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GLOBAL FRUIT AND VEGETABLE JUICE MARKET - GROWTH, TRENDS AND FORECAST(2019-2024)

GLOBAL FRUIT AND VEGETABLE JUICE MARKET - GROWTH, TRENDS AND FORECAST(2019-2024)

  • April 2019
  • 134 pages
  • ID: 5778195
  • Format: PDF
  • By Mordor Intelligence LLP

Summary

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Market Overview
The Global Fruit and Vegetable Juice Market is projected to reach USD 173 billion by 2024, growing at an estimated CAGR of 3.17% during the forecast period. Growth in fruit and vegetable juice market is driven by increasing demand for healthy food from an increasingly health-conscious consumer base. The growing popularity of cold-pressed juices is one of the key segments influencing the growth of the juice market across the world. Cold-pressed juices preserve the vitamins, minerals and enzymes that are lost during the heating and oxidizing phases of the traditional processes for making juices. Very few consumers are aware of the benefits of fruit and vegetable mixed juices, especially in developing countries. This forced vendors of mixed juices in such markets to come up with marketing and advertising activities to increase consumer awareness about the benefits of mixed juice products.

Scope of the Report
The Global Fruit and Vegetable Juice Market is segmented by Product Type into Fruit Juice, Vegetable Juice and Nectar and by Distribution Channel into Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores and Other Distribution Channels. The Other Distribution Channels segment includes departmental stores, variety stores, online channels and warehouse clubs.

Key Market Trends
Increasing Demand for Fortified Juices

Fruit juices fortified with functional ingredients offer new product opportunities to companies that can develop and market functional fruit juice products by understanding consumer preferences so as to meet consumer expectations. Omega-3, fiber, bioactive compounds, vitamins and probiotic bacteria are some of the functional ingredients that offer immense product opportunities for the juice industry. Vitamins are added to fruit juices to increase the nutritional profile of fruit juice products. Vitamin D, vitamin E, vitamin A and vitamin C are some of the popular vitamin types added to fruit juices. Various government initiatives are being undertaken across the globe to increase the consumption of fortified food and beverages, especially in developing countries like China and India.

Middle East And Africa is the Fastest Growing Region of the Global Market for Fruit And Vegetable Juices

The current average per capita consumption of fruit and vegetable juices in the Middle East and Africa region is comparatively lower than that of the developed regions but is increasing at a quick pace. Education levels play an important role in determining the health status of consumers in this region. A shift towards healthier fruit and vegetable juices instead of carbonated energy drinks is surfacing in the region. One of the potential reasons for the growth of this market in South Africa is the government’s awareness campaign that is focused on orienting consumers toward healthier food consumption habits. The fruit and vegetable juice market in Saudi Arabia has benefited from excise taxes imposed on carbonated and energy drinks in 2017. People above the age of 45 prefer juices with no added sugar, 100% juice content, and with vitamins and minerals. Parents prefer such products for children.

Competitive Landscape
The global fruit and vegetable juice market is highly fragmented with numerous small and medium regional players holding the majority share. Major players in the market are trying to gain competitive advantage over the regional players through product innovations involving seasonal/local fruits. The key players in the market studied include PepsiCo Inc., The Coca-Cola Company, CSC Brand LP, Eckes-Granini Group and The Kraft Heinz Company

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