Global Cherry Concentrate Market by Concentrate Type (Aseptic Cherry Concentrate, Frozen Cherry Concentrate) - Aseptic Cherry Concentrate Expected to Grow at a CAGR of 4.4% from 2023 to 2033
Industry: Food and Beverages
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP33283
Newly-released Cherry Concentrate Market analysis report by Persistence Market Research reveals that global sales of Cherry Concentrate in 2022 was held at US$ 989 Million. With 4.5% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 1.6 Billion by the end of the forecast period. Aseptic cherry concentrate is expected to be the highest revenue-generating type of cherry concentrate, projected to grow at a CAGR of over 4.4% from 2023 to 2033.
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Attributes |
Details |
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Cherry Concentrate Market Size Value In 2022 |
US$ 989 Million |
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Cherry Concentrate Market Size Value in End of Forecast (2033) |
US$ 1.6 Billion |
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Cherry Concentrate Market CAGR (2023-2033) |
4.5% |
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U.S. Cherry Concentrate Market CAGR (2023 – 2033) |
3.4% |
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Key Companies Covered |
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As per the research of Cherry Concentrate Market by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2018 to 2022, the value of the cherry concentrate market increased at around 5.4% CAGR. With an absolute dollar opportunity of US$ 579 Million, the market is projected to reach a US$ 1.6 Billion valuation by 2033.
The cherry concentrate is used in many applications such as juices, jams, marmalades, syrups, ready meals, soft drinks, and bakery products. Cherries have many essential nutrients and are rich in antioxidants. They have several proven health benefits which account for their demand growth.
Cherry production across the globe has increased from 4,036,859 metric tons in 2019 to 4,088,595 tons in 2020 marking a growth of 1.3%. This growth in cherry cultivation is likely to result in their stabilized price, thus encouraging cherry concentrate manufacturers to produce more.
Additionally, fruit concentrates are cheaper than regular juices and they have a longer shelf life and inhibit bacterial growth. These benefits of fruit concentrate over fruit juices are expected to gain demand during the projected period.
Besides, Covid 19 has significantly influenced consumers’ buying habits, and the trend to prioritize health is likely to stick around in upcoming years. In 2016, sales of organic beverages in the U.S. were around 1.4 Billion which increased to around 1.8 Billion in 2022. This significant growth in consumers’ preference for organic beverages is likely to create growth opportunities for the market.
Studies by Sleep Foundation have shown that nearly 10% to 30% of adults struggle with insomnia of which 30% to 48% of older adults experience it. Studies by the National Library of Medicine have shown that tart cherry type of cherry concentrate in the form of juice has a significant effect in improving sleep efficiency and sleep duration.
This health benefit can act as a catalyst for cherry concentrate demand. The study conducted by the National Library of Medicine to test various health benefits of cherries has proven that consumption of cherries reduced oxidative stress, muscle soreness, and blood pressure acutely after ingesting cherries. These proven health benefits are expected to gain demand.
North America is a prominent consumer of cherry concentrates with a market size of US$ 397.6 Million in 2022 which is estimated to reach US$ 416 Million in 2023. It is projected that the regional market will reach US$ 648.8 Million in 2033.
A Canadian company Cherry Lane is promoting the health benefits of cherries with proven research. They have a farm located in Vinland, Ontario to provide their customers with fresh farm-grown cherries to produce cherry concentrates. This strategy is likely to gain demand for their tart cherry concentrate juices as consumers prefer farm-grown and organic beverages.
United States Cherry Concentrate Market Analysis:
The United States market is expected to grow to be worth US$ 506.1 Million with an absolute dollar growth of US$ 144.9 Million from 2023 to 2033. Cherry Concentrate Market in the United States has grown at a CAGR of 4% from 2018 to 2022 and is expected to grow at a CAGR of 3.4% from the year 2023 to 2033.
Each year about 795,000 people in the U.S. have strokes and about 137,000 people die. The risk of stroke can be reduced by 38% if the average systolic blood pressure is reduced by 5-6 mmHg over a five-year period. Cherry juice concentrate can help to reduce peak old pressure by 7 mmHg. This benefit can be helpful to treat mild hypertension as the effect is comparable to antihypertensive drugs. This prominent health benefit of cherry concentrate is anticipated to gain more demand in the U.S.
China Cherry Concentrate Market Analysis:
The market in China is expected to grow to be worth US$ 138.2 Million with an absolute dollar growth of US$ 57.3 Million till 2033. Cherry Concentrate Market in China has grown at a CAGR of 6.9% from 2018 to 2022 and is expected to grow at a CAGR of 5.5% from the year 2023 to 2033.
