Published on : Feb 24, 2016
The global juice market is predicted to experience an exponential growth in the coming years. The juices market includes vegetable and fruit juices and holds a key share within the global beverage industry. However, this market is witnessing a two-track development story. The rising demand from Asia for functional and flavorful juice drinks has resulted in decline in volumes of juices in a number of emerged markets. In addition, the increasing demand for substitutes is also a prime factor impeding the growth of the juices market.
The prime trends seen in the market and their impact on the growth of the market have been highlighted as under:
- The Decline in Juice Market within China: The Chinese juice drinks market was on the rise on the basis of volume till 2013 and emerged as the most preferred refreshment beverages. However, in 2014, the growth in volume was stagnated owing to the weakened Chinese economy as well as domestic brands experiencing scrutiny over safety of food and a number of controversies related to packaged foods impacted the top brands, hence restraining the growth of the market for juices within China.
- Juices Require to Invent for Competing in the Beverages Industry: A number of consumers are reluctant on consuming packaged juices owing to their increasing sugar content as well as the limited areas of demand. This is owing to the fact that individuals have become more health conscious and believe in the fact that excess sugar may pose harm to their health. Manufacturers need to make new innovative nectars and drinks with additional flavors and less sugar in order to expand the consumer base.
- The Segment of ‘100% Juice’ is on the Rise: The segment of ‘100% juice’ is on the rise as juices derived via high-pressure processing techniques as well as raw juices are gaining popularity within the already emerged markets. In addition, cold press juices have also established their nutritional content and quality over economically pasteurized ‘100% juices’ despite of their high prices.
Thus, the segment of ‘100% juice’ will propel in the coming years and manufacturers must take steps to invent new varieties that have no or less added sugar in order for the market to grow. The prime players operating in the global juice market are Nestle, Coca-Cola Co., PepsiCo., Dr. Pepper Snapple Group Inc., Del Monte, Citrus World, and Welch’s, among other