Growing population of aware consumers that can distinguish between fruit based beverages and fruit juices, propelling the growth of fruit juice market.
Rising health awareness among consumers and growing personal disposable income of people, driving the growth of global fruit juice market. Rising concerns for heart and weight related issues, especially among teenagers and young adults have impelled the consumption of packaged fruit juices.
Global fruit juice market is segmented into packaging types such as PET/plastic, metal can, tetrapaks, glass and other (Dispense etc.). PET or plastics bottles are the most preferred pack size by the consumers as they more convenient and easy to consume and carry. Tetrapaks are the most popular packaging among the manufacturers as well as consumers.
Global fruit juice market is significantly growing owing to rising health awareness among consumers and introduction of new products. The global fruit juice market valued USD 82.4 billion in 2016 and the market is expected to expand at a compound annual growth rate of 3.4% over the forecast period i.e. 2016-2024. Global fruit juice market is projected to reach USD 110.2 billion by the end of 2024. Geographically, Europe is the dominating market with more than 30% market share in terms of consumption and the Europe fruit juice market is expected to grow on the back of significant growing sales in Eastern Europe countries such as Poland and Romania among others. Europe is closely followed by the North America region which accounted for more than 24% share in global fruit juice market in 2016.
Rising Demand for 100% Natural Juices: Major Boost
According to Tetra Pak, a Switzerland based food processing and packaging Solutions Company, more than 60% of consumers prefer buying products with proven health benefits and 30% of consumers seek out products option that can relieve stress. However, fruit juice manufacturers face major challenge from the cost of raw material and seasonal fruits that are required for non-stop production of juices across the year, makes it difficult for manufacturers to control the cost of production.
“Global Fruit Juice Market Outlook 2024” contains detailed overview of the global fruit juice market in terms of market segmentation by product, by concentration types, by packaging type, by distribution channel type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Fruit Juice Market Report also includes provides competitive outlook of some of the major players of the global fruit juice market which includes profiling of companies such as Coca cola company, PepsiCo, Nestle SA, Del Monte Foods, Döhler Group, Hershey, True Organic, Welch Foods and Mott, Ocean Spray, Dr Pepper Snapple, Odwalla Inc. etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global fruit juice market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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