The latest report by IMARC Group, titled “Fruit Juice (Orange Juice) Market – Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global fruit juice market has grown at a CAGR of around 1.6% during 2010-2017, reaching a volume of 44.6 Billion Litres in 2017. Fruit juice is a liquid that is naturally contained in fruits. It is extracted by mechanically squeezing or macerating the fruits. It is commonly consumed as a beverage or used as an ingredient or flavouring agent in foods. Owing to its refreshing nature and nutritional benefits, the fruit juice market currently represents a multibillion-dollar industry. According to the report, the market is further expected to grow at a CAGR of 1.7% during 2018-2023, reaching a volume of around 49.3 Billion Litres by 2023.
The market for fruit juice is driven by several growth-inducing factors. The primary factor for the growth is the rising health concerns, as a result of which the consumers are now shifting from carbonated drinks to organic beverages which are free from added sugar, flavours and preservatives. This has increased the demand for fruit juice globally. Some of the other factors which have accelerated the demand for fruit juice are increasing disposable incomes, value addition, product innovation and growth in emerging markets.
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The report has segmented the fruit drinks market depending upon their juice content. Currently, 100% fruit juice (which contains no added sugar, preservatives, colour, etc.) accounts for almost half of the total market share. Other fruit drinks include Nectar (25-99% juice content), Juice Drinks (up to 25% juice content), Concentrates and Powdered Juice. On the basis of flavour, orange represents the most popular flavour followed by apple, mix fruit and grape.
The report has further segmented the market on a regional basis. Some of the regions included in the report are North America, Western Europe, Asia-Pacific, Latin America, Eastern Europe and Africa and Middle East. Currently, North America represents the largest market for fruit juice, accounting for the majority of the global shares. According to the report, the demand in North America is expected to decline during the forecast years. However, the emerging markets like Asia-Pacific, Latin America, Africa and Middle East are expected to exhibit a positive growth during the forecast period. The report has also analysed the competitive landscape of the market. Currently, Coca Cola and PepsiCo are the major players operating in the market.
This report has provided a detailed technical insight on setting up and operating a fruit juice manufacturing plant. It covers all the prerequisites of the fruit juice industry and provides a comprehensive analysis of the market, industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. It also offers SWOT, Value Chain and Porter’s Five Forces analysis and regional segmentation followed by an analysis of the competitive landscape. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the fruit juice industry in any manner.
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