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North America accounts for a significant share of the fruit concentrate industry owing to the robust growth of the food and beverage industry. As the demand for exotic fruit flavours in various food and beverage products is surging in the United States and Canada, fruit concentrates are extensively utilised, which is augmenting the industry growth. The rising health-consciousness owing to the prevalence of various health-related issues in the region is increasing the demand for food and beverage products containing food, hence fuelling the growth of the market. Moreover, the increasing use of organic fruit concentrates in bakery and confectionery products to enhance the taste and nutritional components are providing further impetus to the growth of the industry.
Kerry Inc. (OTCMKTS: KRYAY), one of the leading companies in the market, introduced New! Citrus Extract, an advanced citrus extract technology, in January 2020. The technology allows for the delivery of flavours as compared to traditional citrus products. It can be applied to various citrus fruits and can be used in various applications like flavoured teas, water, juices, and alcoholic beverages. The portfolio was developed with the aid of the company’s non-thermal liquid extraction process. The technology provides more effective preservation of aroma and citrus flavours, that are colourless and fully water-soluble. Moreover, the technology delivers a natural flavour and can be efficiently added to food and beverage products. Such technologies of citrus extraction are increasing the efficiency of the manufacturing of concentrates of citrus-based food, which is augmenting the growth of the market.
Market Analysis by Fruit Type, Form, Applications, Distribution Channel, and Region:
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The major players in the global fruit concentrate market are Ingredion Inc., Kerry Inc., SunOpta, Archer Daniels Midland Company, and Döhler GmbH, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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