Global Fruit Juice Market to Reach a Volume of 48.2 Billion Litres By 2021
Fruit juice is a drink prepared or extracted by squeezing or crushing the fruits. Fruit juices are naturally sweet and are usually consumed as beverages or used as an ingredient or flavouring agents in other foods and drinks. These fruit drinks are available in various forms depending upon their juice content. They include 100% fruit juice (which contains no added sugar, preservatives, colour, etc.), nectar (25-99% juice content), juice drinks (up to 25% juice content), concentrates and powdered juice.
Fruit juices are refreshing in nature and are packed with instant energy. They provide many nutritional benefits as they are a good source of carbohydrates, minerals, vitamins, antioxidants and phytochemicals. Consequently, they form an essential part of a healthy diet and are perfect for today’s eat-on-the-run lifestyle. According to IMARC Group, the global fruit juice market reached 42.6 Billion Litres in 2015. The market is further anticipated to grow at a CAGR of 2% during 2016-2021, reaching a volume of 48.2 Billion Litres by 2021.
Trends of healthy diet and convenience foods drive the market
Growing health consciousness have shifted consumers’ focus towards healthier products. As a result, they are now preferring natural beverages which are free from added sugar, flavours and preservatives as opposed to carbonated drinks. Increasing disposable incomes, growing popularity of convenience and ready-to-eat foods and growth in emerging markets are also facilitating the global demand for fruit juices.
Another recent significant trend has been towards an increasing focus on high quality and premium fruit juices. Consumers are willing to spend on premium juices which has driven many producers towards investing in the development of functional and value-added juices.
Orange flavour dominated the fruit juice market
Orange currently represents the most preferred flavour accounting for 35% of the total global fruit juice market. The popularity of orange juice can be attributed to its high nutritional value. It contains high concentrations of vitamin C along with decent amounts of folate, potassium and other minerals. It also offers wide ranging health benefits as it helps to boost immune system and metabolism, reduce signs of aging, detoxify the body, reduce inflammation, lower cholesterol levels, etc. Orange juice is followed by apple, mix fruit and grape.
North America leads the market share
North America currently represents the largest market for fruit juice accounting for one-fourth of the total market share. North America is followed by Western Europe, Asia-Pacific, Eastern Europe, Latin America, Africa and the Middle East.
Looking forward, the future growth rates in North America and Western Europe are expected to decline as the demand in these markets has more or less matured. On the contrary, the emerging markets of Asia-Pacific, Latin America, Africa and the Middle East are expected to witness continuous growth during the forecast period.
The global market for fruit juice is highly fragmented and competitive, featuring a number of small and big players operating in the market. However, the market is largely dominated by some of the key global players who are extending their presence worldwide, particularly in the developing markets.
Coca cola and PepsiCo currently represent the largest players in this market. Some of the other key players include Tingyi, Huiyuan, Wild, Jugos and Eckles. These leading players have a competitive edge over small players in terms of quality and pricing.
About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the fruit juice industry, which has enabled the clients to successfully setup and expand their businesses. Some of the company’s offerings include:
- Market Research
- Plant setup
- Plant Expansion
- Marketing and sales
- Procurement and Distribution
- Innovation and Product Development
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Original Content Source: Fruit Juice Market Induced By Rising Health and Wellness Trends