Persistence Market Research, in its recently published report titled “Global Market Study on Apple Concentrate: Liquid Concentrate Segment Anticipated to Register the Highest CAGR in Terms of Value over the Forecast Period ”, predicts that the global apple concentrate market will witness modest growth during the next decade. In terms of volume, the global apple concentrate market will cross 3 million tonnes by 2026. By revenues, this US$ 2.0 Bn market is likely to see a promising CAGR of 5.6% through 2026.
Juice Concentrate Sub-segment will Maintain 90%+ Revenue Share Throughout the Forecast Period
Demand for liquid apple concentrates will continue to rake in the bulk of market revenues, with the solid apple concentrate segment projected to account for a paltry 11% revenue share of the market. Used widely in juices, vinegar, ciders, bakery, and other products, the juice concentrate sub-segment will maintain 90%+ revenue share throughout the forecast period.
By application, beverages will continue to account for the highest demand for apple concentrates, with juices and ciders accounting for the highest consumption. Within the food segment, bakery and confectionary will lead, followed by the dairy and frozen products sub-segment.
New Concentrate Products and Non-GMO Apple Varieties will Continue to Enter the Market
Launch of new apple concentrate-based products will continue to remain a pervasive trend. Supported by diverse products, the market will also be favored by another strong supply-side driver – competitive production costs. Consumer preference for apple concentrate over apple fruit will persist, as it offers the same nutrient content as apple but with an extended shelf-life suitable for transportation, storage, and usage.
Consumer preference for non-GMO products will influence the global apple concentrate market, with demand for non-GMO variants expected to witness a steady uptick during the forecast period. Adoption of non-GMO apple concentrate is steadily growing in the F&B sector, which currently relies heavily on organic apples for its range of ‘health and wellness’ offerings.
APEJ to Remain the Most Lucrative Market
APEJ will maintain its preeminent position over the next decade, expanding at a robust CAGR of 10.8% in terms of value. China will remain the largest producer of apple concentrate, maintaining over 75% share by production capacity throughout the forecast period. Australia, New Zealand, and India will be the other lucrative markets in APEJ. While APEJ will witness steady growth, markets in North America and Japan are projected to witness sluggish growth over the forecast period. Low production-high demand will shape-up the market in MEA, wherein maximum consumption will be registered by GCC countries.
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High Production Capacity Remains Key to Market Consolidation
Some of the most prominent players governing the competitive landscape of the global apple concentrate market include Agrana Juice, Tree Top, Doehler Group, Shaanxi Hengtong, Huiyuan Juice, Britvic PLC, Welch Foods, Rauch Fruit Juice, Pfanner, and Cobell. Among these, Agrana Juice, Tree Top, and Doehler Group are the top market revenue shareholders.