(MENAFN- PR Newswire)
NEW YORK, June 26, 2024 /PRNewswire/ -- The global
juices market
size is estimated to grow by USD 109.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 8.4%
during the forecast period. Benefits of cold-pressed juice over traditional juice is driving market growth, with a trend towards increasing prominence of private-label brands. However, fluctuating prices of raw materials
poses a challenge. Key market players include Archer Daniels Midland Co., BevNET Inc., Binghatti Holding Ltd., Bostan Juice, Campbell Soup Co., Citrus World Inc., Dabur India Ltd., Eckes Granini Group GmbH, Keurig Dr Pepper Inc., Motts LLP, National Beverage Corp., National Council of Farmer Cooperatives, Nestle SA, NutriAsia Inc., Ocean Spray Cranberries Inc., PepsiCo Inc., Suntory Holdings Ltd., The Coca Cola Co., Vilore Foods Co. Inc., and WILD Flavors and Specialty Ingredients USA Inc..
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Technavio has announced its latest market research report titled Global juices market 2024-2028
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| Forecast period |
2024-2028 |
| Base Year |
2023 |
| Historic Data |
2018 - 2022 |
| Segment Covered |
Product (Fruit juices, Vegetable juices, and Others), Distribution Channel (Offline and Online), and Geography (Europe, North America, APAC, South America, and Middle East and Africa) |
| Region Covered |
Europe, North America, APAC, South America, and Middle East and Africa |
| Key companies profiled |
Archer Daniels Midland Co., BevNET Inc., Binghatti Holding Ltd., Bostan Juice, Campbell Soup Co., Citrus World Inc., Dabur India Ltd., Eckes Granini Group GmbH, Keurig Dr Pepper Inc., Motts LLP, National Beverage Corp., National Council of Farmer Cooperatives, Nestle SA, NutriAsia Inc., Ocean Spray Cranberries Inc., PepsiCo Inc., Suntory Holdings Ltd., The Coca Cola Co., Vilore Foods Co. Inc., and WILD Flavors and Specialty Ingredients USA Inc. |
Key Market Trends Fueling Growth
Retailers worldwide are expanding their private-label juice offerings, selling various fruit and vegetable juices under their brands to boost profitability. Major retailers, including Archer Daniels Midland Co. And Alibaba, are introducing organic and functional juices, capitalizing on consumer demand. Private-label juices are priced lower than branded ones, making them popular among price-sensitive consumers. Supermarkets are increasing shelf space and marketing efforts for these products, leading to growth in the global juices market. The demand for private-label juices is anticipated to continue rising during the forecast period.
The consumer market for juices is experiencing significant growth, with a variety of flavors and types gaining popularity. Fruit juices, such as apple, orange, and grape, continue to dominate the scene. However, vegetable juices and functional juices, like ginger and turmeric, are also trending. Consumers are increasingly seeking out organic and natural options, as well as convenient and sustainable packaging. The market is also witnessing an influx of functional juices, which offer added health benefits. Additionally, the rise of e-commerce platforms has made it easier for consumers to access a wide range of juices from different brands and regions. Overall, the juices market is a dynamic and evolving space, driven by consumer preferences and trends.
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Market
Challenges
The juices market faces challenges with rising production costs due to increasing prices of raw materials like fruits, vegetables, sugar, and packaging materials. Adverse weather conditions, national emergencies, natural disasters, and supply shortages impact the availability and price volatility of these materials. Manufacturers struggle to introduce new product varieties due to these factors, which in turn affects consumer purchase decisions and market performance. The unpredictable prices of fruits and sugar, in particular, can negatively impact the growth of the global juices market.
The juices market faces several challenges in the commerce sector. Consumers seek natural and organic options, such as fruit and vegetable juices, but
sourcing and supplying these can be difficult. Traders deal with issues like long supply chains, inconsistent quality, and high costs. Additionally, the presence of large players in the market creates intense competition. To address these challenges, innovative strategies like local sourcing, partnerships with farmers, and technology integration can be employed. Producers can also focus on creating unique flavors and packaging to differentiate their offerings. Overall, the juices market requires a strategic approach to overcome these challenges and thrive in the commerce environment.
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Segment Overview
This juices market report extensively covers market segmentation by
Product
1.1 Fruit juices
1.2 Vegetable juices
1.3 Others
Distribution Channel
Geography
3.1 Europe
3.2 North America
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1 Fruit juices-
The juices market experiences consistent growth due to increasing health consciousness among consumers. Fruit and vegetable juices are popular choices, with orange, apple, and carrot juices leading the way. Supermarkets and specialized juice stores dominate the sales landscape. Competition is fierce, with companies focusing on product quality, innovation, and customer satisfaction to stand out. Pricing strategies and distribution channels also play crucial roles in market success.
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Research Analysis
The Juices Market encompasses a wide range of natural liquid offerings, derived from various biological food sources such as fruits, vegetables, and herbs. Consumers increasingly prioritize health consciousness, leading to a growing demand for juices rich in essential nutrients, vitamin C, and natural sugars. These include extracts from grapes, pineapples, and other fruits, as well as vegetable juices and organic juices. The extraction process may involve pressing or pulping to preserve the fiber and liquid essence. Carbonated drinks and sugary beverages, on the other hand, are less favored due to their adverse health effects. Minerals and natural sugars contribute to the overall taste and nutritional value of these juices. Blends and flavors add variety and appeal to this market.
Market Research Overview
The global beverages market, with a significant focus on juices, is experiencing robust growth due to increasing health consciousness and consumer preference for natural and organic products. Fruits and vegetables are the primary sources for juice production, with consumers showing a strong inclination towards superfoods and functional beverages. Consumption patterns vary across regions, with Asia-Pacific and Europe leading the market share. Sustainability and eco-friendly packaging are key trends shaping the industry. Seasonality, supply chain challenges, and price fluctuations are some of the factors influencing the market dynamics. The market is expected to continue its upward trajectory, driven by innovation, consumer demand, and strategic collaborations.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Product
Fruit Juices
Vegetable Juices
Others
Distribution Channel
Geography
Europe
North America
APAC
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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SOURCE Technavio
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