Juice refers to a nutritious drink which is derived from the natural juices of fruits. It is prepared by manual or mechanical squeezing of the fruit. Fruit juice is a power-packed source of instant energy, known particularly for its refreshing taste and nutritional benefits. Apart from this, it caters several health benefits such as reducing the risk of cancer, boosting the immune system, removing toxins from the body, aiding digestion and enabling weight loss. Commercially prepared juices may have additives such as sugar, artificial flavours, seasonings, etc. In order to preserve these juices, various processes are employed such as canning, freezing, evaporating, spray drying and pasteurisation. A new research report by IMARC Group, titled “Fruit Juice (Orange Juice) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global fruit juice market reached a volume of 45 Billion Litres in 2017. The report further anticipates the market to reach approximately 50 Billion Litres by 2023, at a projected CAGR of nearly 2% over the forecast period.
Global Fruit Juice Market Drivers/Constraints:
- One of the primary factors influencing the demand for fruit juice is the rising number of health-conscious consumers who have shifted from carbonated or fizzy drinks to sugar-free beverages.
- In order to expand their consumer-base, manufacturers are focusing on widening their portfolio and coming up with innovative flavours, packaging and product development. This has further contributed towards the growth of the global fruit juice market.
- Some of the other factors that have facilitated the market growth include rising population, rapid urbanisation, mounting disposable incomes, changing dietary patterns, hectic lifestyles, improving living standards and a strong growth in emerging markets.
- However, there are several factors that hamper the market growth. A whole fruit has a healthy fibre that is lost during the process of extracting juice. Moreover, excessive juice can lead to poor nutrition, tooth decay, abdominal pain, bloating, etc.
Flavour Type Insights:
On the basis of type, orange exhibits a clear dominance in the global fruit juice market. Orange is followed by apple, mix fruit, grape and others.
On a geographical front, Asia enjoys a leading position in the global fruit juice market, accounting for the largest market share. Asia is followed by North America, Europe, Latin America, and Middle East and Africa.
The market is highly fragmented with the presence of abundant small as well as large manufacturers who compete in terms of prices and quality. There is a rigid competition in the market which makes it hard for small players to enter. Some of the leading players operating in the market are:
- Coca Cola
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