Juice Market Size, Share, Growth, and Industry Analysis, By Type (Fruit Juice, Vegetable Juice, & Others), By Application (Household, Commercial, & Others) and Regional Forecast to 2032

Updated On: 04 November 2024

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JUICE MARKET REPORT OVERVIEW

The Juice Market Size was Valued at US$ 144060 Million in 2023. The Market is likely to Surpass US$ 194046.46 Million by 2032 at a CAGR of 4.1% During the Forecast period [2024-2032].

The juice market holds tremendous potential to grow in the coming years, considering various factors. Recently, during the past years, consumers have increased their focus on healthy living, mounting pressure on demand for natural and healthy drinks. With rising levels of health awareness and an attempt to find alternatives to soft drinks, which are having heavy sugar content, demand for fresh and organic juice products surges. The increasing trend for ready-to-go and ready-to-drink beverages drives another potent driver for growth. Juice is a faster and healthier drink for people on-the-go.

Growing production and trends in packaging innovation drive the juice market further. That is because continuous investments by manufacturers in research and development allow them to introduce new flavours and blends that would fit different tastes of consumers. Improvements in pasteurization methods and aseptic packaging could further prolong shelf life and preserve more nutrients. Moreover, with increasing awareness among consumers, companies are now resorting to eco-friendly and sustainable ways of production, like recyclable packaging material and low carbon footprints in the production process. Coupled with this shifting consumer preference and advancements in technology act as a stimulus to the global market.

COVID-19 Impact: Supply Chain Disruptions Due to Pandemic Will Constrain Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The generalistic disorder in the supply and production lines and the retail businesses due to the pandemic reduced consumer spending and actually their demand for these non-essential goods like juices. Lockdowns and social distancing further reduced opportunities to shop. This impacted sales and distribution channels in this way. Hence, the demand for the juice market declined along with the revenues that were collected from it during a pandemic. The market might see a surge again once things get better, but its immediate impact was quite negative for the global market.

LATEST TREND

"Functional and Fortified Juices to Drive Market Growth"

One of the latest trends on the world juice market is combining functional and fortified ingredients that enable positioning products as truly modern health solutions. Driven by the health and wellness trend, manufactures infuse increasingly more amounts of vitamins, minerals, and probiotics into juice products. Functional and fortified juices can have additional health benefits in terms of linking to immunity, digestion, and energy. Some juices come with certifications or endorsements that equip customers with trust in product quality and efficacy. The inclusion of functional ingredients in juices showcases the industry's drive toward an imperative to reconcile consumers' demand for novel and scientifically-based health products, as has been desirable in the global market.

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JUICE MARKET SEGMENTATION

By Type

On the basis of type, the global Juice market is segmented into:

• Fruit Juice: It contains juices made out of oranges, apples, berries and tropical fruits. Fruit juices are most sought after because of their refreshing taste and nutritious status.

• Vegetable Juice: Combinations of vegetable juices extracted from carrots, tomatoes, beets, and greens. Preferred for their medicinal status and also as a health medium to take in required vitamins and minerals

• Others: Combined fruit and vegetable juices, smoothies, and special blended juices. Catering to niche markets or individual health/flavour seeking consumers

By Application

On the basis of the application, the market of juices in consideration can be segregated into

• Household: There is high demand in the form of healthy beverages by every family and individuals. - It is consumed by them on an everyday basis as a form of balanced dietary supplies.

• Commercial: Growing application in terms of restaurants, cafes, hotels, and catering services. Ready-to-use products and demand juices aid the smooth running of operations.

• Others: Applicable in Healthcare, Sports, and Fitness Institutes and Wellness Programs; Used for Functional Health Benefits and Nutritional Values.

DRIVING FACTORS

"Increasing Health Awareness and Demand for Natural Beverages to Boost the Market"

The market is foreseen to gain from the increasing health awareness and surging demand for natural beverages across the world.

The rise in health awareness among consumers and the demand for natural beverages act as the prime drivers for the global juice market. Juice demands are on the rise because people are continually moving to healthier and natural alternatives to sugar-laden soft drinks. Juices contain some vital vitamins and antioxidants and are hence very appealing to health-conscious.

