Juice Market – Global Industry Analysis, Trends and Forecast 2021
Global Juice Market: Snapshot
The juice market is growing at a healthy clip across various developing and developed countries. The mounting focus of consumers toward a healthier consumption of fruits and vegetables and recent changes in their dietary habits are the key factors driving the evolution of the juice market. A burgeoning convenience foods segment in emerging regions and increasing awareness about the nutritional benefits of juices have provided a robust fillip to the consumption of packaged fruits juices. The growth of the juice market is governed by a variety of region-specific factors, such as geographical distribution of fruits and vegetables. For instance, the consumer preference toward the consumption of fresh fruits may hamper the demand for fruit juices in some regions.
Emerging players and new entrants in the food and beverages sector seeking to capture a significant share of the juice market are focusing on varied tastes, flavors, and preferences specific to a region. This is a key factor affecting their decisions on where to source fruits from and also shapes their brand positioning strategies. Prominent manufacturers of processes fruits and vegetables are focusing on offering blended vegetables and fruit juices with natural flavors. In recent years, several emerging players have been focusing on their strategy of targeting mass as well as premium consumer segments in order to present a stiff competition to leading companies in the food and beverages sector. The advent of products claiming to be diet juices and no-sweetener juices are promising developments in the market.
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Global Juice Market: Overview
Changes in lifestyles and awareness regarding the consumption of a healthy and balanced diet have steered the growth of the global juice market. As a result of the growing consumption of vegetable and fruit juice, the global market for juice is likely to witness strong growth over the forthcoming years. However, the growth of the global juice market is entirely dependent on the geographical distribution and availability of vegetables and fruits. In the beverage industry, juices constitute the most competitive segment.
The research report provides a thorough description of the dynamics that are likely to restrain or drive the growth of the global juice market over the next couple of years. It further offers a detailed analysis of the key segments of the market along with information on the penetration of juice products in regional markets and the share of various regions in the global juice market. The study evaluates the key elements at play in the market and the prevalent trends. In order to present a clear picture of the market, the report presents an in-depth analysis of the leading companies along with their share in the market and key strategies, and product description. It also assesses the competitive landscape of the global juice market through the Porter’s five forces analysis. The study also provides information on the degree of entry and exit barriers and growth opportunities arising for juice manufacturers in the upcoming years.
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Global Juice Market: Trends and Opportunities
The global juice market is likely to be driven by the mounting consumer inclination towards juice. The demand for healthy food products from diet and fitness conscious consumers is one of the leading drivers of the global juice market. To meet the requirements of consumers, manufacturers of juice products are focusing on introducing different varieties and flavors of juices along with innovative packaging, and product development. As dietary and health concerns are rising among consumers, the demand for vegetables and fruit juices is also rising.
Manufacturers of juice are striving to capitalize on the opportunities arising from the advent of new products such as blended vegetable and fruit juice. At present, the demand for orange juice is significantly high owing to its easy availability and health benefits of the fruit. However, single and mixed juice of vegetables and fruits such as grapefruit, tomato, pineapple, grape, and apple are likely to gain popularity over the next couple of years. Juices that contain antioxidants made from fruits such as acai berries are also expected to gain prominence by 2021. The advent of diet juice and no-sweetener juice is anticipated to provide manufacturers with lucrative growth opportunities. However, the prime factor that is likely to inhibit the growth of the global market is the availability of substitutes such as carbonated soft drinks.
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Global Juice Market: Regional Outlook
Regionally, the global juice market is segmented into Latin America, the Middle East and Africa, Europe, Asia Pacific, and North America. Manufacturers of juice are likely to gain lucrative growth opportunities from the growing consumption of orange juice in developed countries. The leading markets for juice in these regions are the U.S., Japan, and Europe.
Companies Mentioned in the Report
To maintain a strong hold in the market, leading companies are increasing investments in research and development activities and are focusing on enhancing their brand image. The leading players in the global juice market are Welch’s, Del Monte, Nestle, PepsiCo., Dr. Pepper Snapple Group Inc., Coca-Cola Co., and Citrus World among others.
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