In 2022, China had around 140 Million diabetic patients marking the highest number of diabetic patients in the world. According to a journal article, dietary anthocyanins found in cherries targets insulin sensitivity and promote increased insulin secretion in the body to control diabetes. Their study in 2014 has also shown that anti-oxidants in cherries can significantly help to lower glucose and microalbumin levels. This benefit of cherries in lowering glucose levels can increase demand for them in the China Cherry Concentrate Market.
Japan Cherry Concentrate Market Analysis:
In Japan, the market is expected to grow to be worth US$ 116.7 Million with an absolute dollar growth of US$ 37.8 Million till 2033. Cherry Concentrate Market in Japan has grown at a CAGR of 4.7% from 2018 to 2022 and is expected to grow at a CAGR of 4% from the year 2023 to 2033.
Japan has almost one-third of its whole population over 65 years old, while around 2.3 Million people are in their late 70s. The older population is most likely to suffer from gout or some form of joint pains associated with uric acid levels. Additionally, Asians are around 2.7 times more likely to be diagnosed with gout compared to non-Asians.
Studies have shown that 100% tart juice significantly helped reduce uric acid levels in most people who drink 8 ounces of juice every day for four weeks. Another study showed that consuming cherry concentrate juice can significantly reduce gout flare-ups. This health benefit of cherry concentrate juice is expected to gain demand in the Japanese Market.
United Kingdom Cherry Concentrate Market Analysis:
The United Kingdom market for Cherry Concentrate is expected to grow to be worth US$ 74.9 Million with an absolute dollar growth of US$ 23 Million. The market in the country has grown at a CAGR of 4.3% from 2018 to 2022 and is expected to grow at a CAGR of 3.7% from 2023 to 2033.
Arthritis is a common health condition in the U.K. with around 10 Million patients affecting all ages including children. The study by Oregon Health and Science University tested 20 females of age between 40 years to 70 years for the effects of drinking 10.5-ounce bottles of cherry juice twice a day for 21 days. A study has shown a significant reduction in C- reactive protein reducing inflammation with the regular consumption of cherry-based products. This concluded that cherry juice can help arthritis patients effectively manage the disease.
Which Application of Cherry Concentrate Market Is Projected to Witness the Significant Growth?
The cherry concentrate market for juices is projected to witness significant growth as it has grown at a CAGR of 5% from 2018 to 2022 and is expected to grow at a CAGR of 4.3% from 2023 to 2033.
Fruit concentrate juices are made using a method of reduced pressure in a vacuum method ensuring the preserved vitamins and inhibiting the development of microflora. This result in concentrated thick syrup which is easy to store and transport.
Cherry concentrate in the form of juice can be an excellent choice for a post-workout drink as it can significantly help reduce muscle soreness and regain energy loss. The convenience factor of cherry concentrate juices is expected to gain more demand as a substitute for natural store-bought juices.
Which Type of Cherry Concentrate is Projected to Witness the Significant?
Aseptic Cherry Concentrate is projected to witness significant growth as it has grown at a CAGR of 5.2% from 2018 to 2022 and is expected to grow at a CAGR of 4.4% from 2023 to 2033.
Aseptic fruit concentrates are prepared by evaporating water from fruit in order to reduce the risk of bacterial growth, maintain quality, and prolonged shelf life and optimize the storage and transport cost. This results in fruit concentrate being less expensive than actual fruit juices. This economic benefit with almost the same nutritional value is likely to increase the demand.
Key players in the Cherry Concentrate Market are Lemonconcentrate, Milne Fruit Products, H&H Products Company, Ve.Ba. Cooperativa Ortofrutticola, DÖHLER, Cascadian Farm Organic, Kerr Concentrates, Louis Dreyfus Company, Secna S.A, and Ingredion Incorporated.
The companies manufacturing cherry concentrates are promoting the health benefits of cherry concentrates through online marketing and funding studies to prove the health benefits of cherry concentrates.
Some of the recent developments in the market are:
By Type:
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The global market size is estimated to be valued at US$ 1 Billion by 2023.
The market is expected to reach a US$ 1.6 billion valuation in 2033.
The market registered a CAGR of 5.4% over the last 4 years.
The market is projected to witness a CAGR of 4.5% from 2023 to 2033.
The aseptic cherry concentrate type is projected to witness large demand till 2033 with expected growth at CAGR of 4.4% by 2033.
Application of cherry concentrate in juices is projected to witness the highest demand till 2033 and is expected to grow at a CAGR of 4.3%.
The United States is projected to witness a market size of US$ 506.1 Million and is expected to grow at a 3.4% CAGR from 2023 to 2033.
Key players in the Cherry Concentrate Market are Lemonconcentrate, Milne Fruit Products, H&H Products Company, Ve.Ba. Cooperativa Ortofrutticola, DÖHLER, Cascadian Farm Organic, Kerr Concentrates, Louis Dreyfus Company, Secna S.A and Ingredion Incorporated.
