Fruit Juice Market Induced by Rising Health and Wellness Trends
Growing health consciousness, increasing disposable income, value addition, product innovation and growth in emerging markets are currently driving the global fruit juice market.
Fruit juices are prepared by extracting the pulp of fruits or by using artificial flavours. They contain all the goodness of the whole fruit in a condensed form. Not only are fruit juices perfect for today’s eat-on-the-run lifestyle but are also a good source of carbohydrates, vitamins, minerals, antioxidants and phytochemicals (protective compounds) which are essential for growth of the human body. Some of the fruit juices help to fight cancer and heart diseases while others serve as the best non- prescription drugs.
Fruit juices are commonly consumed as a beverage or used as an ingredient or flavouring in foods. They are available in various forms depending upon their juice content- nectar (25-99% juice content), juice drinks (25% juice content), concentrates and powdered Juice. Owing to the refreshing nature, convenience, nutritional benefits and good source of instant energy, the fruit juice market currently represents a multibillion dollar industry. According to research analysts at IMARC Group, the global fruit juice market was worth 42.6 Billion Litres in 2015. It is further anticipated to grow at a CAGR of 2% during 2016-2021, reaching a volume of 48.2 Billion Litres by 2021.
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Consumers shifting towards healthier drinks
Due to growing health and dietary concerns, consumers are now preferring healthier products. As a result, fruit juices are preferred over carbonated and soft drinks available in the market. Changing lifestyles coupled with increasing awareness about the health benefits, fruit juices have become a part of the everyday diet.
In recent years, a key trend has been an increasing focus on high quality and premium fruit juice. As a result, consumers are willing to spend on premium juices, be it for health reasons or indulgence. Consequently, this has prompted producers to invest in the development of functional and value-added juices.
Orange represented the most popular flavour
With high concentrations of vitamin C and its high nutritional value, orange juice is widely considered as one of the healthiest beverages because of its innumerable health and skin benefits. It helps to boost immune system, reduce signs of aging, fight against cancer, boost metabolism, detoxify the body, improve circulation, improve blood pressure, reduce inflammation and lower cholesterol levels.
The global fruit juice market can be segmented on the basis of flavour. Orange juice exhibited a clear dominance in the market accounting for 35% of the total global market. Orange juice was followed by apple, mix fruit and grape juice.
North America represented the largest market
On a geographical front, the market has a presence in many countries across the globe. North America represented the world’s largest market for fruit juice and accounted for nearly 25% of the total global market share. North America was followed by Western Europe, Asia-Pacific, Eastern Europe, Latin America, Africa and the Middle East. However, as the demand has more or less matured in the developed markets, future growth rates in these markets are expected to decline in the coming years. On the other hand, the emerging markets like Asia-Pacific, Latin America, Africa and the Middle East are expected to flourish swiftly in the near future.
Coca cola and PepsiCo dominate the global market
The highly fragmented and competitive global market for fruit juice features a number of small and big players operating in the market. The market is largely dominated by the key global players who are extending their presence worldwide, particularly in the developing regions like Asia-Pacific, Africa and Latin America. These leading players have a competitive edge over small players in terms of quality and pricing.
Coca cola and PepsiCo represented the biggest players in the market. Other key players include Tingyi, Huiyuan, Wild, Jugos and Eckles. Looking forward, the competitive environment in this market is expected to intensify in the coming years with a rise in product extensions and technological innovations.
For more information on the fruit juice industry, please visit: http://www.imarcgroup.com/fruit-juice-manufacturing-plant
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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:
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