"Growing Trend of Convenient and Ready-to-Drink Beverages to Expand the Market"

There is an ever-increasing demand for convenient and ready-to-drink beverages. Global juice intake is boosted by another trend: juices that are convenient and ready to drink. Compared to other beverages, juices are most favoured among all those with busy lifestyles who need fast, healthy drinks. At home or in commercial places, quality convenience drinks raise market demand as customers get thirsty for innovative beverage experiences.

RESTRAINING FACTORS

"High Sugar Content and Possibly Limited Shelf Life"

Other than that, high sugar content and a short shelf life are the major restraints in the global juice market growth. The essential high contents of some juices, though wholesome by themselves, have been reported to be natural sugars that turn away health-conscious consumers or those following special dietary regimes. Also, freshly squeezed juices are perishable and require special treatment and storage, thus affecting distribution and inventory management. Any firm targeting long-term solutions may prefer beverages whose properties are more stable; this would limit growth in this market to some extent. However, juice formulation and preservation techniques are continuously developed to be healthier and more sustainable in the market.

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JUICE MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific Region Dominates Due to Large Consumer Base"

Based on a few facts, Asia Pacific has been quite dominating in the juice market share globally. On the basis of these facts, the region is leading the global juice market, driven by a big population and the awareness of health among consumers. With consumers now reaching for healthy and natural beverages, substantial demand is created for good quality juice products. Moreover, it has been possible to produce juice flavours that were taken up very well by consumers across the region, through varied fruit and vegetable types. More importantly, the rise in disposable income and e-commerce industry increased the reach of juice products across the Asia Pacific market hence paving ways for the region's stronghold in the global market share.

KEY INDUSTRY PLAYERS

"Some Key Industry Players Driving the Market through Innovation and Market Expansion"

The juice market is driven by a couple of dominant players who influence market dynamics and ultimately consumer preference structure. These key participants have huge distribution networks and online platforms that make it easier for consumers to access a wide variety of juices. This has enabled strong brand recall and visibility across the globe, which in turn builds up trust and loyalty with consumers. The corresponding level of product adoption has increased. Besides, such big companies never stop spending on research and development. New innovative flavours, formulations, developments in packaging solutions of juice products make their way into the market from time to time in order to meet the changing needs and preferences of the consumers. These large players, together operating in the industry, exert a very considerable influence on the competitive scenario and future prospective outlook of the market.

LIST OF MARKET PLAYERS PROFILED

• PepsiCo Inc. (U.S)
• The Coca-Cola Company (U.S)
• Nestlé S.A. (Switzerland)
• Del Monte Foods, Inc. (U.S)
• Tropicana Products, Inc. (U.S)
• Ocean Spray Cranberries, Inc. (U.S)
• Welch's (U.S)
• Campbell Soup Company (U.S)
• Dole Packaged Foods LLC (U.S)
• Hain Celestial Group, Inc. (U.S)

INDUSTRIAL DEVELOPMENT

October 2023: PepsiCo Debuts New Functional Juice Line PepsiCo introduced its new range of functional juices incorporated with vitamins, minerals, and probiotics, increasing nutrients and strengthening its position in the health-conscious beverage segment. Here's a new product with obvious health functionality: immunity enhancement and promoting good gut health. Those very much reflect a stated corporate commitment to meet customer demands for high-quality, healthful juice products.

REPORT COVERAGE

The research channels a careful SWOT analysis and casts some light on the futuristic developments in the market. It evaluates the various determinants that will contribute to the enhancement of the market by considering the numerous segments of the market and applications that have influenced it over the previous years. It considers past trends and recent turning points to understand the comprehensive components of the market and indicates the areas for improvement.

The research report deals with market segmentation based on an in-depth analysis that uses qualitative and quantitative research techniques. Further, it assesses changes in the impact of financial and strategic perspectives that identify the market. In addition, it provides national and regional assessments that efficiently consider the inhibiting and triggering forces which, as supply and demand forces, impinge on the growth of the market. The competitive landscape is discussed and marred properly in detail, including market shares of the key competitors. It applies new research methodologies and player strategies, specifically custom-made for the period mentioned above. As a result, it provides valuable insights into the dynamics of the market in a very formal way and easily understandable.