A new research report by IMARC Group, titled “Fruit Juice Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global fruit juice market reached a volume of more than 45 Billion Liters in 2018, registering a CAGR of around 2% during 2011-2018. Fruit juice refers to a commercially prepared non-fermented beverage which is derived from fruits by mechanically squeezing or macerating them. Also used as an ingredient or flavoring agent in several foods, fruit juice is characterized by a refreshing taste and is a rich source of instant energy and nutrients. In addition to this, it is extremely beneficial for health as regular consumption of fruit juice boosts the immune system, improves metabolism, removes toxins from the body, lessens the risk of cancer, reduces cholesterol levels, aids in digestion and helps in weight loss. Due to rapid urbanization, hectic lifestyles, inflating disposable incomes, changing dietary patterns and improving standards of living, the consumption of fruit juice has increased across the globe.
Growing awareness about personal health and fitness among consumers has led them to shift from carbonated or fizzy drinks to healthy and sugar-free beverages like fruit juices. Moreover, due to multi-layered tetra-packaging, fruit juices have a longer shelf-life which makes them a preferable choice when compared to fresh fruits. Additionally, manufacturers are producing fruit juice variants with innovative flavors and high-quality packaging in order to attract a larger consumer base. Apart from this, cold-pressed fruit juices have gained popularity among consumers as the manufacturing process does not reduce their nutritional value. Furthermore, the introduction of cheaper variants of cold-pressed juices is anticipated to provide a thrust to their sales in the coming years. Due to these factors, the market is projected to reach a volume of around 51 Billion Liters by 2024.
- Based on types, the market has been divided into 100% fruit juice, nectars, juice drinks, concentrates, powdered juice and others. Amongst these, juice drinks represent the most popular product type.
- On the basis of flavors, the market has been categorized into orange, apple, mango, mixed fruit and others. Currently, orange represents the largest segment, accounting for the majority of the market share.
- Based on distribution channels, supermarkets and hypermarkets hold the dominant share. Other major distribution channels include convenience stores, specialty food stores and online retail.
- Region-wise, Europe is the leading market for fruit juice, holding the majority of the total market share. Other major regions include North America, Asia Pacific, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been analyzed with the detailed profiles of the key players operating in the industry.
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