Apple concentrate is a versatile ingredient that is used as a sweetener or to improve the taste of the food such as frozen novelties, jellies, jams, candies, fruit snacks, sauces, and beverages. It is a healthy fruit ingredient and serves as an excellent sweetener by replacing sugar or corn syrup. It is used to prepare fruit juice beverages, flavored drinks, and fruit smoothies. It is also used in dairy, confectioneries, and yogurt products. Moreover, in some regions, it is served as a salad dressing and syrups. Furthermore, it is also used in cosmetic products.
The global apple concentrate market was valued at US$ 2,408.8 Mn in 2018 and is anticipated to grow at a CAGR of 5.0% during the forecast period (2019 to 2027).
Increasing introduction of Non-GMO apple concentrate is another prominent factor expected to propel the market growth of apple concentrate. Also, demand for Non-GMO apples around the world has increased significantly as compared to organic apples because of economic cost and decent yield. This factor is also expected to foster the market growth of apple concentrate over the forecast period. Furthermore, demand for apple concentrate is also increasing on the account of rising awareness among consumer regarding the health benefits of apple concentrate.
The increasing launch of apple-based juice is expected to offer new growth avenue to the market over the forecast period. For instance, in March 2019, Coca-Cola India, introduced an apple juice-based sparkling beverage called Minute Maid Apple Sparkle with 25 percent apple juice content. Hence the launch of apple-based juice is projected to foster market growth. Moreover, the rising usage of apple concentrate on the pharmaceutical industry for the manufacturing of medicines is further expected to fuel market growth.
The fluctuation of currency values has hampered the export and import patterns and this factor is expected to hinder the market growth of apple concentrate. For example, in 2016, the currency appreciation of Latin American countries has reduced the export of apple concentrates from the countries which are followed by depreciation which increased the exports of apples to North American countries in subsequent months. This disruption has reduced the production of apple concentrates in all the seasons this year. Another example, when Brazilian manufacturers have produced low quantities of concentrates between September 2015 and February 2016 because of currency appreciation, which is the major apple producing in Brazil. Hence, changing prices of currency is expected to restrict market growth.
Based on product type, the market for apple concentrate is segregated into liquid concentrate and solid concentrate. Based on liquid concentrate the market is further segmented into juice concentrate, puree or sauce concentrate, and others. Whereas, solid concentrate is further divided into powder concentrate and others. In 2018, liquid concentrate dominated the market for apple concentrate and contributed for 88.4% of the revenue share, globally.
Increasing launched of innovative apple-based juice is projected to propel the market growth. For instance, in February 2019, Researchers of Embrapa Food Agroindustry has developed an apple juice with live lactobacilli that does not require to be refrigerated. Until now, in Brazil, only dairy products contained these microorganisms that are beneficial to the intestinal flora. The new product is suitable for consumers who are allergic to milk and lactose intolerant, as well as for vegans. Hence increasing launch products is expected to foster market growth.
Rising demand for nutritious products due to rising health awareness among consumers is projected to fuel market growth. Increasing production of apple concentrate around the globe by major players is another major factor projected to propel market growth. Also, rising demand for a product with low sugar content beverages owing to rising health awareness is further projected to fuel the market growth over the forecast period.
MFN duty rate-11%
Sales tax- Depends on the province
Country specific import restrictions- Commercial importation of apple concentrate must comply with health, quality, labeling requirements and licensing requirements controlled by Canadian Food Inspection Agency (CFIA)
Players active in the market are Agrana Juice Gmbh, Tree Top Inc, Döhler GMBH, Shaanxi Hengtong Fruit Juice & Beverage Group Co Ltd, China Huiyuan Juice Group Ltd, Britvic Plc, Welch Foods Inc, Rauch Fruchtsäfte Gmbh & Co Og, Hermann Pfanner Getränke GmbH, and Cobell Ltd
Few Recent Developments
In 2016, Increased MRP of its Green Apple Juice because of a Sugar tax in U.K. Other products are unaffected
In May 2017, Symrise acquired Cobell to strengthen its position in the British market segment for beverages
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