apple Concentrate Propel Segmental Growth
On the basis of fruit type, the beverage fruit concentrate market is divided into mango, apple, orange, and guava. The apple segment holds the largest North America beverage fruit concentrate market share among all other fruit types as it contains ample pectin, which helps promote gut health.
Report Coverage:
The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the North America beverage fruit concentrate market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective. The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 impacts have been added for additional information and how it is expected to affect the demand for product in the near future.
Drivers and Restraints:
Increasing Fruit Juice Consumption to Propel Beverage Fruit Concentrate Demand
In North American nations, the consumption of fruit drinks has been rising steadily. Energy drinks, fruit juices, and smoothies are among the many beverage items that are frequently made in the beverage business using fruit concentrates.
The consumption of ready-made or ready-to-drink (RTD) fruit juices is also a result of the fast-paced modern lifestyle and customers' eagerness to experiment with diverse flavors. Fruit concentrates are available in a variety of forms, such as liquid and powder concentrates, which have a longer shelf life and offer a flavor that is unusual.
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Regional Insights:
North America to Lead Stoked by Increasing Demand for Fruit Juice from the U.S.
The market for beverage fruit concentrate is dominated by sales in the U.S. Due to the rising demand for fruit juice and other ready-to-drink beverages with fruit as an ingredient, the nation is anticipated to dominate during the projected period.
Due to the rising demand for convenience foods, such as bottled soft drinks and fruit juices, the Canada market will experience steady growth during the forecast period.
One of the top producers of tropical fruit, such as mango and orange, is Mexico. Due to manufacturer merger and acquisition, collaboration, and partnership activities over the past 10 years, the market has become more competitive.
Competitive Landscape:
Important Business-related Announcements by Key Players to Influence Market Dynamics
Fundamental companies in the market often make crucial announcements regarding some business moves, which, in turn, affect the market either positively or negatively. Players acquire companies, launch new products, engage in partnership deals, sign contracts with government organizations, and so on.
Key Industry Development:
September 2021: In order to build its largest processing and operation plant in the U.S., Global Concentrate Inc., an American manufacturer and supplier of conventional and organic fruit and vegetable juice concentrates and other products, invested USD 121 million to purchase roughly 170 acres of industrial land in Franklin.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Market Overview of Related/Parent Market
- Industry SWOT Analysis
- Supply Chain Analysis
- Mexico Beverage Fruit Concentrate Supply Chain Analysis
- Regulatory Analysis
- Analysis on Spot Market Price of Fruit Concentrates
- Recent Industry Developments - Policies, Mergers & Acquisitions, and New Product Launches
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities Due to COVID-19
- North America Beverage Fruit Concentrate Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Fruit Type (Value)
- Mango
- Apple
- Orange
- Guava
- By Country (Value)
- U.S
- Canada
- Mexico
- By Fruit Type (Value)
- Competitive Matrix
- Competitive Landscape
- Market Share/Ranking Analysis
TOC Continued…!
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