Juice Product Market Size, Share, Growth, and Industry Analysis, By Type (Fruit Juice and Vegetable Juice), By Application (Supermarkets and Hypermarkets, Convenience Stores, Online Retailers, and Others), Regional Insights, and Forecast To 2032

Updated On: 29 April 2024

juice product market REPORT OVERVIEW

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The global juice product market size was 148890 million in 2022 and is expected to reach USD 177580 million by 2028, exhibiting a CAGR of 3.0% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with juice product experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Juice products encompass a diverse array of beverages derived from fruits and vegetables. These beverages can range from pure fruit juices like orange and apple juice to blended concoctions, vegetable juices, and functional variations fortified with nutrients. Smoothies, cold-pressed juices, and powdered forms also contribute to this category. Juice products cater to various consumer preferences, whether for refreshment, nutrition, or culinary purposes, and their popularity is driven by factors like taste, convenience, and health consciousness. However, consumers should be mindful of added sugars and processing methods, as the nutritional content can vary significantly among different juice products.

Consumption of juice products extends across age groups, with children's juices, cocktail mixers, and organic/natural options addressing distinct preferences. Juice boxes and pouches offer convenience for on-the-go consumption. The market continues to evolve with the introduction of functional and health-focused juices, appealing to consumers seeking specific benefits. As the demand for healthy and convenient beverages persists, the juice product industry adapts by offering a wide range of choices that cater to diverse tastes and dietary needs.

COVID-19 IMPACT: Increased Demand for Immune-Boosting Products to Boost Demand Significantly

COVID-19 had a life changing impact globally. The juice product market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for juice product share experienced an increased demand.

The juice industry faced challenges related to supply chain disruptions, including disruptions in the availability of fresh fruits due to labor shortages, transportation delays, and fluctuations in demand. With lockdowns and restrictions on dining out, many people increased their consumption of at-home meals and beverages. As a result, sales of packaged juice products for home consumption saw a boost. On the flip side, the closure of restaurants, hotels, and other foodservice establishments significantly impacted the juice product industry. Sales to the foodservice sector sharply declined during lockdowns.

Consumers' increased focus on health and wellness led to greater interest in natural and organic juice products. Brands that emphasized their health benefits and clean-label ingredients saw increased demand. During the early stages of the pandemic, there was a surge in demand for products perceived as immune-boosting, including orange juice and other vitamin C-rich juices. Consumers sought these beverages for their potential health benefits. The market is anticipated to boost the juice product market growth following the pandemic.

LATEST TRENDS

"Low-Sugar and Reduced-Calorie Options to Broaden Market Growth"

To meet the demand for healthier alternatives, juice producers have been exploring low-sugar and reduced-calorie options. They may have continued to develop and launch products with reduced sugar content and fewer calories. The industry has been innovating with unique flavor combinations and blends, including exotic fruits, herbs, and spices, to cater to diverse consumer preferences and offer a wider range of options.

The trend towards health-conscious consumption has likely continued. Juice products with added functional ingredients, like antioxidants, probiotics, and adaptogens, may have gained further popularity as consumers seek beverages that offer both refreshment and health benefits. Consumers increasingly demand transparency in product labeling. Juice companies have been responding by providing clear and concise information about ingredients, sourcing, and production methods. These latest developments are anticipated to boost the juice product market share.

juice product market SEGMENTATION

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• By Type

Based on type, the market is divided into Fruit Juice and Vegetable Juice.

Fruit Juice holds a major share of the global market.

• By Application

Based on application, the market is bifurcated into Supermarkets and Hypermarkets, Convenience Stores, Online Retailers, and Others.

Supermarkets and Hypermarkets as application holds a major share of the global market.

DRIVING FACTORS

"Health and Wellness Trends to Boost Market Share"

Consumer awareness of health and wellness has been a significant driver. Many people view juice products as a convenient way to increase their daily intake of essential vitamins, minerals, and antioxidants. The perception of juice as a source of nutrition and health benefits, including immune support, has boosted its demand. Consumers are increasingly seeking products made with natural and clean-label ingredients. Juice products, especially those with minimal additives, preservatives, and artificial flavors, align with this preference. These factors are anticipated to drive the growth of juice product market.

"Functional and Fortified Options to Boost Market Growth"

Consumers are interested in juice products with added functionalities, such as probiotics, antioxidants, and vitamins. These functional ingredients offer specific health benefits and contribute to the appeal of juice products. Juice products come in a wide range of flavors and blends, appealing to diverse tastes. Manufacturers continue to introduce innovative flavor combinations, including exotic fruits and herbal infusions, to attract consumers. These factors are anticipated to drive the juice product market.

RESTRAINING FACTOR

"Sugar Content and Health Concerns to Hamper Market Share"

One of the significant restraining factors is the growing awareness of the high sugar content in many juice products. Concerns about excess sugar consumption and its association with health issues like obesity and diabetes have led to reduced consumption of sugary juices. Juice products face strong competition from a wide range of other beverages, including water, flavored water, sports drinks, and plant-based milk alternatives. Consumers are increasingly choosing alternatives perceived as healthier. The factors are anticipated to hinder the growth of the juice product market.

juice product market REGIONAL INSIGHTS

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"North America to Dominate the Market due to High Consumer Demand"

North America is the major shareholder for the juice product market size. North America, has a large and diverse consumer market with a strong demand for a wide range of beverages, including juice products. North American consumers have shown interest in innovative juice products, such as functional juices, organic options, and premium blends. The presence of a health-conscious consumer base drives innovation in this region.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• CHC Gourmet Sdn Bhd [Malaysia]
• Jeram Coconut Sdn. Bhd [Malaysia]
• Thomyam Food Industries Sdn. Bhd [Malaysia]
• Strong Group [Taiwan]
• Want-want Holdings [Taiwan]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.