Asia-Pacific Cement - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2030)

Juices - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2030)

The Juices Market size is estimated at 137.9 billion USD in 2024, and is expected to reach 168.4 billion USD by 2030, growing at a CAGR of 3.39% during the forecast period (2024-2030).

Shift in consumer consumption patterns and rising demand for healthy drinks boosting the juices sales globally

• From 2021 to 2023, the sales value of juices surged by 6.73%, propelled by shifting consumer preferences. Sustainability has emerged as a prominent trend in the food industry. Thus, over 50% of European consumers cite sustainability as a reason for altering their eating habits. Among Europeans, 55% advocated for mandatory sustainability details on food labels. In April 2022, the UK introduced a tax on plastic packaging that didn't meet a minimum of 30% recycled plastic content.
• During 2024-2030, juice drinks are projected to witness the highest CAGR of 4.42%. Companies are aligning their juice drink offerings with the preferences of health-conscious consumers, who increasingly shun beverages with high calories, added sugars, and additives. As global consumer diets, especially in America and Europe, prioritize nutrition, the demand for innovative options to meet daily dietary needs is on the rise.
• In 2022, North America led the way with a per capita juice consumption of approximately 17.5 million liters. With economies expanding and disposable incomes rising, consumers are gravitating toward premium fruit juices and healthier beverage choices. Nectars, in particular, are witnessing a surge in demand as a result of their clean-label appeal and free-from preservatives and colorings. Notably, companies are now turning to honey as a substitute for artificial sugars in their nectar formulations.

The influence of health and wellness trends and new product launches drives growth globally

• The global juice market witnessed a volume-based CAGR of 1.61% from 2018 to 2023. Factors such as the rising health and wellness trends, product innovations, and enhanced packaging are pivotal in shaping the global consumer preference for juices. North America leads the pack in juice consumption, trailed by Europe and Asia-Pacific.
• In North America, dietary guidelines emphasizing the importance of fruit and vegetable intake significantly influence juice preferences. 100% juices dominate the North American market, with the United States alone consuming an average of 14.7 pounds of apple juice in 2021. Orange and apple juices command the lion's share of fruit consumption in the country.
• Germany and France jointly hold a significant 28% market volume share in Europe as of 2023. Europe stands out as the largest global juice importer, accounting for over 55% of the world's imports. The European market is poised for growth, driven by advancements in packaging, preservation techniques, and novel ingredients. In September 2023, RYNA Juice unveiled a new range of cold-pressed fruit juices in Europe, joining the ranks of established brands like KoRo, AH Juice, PRESS, B.fresh, and Coldpress.
• The Asia-Pacific juice market is projected to witness a volume-based CAGR of 4.69% from 2024 to 2030. This growth is propelled by a notable shift among health-conscious consumers in countries like China, India, and Australia, who are increasingly favoring healthier beverage options. In 2023, over 60% of Chinese consumers opted for fruit juices, while in Australia, fruit juices constituted a significant 21% of total fruit-related food consumption in 2021.

Global Juices Market Trends

Shift in consumer consumption patterns and rising demand for healthy drinks boosting the juices sales globally

• Health-conscious consumers are the major targeted audiences for juice manufacturers. In 2023, the United States has an estimated 64.19 million gym memberships. With the growing modernization, consumers often use AI and AR apps to scan juice labels in stores. These apps help them to provide real-time information about the product, including its nutritional value, sourcing, and potential allergens.
• One of the key attributes in the juices market is flavor variety. Consumers are constantly looking for juices in a multitude of flavors, ranging from traditional favorites like orange, apple, and grape and more exotic options such as pineapple, mango, and pomegranate. The juice brands are also advertising their products by introducing vitamin-added fruit juices to increase the nutritional profile of fruit juice products. Consumers prefer sustainable packaging and this trend continues to develop, in the form of a growing market for 100% recycled PET (rPET). Rigid plastic in beverages mostly refers to PET bottles, accounting for around 73% of soft drinks unit volume in Asia Pacific.
• Protein-based sports drinks sales globally witnessed a growth in 2022. As demand for protein-based sports drinks is growing, major key players are increasing their sales with their innovation. In 2022, more than 76% of global consumers paid a higher price for protein-fortified food and beverages including protein-based sports drinks. Also, in 2023 the price for protein-based sports drinks ranged between USD 2.2 to USD 5.1.
• Consumers have become more active and are engaged in sports and athletic activities due to the prevalence of diseases like obesity, diabetes, high blood pressure, and many more. In the older times, sports drinks were only for athletes and sports personnel. Also, the health implications of high sugar intake and consumption have given rise to a higher demand for sugar-free protein beverages among consumers across the globe. The diabetic and obese population are inclined towards these types of drinks.

Juices Industry Overview

The Juices Market is fragmented, with the top five companies occupying 7.08%. The major players in this market are Eckes-Granini Group GmbH, The Coca-Cola Company, The Kraft Heinz Company, Tingyi (Cayman Islands) Holding Corporation and Tropicana Brands Group (sorted alphabetically).

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