The global apple concentrate market witnessed substantial growth in the past few years, and this growth is expected to continue throughout the forecast period of 2019 – 2029. Towards the end of forecast period, the sales of apple concentrate will translate into revenues exceeding US$ 5 Bn, as per the projections of a new study.
The shelf life of apple concentrate ranges from months to several years, depending on the strength and type of concentrate, as compared to the significantly shorter shelf life of fresh juices. Thus, finished products such as apple juice, sparkling drinks, and soft drinks made from apple concentrate have a longer shelf life than those made from fresh fruit juices.
Longer shelf life of products made from apple concentrate reduces transportation costs and enables manufacturers to export their products and expand their geographical reach. It also allows manufacturers to offer specialized products for the military and astronauts. These products have a longer shelf life than the products made from apple concentrates for civilians.
Key takeaways – Apple concentrate market study
- Liquid concentrates hold the largest share in the global apple concentrate market by form. Powdered concentrates are expected to witness a slower adoption, owing to its high cost of production.
- China accounts for the largest share in the global apple concentrate market as it is the largest producer and exporter of apples and apple concentrate offerings in the global market.
- The beverage industry accounts for the largest share among all segments by application in the apple concentrate market and is expected to grow at the fastest rate during the forecast period.
Manufacturers can gain significant profits from focusing on the B2C channel, which has a limited number of market players.
Apple concentrate market: Competitive landscape
Key players in the global apple concentrate market strive to increase their production capacity by focusing on acquisitions, mergers, and expansion of their own production units. Such investments are also helping manufacturers to expand their geographical reach and penetrate more markets across the globe. Manufacturers are also investing in product innovation and developments for cost-effective processing methods for production of apple concentrate.
For instance, In July 2015, Britvic PLC acquired Empresa Brasileira de Bebidas e Alimentos SA (“ebba”) with an investment of US$ 174.9 Mn.
These insights are based on a report on Apple Concentrate Market by Persistence Market Research.