Global Juice Industry
The global juices industry reach a worth of almost $84 billion in 2010, after recording yearly growth in excess of 2% for the four preceding years, reports MarketLine. Overall, 100% fruit juice represented the leading market segment, with close to $26 billion in 2010, representing more than 30% of the overall market in terms of value. Market growth is expected to slow to a yearly rate of less than 2% between 2010 and 2015, when it should exceed $92 billion.
The fruit juice market competes with other soft beverage markets such as ready-to-drink, bottled water, herbal drinks, energy drinks and sports drinks. Juice consumption recorded strong sales in developed and developing markets in the face of the economic recession, reports Global Industry Analysts. Demand for juices, and fruit juices in particular, continues to rise mainly due to increasing consumer awareness of the health benefits of a balanced diet.
The global juice and smoothie bar market is forecast to reach almost $11 billion in 2015, reports Global Industry Analysts. Juice bar demand rises and falls in tandem with levels of disposable income. During the economic downturn of 2008-2009 consumer spending fell, having a negative impact on many markets, including the juice bar market. Economic recovery has caused the market to rebound. Moving forward, companies will continue to focus on product innovation and quality service to widen their consumer base. Fortified or enriched drinks are part of a range of innovative products launched in recent years. The trend toward organic products is currently proving popular with consumers as is green marketing, with environmentally aware consumers eager to opt for eco-friendly products.
The global fruit and vegetable juice market is forecast to reach a volume of almost 65 billion liters by 2015, according to research from Global Industry Analysts. Market growth will be fuelled by consumer awareness of the role played by nutrition in maintaining good health. Fruit and vegetable juices continue to fare well against other drinks on the market, including sports and energy drinks, and bottled water. Sales of fortified juices, juices boasting healthier ingredients and natural juices are all strong, boosting overall fruit and vegetable juice revenue. Following a dip recorded during the economic recession, this market segment is returning to volume levels and growth rates recorded before the crisis.
Orange juice represents the leading market segment, accounting for more than 35% of global fresh juice sales. The fruit and vegetable juice segment is characterized by intense competition and fragmentation. A large share of the market is held by private label manufacturers. Leading companies operating in the global fruit and vegetable juices market include Cadbury, Tropicana, Odwalla, Del Monte Foods, Minute Maid, Ocean Spray Cranberries, Nestle, Welch Foods and Mott’s.
Regional Market Share
The EU juice industry was worth more than $36 billion in 2010, having recorded yearly growth in excess of 2% for the four preceding years, reports MarketLine. 100% fruit juice (from concentrate) represents the leading market segment, reaching a worth of $15 billion in 2010, or accounting for more than 40% of the overall market. EU juice market growth is expected to slow to a yearly growth rate of just under 2% between 2010 and 2015, when it should hit close to $40 billion.