Over the years, juices have attracted sufficient amount of attention as a healthy drink and given a stiff competition to soft drinks. Rising health consciousness and fitness concerns among consumers has thus lead to an exponential growth in this market. Research on consumer preferences, suggests that the global fruit juice and vegetable juice market is expected to reach 72.29 billion liters by 2017.
This report: Global Fruit and Vegetable Juice Market to 2018 - Market Size, Top 10 Countries, Trends, and Forecasts provides a detailed analysis of the current market situation, trends, and outlook of the fruit and vegetable juice markets in the world till 2018. The report analyzes the current market conditions and highlights the scope of the market.
Fruit juices are now being termed as “New Age Beverages” which intensely compete with alternative beverages such as bottled water, ready to drink beverages, sports and energy drinks and various other herbal variations. Despite being affected by global recession, the market is expected to pick up pace over the forecast period between 2014 and 2018, powered by gains made from natural juices, fortified juices and juices made with healthier ingredients. Per capita consumption of juices witnessed strong growth rates in developed and emerging markets at the same rate despite unstable economic conditions worldwide. Fruit juice industry analysis indicates that the fruit juice market value is about twice as much as the tea segment and recent studies indicate the sales of fruit juices are also taking over cola segment sales.
At present, orange juice accounts for the dominant share (29.1%) of the overall demand for fruit and vegetable juices. The remaining market share is divided among apple juice (27.1%), grape juice (8.5%), pineapple juice (3.6%), grapefruit juice (2.1%), other citrus juice (4.5%), tomato juice (0.5%), mixtures of juices (9.3%), and other single fruit or vegetable juice (15.2%). Growth in the industry is mainly driven by strong imports and exports. The phenomenal growth rate in the segment is attracting a lot of new entrants and investments in this sector.
Juices, more importantly fruit juices, have gained importance as the most competitive segment in the beverages industry, with more number of people across the globe incorporating fruit juices in their meals, given the rising awareness of maintaining healthy and nutritious eating habits. A study on the industry notes that the demand for the 100% fruit juice segment is also set for higher growth as aging baby boomers are looking for more and more ways to improve and sustain health.
Europe represents the single largest market in this segment, according to new research, while Asia-Pacific is expected to emerge as the region holding significant growth potential at a CAGR of 6.3% for the forecast period. Growing economies, such as China and India, present profitable opportunities in terms of prospective consumers. Producers are aggressively promoting and expanding their operations into these countries, localizing their products to suit the different tastes and preferences of different regions.
The global fruit and vegetable juices market is highly competitive and fragmented in nature, with a host of medium and large sized players. Current market trends indicate that the private label juices are capturing the market in both shelf-stable and refrigerated juice subcategories. This is primarily due to the novel approaches to packaging trends, quality and flavor adopted by private label companies. In the shelf stable category, private labels continue to witness growth across various bottled juice categories. Key market participants profiled in the report include Del Monte Foods Company, Dr. Pepper Snapple Group Inc., Minute Maid Company, Odwalla Inc., Nestle SA, Ocean Spray Cranberries, Tropicana Products Inc., Welch Foods Inc.,etc.
Going forward, it is expected that the trend of healthy eating alongside the growing acceptance of fruit juices as part of meals would continue to drive growth in the fruit and vegetable juices market. While health concerns are expected to spike the demand for superfruit juices, safety and environmental concerns would foster innovation and new product development in the areas related to organic and 100% natural juice segment.
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