New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Juices And Juice Concentrates Global Market Report 2023" - https://www.reportlinker.com/p06463972/?utm_source=GNW
, Del Monte Pacific Ltd., Keurig Dr Pepper Inc., Nestle S.A., PepsiCo Inc., The Coca-Cola Company, Northwest Naturals LLC, Iprona Spa, and Kerry Group plc.
The global juice and juice concentrates market is expected to grow from $37.54 billion in 2022 to $39.83 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The juice and juice concentrates market is expected to reach $48.19 billion in 2027 at a CAGR of 4.9%.
The juices and juice concentrates market consist of sales of different fruit juices and juice concentrates such as citrus, apple, pineapple, and mango and vegetable juices and juice concentrates such as beetroot, carrot, spinach, and mint., Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Juice is a natural fluid portion that can be squeezed out of vegetables and fruits for drinking.The juice concentrate is a powder made from an extract of a real fruit (such as an orange or lemon), whose water content has been drained and dried.
Concentrate is the powdered form of the juice.
Asia-Pacific was the largest region in the juices and juice concentrates market in 2022. The regions covered in juices and juice concentrates report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of juices and juice concentrates are juices, and juice concentrates.Juices refer to the naturally occurring liquid, fluid component, or liquid portion that may be taken from a plant or one of its sections, particularly from a fruit.
The various concentrations include concentrated, and non-concentrated, which are distributed through various distribution channels such as supermarkets or hypermarkets, convenience stores, specialty food stores, online retail, and others. These are used in various applications such as bakery and confectionery, beverages, dairy food, soups and sauces, and others.
The expansion of the food and beverage sector is expected to propel the growth of the juices and juice concentrates market going forward.The food and beverage sector encompasses all organizations that process, package, and distribute raw food products.
Consumers are preferring beverages with healthier option and these juices and juice concentrate acts as a replacement for sugar and flavoring agents juices, and contributing to a healthy beverages options, as a result, the expansion of the food and beverage sector boosts the growth of the juices and juice concentrate market. For instance, in December 2022, according to a report published by FoodDrinkEurope, a Food industry confederation in the European Union, the EU food and drink industry turnover was €1,121 billion ($1185.74 billion) in 2022 up from €1,093 billion ($1157 billion) in 2021. Therefore, the expansion of the food and beverage sector is driving the juices and juice concentrates market.
Product innovation is the key trend gaining popularity in the juices and the juice concentrates market.Major companies operating in the juices and juice concentrates market are focused on developing new products to strengthen their position in the market.
For instance, in October 2022, The EVERY Co., a US-based biotechnology company that develops proteins and other products traditionally sourced from animals, launched BUILD in partnership with Pulp Culture+. BUILD is the world’s first protein-boosted hard juice, a hyper-functional Full SpectrumTM beverage infused with probiotics, adaptogens, source-verified super fruits, superfoods, and animal-free EVERY Protein. This requires no masking agents, sugar, or other unnecessary additives. It includes trendy ingredients such as cordyceps, ashwagandha, and 5 grams of Protein.
In March 2021, AGRANA Group, a Vienna-based food manufacturer of sugar, starch, fruit preparations, juice concentrates, and ethanol fuel acquired Taiyo Kagaku Co.Ltd for an undisclosed amount.
Through this acquisition, AGRANA Group is expanding its presence within Asia with high standards for quality and inventive approach as the market leader worldwide in the fruit sector.Taiyo Kagaku Co.
Ltd., a Japan-based manufacturer and processes of fruit preparations, juice concentrates, emulsifiers, and stabilizers.
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.
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.
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.
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