What are alternative methods to achieve the same functionality as shown in the provided PHP code, but in a more efficient and concise manner?

The provided PHP code uses a loop to iterate over an array and check if a specific value exists. This can be achieved more efficiently using built-in PHP functions like `in_array()` or `array_search()`.

// Using in_array() function to check if a value exists in an array
$value_to_check = "apple";
$array = ["banana", "orange", "apple", "grape"];

if (in_array($value_to_check, $array)) {
    echo "Value exists in the array";
} else {
    echo "Value does not exist in the array";
}