The latest market report published by Credence Research, Inc. “Global Apple Juice Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Apple Juice Market generated revenue of around USD 14.8 billion in 2021 and is anticipated to grow a CAGR of over 6.8% during the forecast period from 2022 to 2028 to reach around USD 21.9 billion in 2028.
The growing consumption of apple juice throughout the world due to its numerous health benefits is a significant factor driving the growth of the global apple juice market in the future years. The substantial increase in demand and consumption of apple-flavored sauces, juices. Moreover, increased disposable income, growing aged population, and rising living standards in emerging nations contribute to market growth in the coming years. Furthermore, the shift in consumer preference toward beverage and convenience food consumption, as well as the expanding global population and rise in demand for nutritious and health-beneficial products, are anticipated to boost the demand for apple juices, which in turn fuels the growth of the apple juice market during the forecast period.
is bifurcated into Type, Nature, Form, End-User, and Geography. Based on type, the market is segmented into filtered and unfiltered. On the basis of nature, the market is categorized into organic and conventional. On the basis of form, the market is segmented into powder, tablets, capsules, and liquid. Based on end-user, the market is categorized into food industry, dietary supplements, household (retail), and others. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, North America dominated with largest revenue share in the global apple juice market due to increasing customer desire for healthy and organic beverages in this region. Furthermore, growing consumer disposable income in countries such as the United States and Canada is predicted to propel the growth of the apple juice market during the forecast period. Asia Pacific ranked second with a considerable revenue share in the global apple juice industry due to growing awareness of the health benefits of consuming organic juices. Furthermore, growing awareness of disease-preventive food and beverage products and an increase in the number of healthy beverage producers are expected to play a significant role in driving up demand for apple juice in the market of Asia-Pacific.
There are several challenges that apple juice producers may face:
Seasonal fluctuations in supply: Apple juice production is dependent on the availability of fresh apples, which can vary significantly depending on weather conditions and other factors. This can make it difficult for producers to consistently meet demand.
Competition from other fruit juices: Apple juice faces competition from a wide range of other fruit juices, including orange, pineapple, and grapefruit juice. This can make it difficult for apple juice producers to stand out in the market.
High production costs: The cost of producing apple juice can be relatively high due to the cost of raw materials, labor, and transportation. This can make it difficult for producers to remain profitable.
Changes in consumer preferences: Consumers' preferences for different types of juice can change over time, which can impact demand for apple juice. Producers must be able to adapt to these changes in order to remain successful.
Food safety concerns: Apple juice producers must be careful to adhere to strict food safety regulations to ensure that their products are safe for consumption. This can be a significant challenge, particularly for smaller producers who may not have the resources to invest in advanced food safety systems.
Why to Buy This Report-
· The report provides a qualitative and quantitative analysis of the global Apple Juice market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
· The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level.
· In-depth analysis of the global apple juice market segmentation based on type, nature, form, and end-user.
· Major countries in each region with their import/export statistics.
· The global apple juice market report also includes analyzing of the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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