Fruit Concentrate Market Size, Share, Growth Analysis, By Source(Apple, Citrus Fruits, Pineapple, Grapes), By Application(Food & Beverages, Nutraceuticals & Supplements, Pet food, and Others), By Distribution Channel(B2B, and B2C), By Region - Industry Forecast 2024-2031

Global Fruit Concentrate Market size was valued at USD 70.26 billion in 2019 and is poised to grow from USD 73.7 billion in 2023 to USD 73.7 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).

The juice from concentrate is actually fruit juice. The sole distinction is that it was processed, meaning that after being extracted from the actual fruit (such as an orange or lemon), its water content was drained and then dried up to produce a powder. The concentrate is the name given to this juice in powder form. Evaporation has a positive impact on business since it makes actual fruit juice less bulky and less expensive to ship. The market for fruit concentrates worldwide is expanding mostly due to the increased popularity of eating natural foods. Juices made from fruits and vegetables are becoming more popular among consumers as obesity, diabetes, and heart disease cases rise. To meet the rising demand for clean-label food goods, the major manufacturers are launching creative new products.

For example, New Citrus Extract, a cutting-edge citrus extract technology from Kerry, the Taste & Nutrition business, provides all the flavor advantages and effects of conventional natural citrus products while yet qualifying as a "Natural Extract." This best-in-class extraction technology can be used on a variety of citrus fruits and has a wide range of applications, including alcoholic drinks like hard seltzers, malt beverages, mocktails, and flavored beers and spirits, as well as refreshing drinks like sparkling and still flavored waters, ready-to-drink teas, juice drinks, isotonic and energy drinks, and craft carbonated soft drinks (CSDs).

The COVID-19 pandemic had a significant influence on the expansion of the fruit concentrate market. The volume of fruit concentrate produced was impacted because of the temporary closure of the manufacturing facilities due to the severe limitations. The market expansion during this time period was affected by the labour scarcity that was seen as a result of the person returning to their homes. Additionally, the supply chain disruption caused a lack of raw materials and hampered the distribution of finished goods. For example, the number of container ships is presently 8% below average due to COVID-19 regulations such caps on crew changes, increased screening, required quarantines, and decreased demand. Disruptions to truck and container shipping fall somewhere in the middle. In Canada and the United States, commercial road transport in April was around 20% lower than typical. Truck traffic in Europe originally decreased by more than 50% in Spain, 46% in France, and 37% in Italy, but it has since rebounded. The overall distance traveled by trucks in Europe by the middle of April was 24% less than usual.

US Fruit Concentrate Market is poised to grow at a sustainable CAGR for the next forecast year.