A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global apple concentrate market. Presenting exclusive insights into the market from 2019 to 2029, the report projects that the market will witness notable growth during the forecast period. Extracted from apples, apple concentrate is available in a variety of forms, such as puree, juice, powdered or frozen, and is a key ingredient in the production of consumer juice products and beverages. Owing to the health benefits of apple, the demand for apple concentrate has increased in consumer healthcare products, squashes, and dairy products among others. The usage of apple concentrate in the production of juices is expected to remain the major growth driver of the market. In addition to that, increasing preference towards Non-Genetically Modified (Non-GMO) apples is expected to complement the healthy growth rate.
Extensive Usage in Production of Beverages to Strengthen Market Growth
Numerous players in the beverage sector have been focusing on introducing new variants of beverages, to cater to the growing demand from consumers. On this premise, the demand for apple concentrate has significantly increased with the introduction of apple-based beverages. Since the apple concentrate bolsters in extending the shelf life of products and reduces the cost of production, beverage manufacturers are inclined towards the usage of apple concentrate. Moreover, apple concentrate helps in overcoming the unavailability of raw material, and ensures the production remains unhinged. Furthermore, consumers across the world are preferring consumption of apple juice made from concentrate since the nutritional content is retained through the production process, and hence the demand for concentrate-based juice remains higher than fresh apple juice. As players in the beverage market ramp up production of carbonated apple drinks, the sales of apple concentrate are expected to witness an uptick. However, fluctuating prices of import and export is expected to remain a challenge to the swift growth of the market. The macroeconomic factor, the instability of currency values is also hindering the purchasing power of the nations, with emerging economies being hit the hardest.
Asia Pacific Remains Pivotal to Global Market Value
Asia is expected to remain a prominent region for the apple concentrate market, being one of the leading producers of apples in the geography. China dominates the production of apples, backed by the support of the government. Asia also remains the leading exporter of apple concentrate, and has attracted numerous beverage players over the years. North and Europe continue to dominate the global market, on the back of technological advancements in the fruit processing in the F&B industries, coupled with high demand for apple beverages in the regions.