Report : Europe Juice Concentrates Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type (Fruit Juice Concentrates and Vegetable Juice Concentrates), Category (Organic and Conventional), Form (Powder and Liquid), and Application (Bakery and Confectionery; Beverages; Soups, Sauces, and Condiments; Dairy and Frozen Dessert; and Others)
At 6.2% CAGR, the Europe Juice Concentrates Market is speculated to be worth US$ 30,355.58 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe juice concentrates market was valued at US$ 21,169.36 million in 2022 and is expected to reach US$ 30,355.58 million by 2028, registering a CAGR of 6.2% from 2022 to 2028. Growing application of juice concentrates and increasing demand for natural food products are the critical factors attributed to the Europe juice concentrates market expansion.
The increasing incidence of obesity, heart disease, and diabetes, along with growing trend of health food fads, are a few factors contributing to the rising need for natural and healthy food. Therefore, fruit juice concentrate is increasingly used as a substitute product for refined sugar in a wide variety of applications such as juices, cakes, chocolates, and confectionery items. Fructose in fruit concentrate is a healthier alternative to sucrose for people suffering from diabetes, as it has a lower glycemic index than sucrose. Furthermore, baked goods made with fructose are sweet and incredibly moist because fructose attracts more water than granulated sugar. These advantages of fructose make fruit concentrate a highly attractive natural substitute for sugar in the baking industry.
In addition, juices are considered a healthy alternative to carbonated drinks. Juice concentrates are a healthy option as they are enriched with essential minerals and nutrients required by the human body. Due to the hectic lifestyle of working-class consumers and changes in consumer lifestyles, their bodies lack nutrients along with antioxidants that aid in dealing with various hair, heart, skin, and other health-associated problems; this is a key factor increasing the demand for juice concentrates. Thus, increasing demand for natural food products due to rising health-conscious population is expected to drive the market growth.
On the contrary, fluctuation in raw material prices hurdles the growth of Europe juice concentrates market.
Based on type, the juice concentrates market is bifurcated into fruit juice concentrates and vegetable juice concentrates. The fruit juice concentrates segment held 65.2% market share in 2022, amassing US$ 13,794.98 million. It is projected to garner US$ 19,448.83 million by 2028 to expand at 5.9% CAGR during 2022–2028.
Based on category, the juice concentrates market is bifurcated into organic and conventional. The conventional segment held 76.7% market share in 2022, amassing US$ 16,228.14 million. It is projected to garner US$ 22,738.06 million by 2028 to expand at 5.8% CAGR during 2022–2028.
Based on form, the juice concentrates market is bifurcated into powder and liquid. The liquid segment held 71.9% market share in 2022, amassing US$ 15,213.81 million. It is projected to garner US$ 21,427.91 million by 2028 to expand at 5.9% CAGR during 2022–2028.
Based on application, the juice concentrates market is segmented into bakery and confectionery; beverages; soups, sauces, and condiments; dairy and frozen dessert; and others. The beverages segment held 46.4% market share in 2022, amassing US$ 9,827.01 million. It is projected to garner US$ 13,835.21 million by 2028 to expand at 5.9% CAGR during 2022–2028.
Based on country, the Europe juice concentrates market is segmented into Germany, U.K., France, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 37.0% market share in 2022. It was assessed at US$ 7,840.38 million in 2022 and is likely to hit US$ 10,843.91 million by 2028, exhibiting a CAGR of 5.6% during the forecast period.
Key players dominating the Europe juice concentrates market are AGRANA Beteiligungs AG; Archer-Daniels-Midland Co; Berrifine AS; Ciatti Co; Dohler GmbH; Ingredion Inc; SVZ International BV; Kanegrade Ltd; CitroGlobe SRL; and IPRONA SpA are the leading companies operating in the Europe juice concentrates market.
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