LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global juice concentrate market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The western markets for juice concentrates, such as North America and Western Europe, have matured due to which players are currently targeting emerging countries like India and China for the sales of juice concentrates.
According to Manjunath Reddy, a lead food research analyst at Technavio, “Consumers are more inclined towards healthy food and beverages due to which many consumers across the globe are actively switching from aerated drinks to fruit and vegetable juices. Packaged juice manufacturers use fruit and vegetable juice concentrates in their products. Thus, the increasing consumption of juices is one of the prominent factors that is driving the growth of the global juice concentrate market.”
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The top three emerging market trends driving the global juice concentrate market according to Technavio research analysts are:
- Product launches
- Increasing demand for super fruit juice concentrate
- Customizable juice concentrates and fusion trends
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Product development, improved taste and versatility, along with high levels of marketing support, will increase the demand for juice concentrates in the market. Several players are currently launching juice concentrate ranges to expand their portfolio of products. For instance, in 2015, Welch’s launched grape juice concentrate in the European mainland while Nkwaleni Processors added clarified grapefruit juice concentrate 58° Brix to its product portfolio.
Many food and beverage players are currently using juice concentrates to manufacture their product offerings. For instance, in 2017, World Waters launched WTRMLN CHRRY that uses organic tart cherry juice concentrate, while Molson Coors Brewing Company launched Zumbida in 2016, that uses apple juice concentrate as an ingredient.
“More players are expected to launch juice concentrates during the forecast period to cater to the demand from new food and beverage manufacturers, who will be using juice concentrates to manufacture their offerings. This will help in enhancing the sales of the overall market,” says Manjunath.
Increasing demand for super fruit juice concentrate
The past years have witnessed a drastic rise in the number of health issues such as diabetes, obesity, and allergies among consumers. Thus, consumers have become increasingly health-conscious and are currently focusing on following healthy diets to prevent or reduce the occurrence of diseases and health conditions. They are turning away from artificial ingredients to more natural products, thereby increasing the overall demand for products which offer added value. Various super fruits, such as pomegranate, blueberry, strawberry, and others are used in the form of concentrates by food and beverage manufacturers. The popularity of these super fruit concentrates is increasing as various studies show that super fruits have high nutritive value and antioxidant content.
Examples of players that offer super fruit juice concentrates are AGRANA Beteiligungs, SVZ Industrial Fruit & Vegetable Ingredients, KERR CONCENTRATES, and SunOpta. With the growing demand for super fruits among consumers, more players will launch super fruit juice concentrates in the coming years, which augurs well for the global juice concentrate market.
Customizable juice concentrates and fusion trends
The trend for personalization is popular these days, and food and beverage manufacturers often opt for customized ingredients for their product offerings. For instance, popular brands like KERR CONCENTRATES offer fruit juice concentrates that are standardized by degrees Brix but can be customized to fit into unique applications. Players such as CitroGlobe and Novotaste also offer customization options for their customers. The trend for customized juice concentrates is likely to increase during the forecast period, which will further increase the popularity and sales of juice concentrates.
The fusion juice concentrate trend is gradually becoming popular among food and beverage manufacturers as the flavor of the product enhances if fusion juice concentrate is used. Currently, players like DYNAMIC BRANDS, Fusion Flavours, and others are offering fusion-based juice concentrates.
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