Apple Concentrate Market to Grow at CAGR of 5.0% through 2026

Posted by Vikas Bahurupi on August 9th, 2018

According to the latest study conducted by Research Report Insights, the US$ 2 Billion global market for apple concentration is set to witness a CAGR of over 5% over 2026. The market will surpass 3 million tonnes in terms of volume by 2026.Increasing demand for liquid apple concentrates is seen as a major factor driving the global market for apple concentrates. On the other hand, solid apple concentrate Market has a miniscule influence over the market growth. 

Supported by strong supply chain, the market will also benefit from the arrival of diverse products. In addition, reduced production cost and increasing consumer preference for apple concentrate Market over apple fruit continues, knowing that it contains similar nutritional content, however, having a longer shelf-life pertinent to storage and transportation are favoring the overall market.

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Likewise, growing demand for non-GMO products is expected to support the global market for apple concentrate. Moreover, manufacturers are also developing variants of non-GMO products to meet the growing consumer expectation.  Steady adoption of non-GMO apple concentrates in the Food and Beverage sector that currently depends heavily on organic resources for preparing a range of food items. Further, introduction of new apple concentrate-based food products is amongst the key trend expected to govern the market over the forecast period

On the basis of application, the beverage segment will continue to be the dominant segment of the global apple concentrates, with ciders and juices registering for the highest consumption. Whereas in the food segment, confectionary and bakery products have the highest demand for apple concentrate, followed by dairy and frozen products.

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On the regional prospect, the market in Asia Pacific (APAC) will continue to exhibit attractive market opportunities. In addition, APAC is projected to increase a healthy CAGR of over 10% in terms of value. In APAC, China accounts for the highest production of apple concentrate Market, holding nearly 75% share of the total volume capacity over the forecast period. New Zealand, India and Australia is anticipated to be other major markets in Asia Pacific. On the other hand, the markets in Japan and North America are set to witness a relatively slower growth during the forecast period. Similarly, the market in the Middle East and Africa (MEA) region is primarily shaped by factors such as high demand-limited production capacity. In addition, GCC countries will account for maximum consumption of apple concentrate-based products. 

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Some of the Key players operating in the global market for apple concentration include Cobell, Rauch Fruit Juice, Britvic PLC, Shaanxi Hengtong, Tree Top, Agrana Juice, Doehler Group, Huiyuan Juice, Welch Foods, and Pfanner. Amongst these, Doehler Group, Tree Top and Agrana Juice are expected to major share of the market in terms of revenues.

In order to gain a competitive edge in the market, Agrana is heavily concentrating on higher research and development activities and M&A programs. Whereas Doehler is emphasizing on increasing production volumes, meanwhile Tree Top is actively focusing on improving product portfolio and launch newer items in the market. Britvic, however, is implementing strategies to improve production positioning and sales.