The South America juice concentrates market is expected to grow from US$ 6,357.79 million in 2022 to US$ 9,282.35 million by 2028. It is estimated to grow at a CAGR of 6.5% from 2022 to 2028.
Demand for Organic and Clean Label Products is Driving South America Juice Concentrates Market
Organic fruit and vegetable concentrates are in high demand among health-conscious consumers as these concentrates offer numerous health benefits. The organic form of fruits and vegetables is cultivated without the incorporation of artificial fertilizers or harmful chemicals, pesticides, and synthetic fertilizers. In addition, the demand for organic fruits and vegetables containing juice concentrates is rising rapidly among developed economies due to the growing trend of a healthy lifestyle. The importance of organic farming is growing due to the rising number of alarming health issues caused by the consumption of harmful synthetic additives and chemicals. Organic fruits and vegetable juice concentrates are rich in protein, vitamins, antioxidants, and carbs, as well as healthy fats. The concentrate is non-GMO and keto-or paleo friendly.
Moreover, strict government regulations on food additives are a major concern for food processors and manufacturers. Owing to this, many companies operating in the food & beverages industry are focusing on producing clean-label products by not using or limiting food additives and increasing the adoption of natural food colors and flavors as substitutes for synthetic food additives. Food manufacturers are also focusing on leveraging consumer preference toward wellness and health over the cost of products and using juice concentrates as a natural ingredient to secure clean label approval for various food and beverage products. Thus, increasing demand for organic and clean labelled products has expected to drive the growth of juice concentrates market in coming years.
South America Juice concentrates Market Overview
The juice concentrates market in South America is growing at significant rate. Food and beverage manufacturers are increasingly using juice concentrates as base ingredients in a variety of products. With the rapid evolution in the tastes and preferences of consumers, companies are seeking to incorporate juice concentrates in different alcoholic and non-alcoholic beverages, in order to develop exotic and unique flavor profiles. In addition, the introduction of new products, such as multi fruit juice, and improvements in packaging, which may eventually lead to extended product lifecycles, may also boost the market studied in the region. Hence, the demand for juice concentrates is increasing, which is expected to fuel the growth of the juice concentrates market in the region during the forecast period.
South America Juice Concentrates Market Revenue and Forecast to 2028 (US$ Million)
South America Juice concentrates Market Segmentation
The South America juice concentrates market is segmented into type, category, form, application, and country.
Based on type, the juice concentrates market is bifurcated into fruit juice concentrates and vegetable juice concentrates. The fruit juice concentrates segment held a larger market share in 2022.
Based on category, the juice concentrates market is bifurcated into organic and conventional. The conventional segment held a larger market share in 2022.
Based on form, the juice concentrates market is bifurcated into powder and liquid. The liquid segment held a larger market share in 2022.
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 the largest market share in 2022.
Based on country, the South America juice concentrates market is segmented into Brazil Argentina, and the Rest of South America. The Rest of South America dominated the market in 2022.
AGRANA Beteiligungs AG; Archer-Daniels-Midland Co; Ciatti Co; Dohler GmbH; Ingredion Inc; and Berrifine AS are the leading companies operating in the South America juice concentrates market.