Asia Pacific Fruits and Vegetables Juice - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Asia Pacific Fruits and Vegetables Juice - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Asia Pacific Fruits and Vegetables Juice Market size is estimated at USD 28.06 billion in 2024, and is expected to reach USD 34.13 billion by 2029, growing at a CAGR of 4% during the forecast period (2024-2029).

In the Asia-Pacific region, the growth in the fruit and vegetable juice market is driven by heightened demand for healthy food from an increasingly health-conscious consumer base. To meet this consumer requirement, key players are focusing on introducing different varieties and flavors, along with innovative packaging and product development. In addition, the advancing retail sector in the region has increased the accessibility of consumers to a wide range of products being introduced in the market, which is supplementing the growth rate. However, supermarkets and hypermarkets lead the contributing share among other sales channels in the region.

Additionally, shifting consumer tastes for products with less or no sugar is pushing beverage makers to develop new products according to the consumers' demands. Since customers are actively striving to avoid consuming sugary drinks to minimize the negative consequences of excessive sugar intake, these firms are developing a variety of unique items to meet the accelerating demand for such products. For example, in 2021, Dole Sunshine India introduced natural pineapple juice. The product was claimed to be all-natural with no added sugar or artificial preservatives.

APAC Fruits & Vegetables Juice Market Trends

Growing Demand for Organic Beverages

Consumers are opting for products that do not have chemical ingredients, leading to a rising demand for natural and organic foods and beverages. This change in the consumer's preference will lead to high demand for organic juices. Owing to increasing preference for organic food products, retail chains are increasingly offering organic products such as organic dairy products, organic drinks, organic juices, organic cereals, organic meat, and others that are expected to grow in the near future. As a result, consumers today are increasingly aware of the rampant usage of synthetic ingredients in packaged juices and have been dissuaded from using such products. This, in turn, is propelling the demand for natural and organic juices market across the region.

According to the USDA Foreign Agricultural Service, the consumption value of organic beverages in India reached USD 92 million this year. Compared to the prior year, when the consumption value was USD 81 million, this reflects an increase in organic beverages across the nation. Organic juice demand has been gradually increasing in households as a convenient and nutritious option. Consumers are turning away from sweetened beverages and are actively seeking beverages that have the natural goodness of fruits and are free from chemicals. In addition, an increased inclination of consumers toward low-calorie and high-fiber beverages, such as organic fruit juices, vegetable juice, and blends, is anticipated to augment the growth of the market studied.

China Holds the Largest Market Share

China is emerging as the world leader in terms of agricultural produce. According to the National Bureau of Statistics of China, the production volume of fruits has been increasing in the country over the past decade. In 2021, the nation's production of fruits amounted to approximately 299.7 million metric tons. This factor enables the manufacturers to access comparatively cheaper raw materials and offer their products at competitive prices, which is one of the factors thriving the associated processed food market, majorly the fruit and vegetable juice market. Furthermore, the high purchasing power of the Chinese population, aided by surplus domestic production, has contributed to increased juice consumption within the country. Additionally, with the innovation of new products, the fruit and vegetable juice market can be estimated as a flourishing industry in China. The country has been a dominant contributor in the global market since the last few years, and a leading exporter of juice, mainly to the markets of the United States, Russian Federation, and Japan, leading to a decent revenue share from respective countries.

APAC Fruits & Vegetables Juice Industry Overview

In the Asia-Pacific fruits and vegetables juice market, consumers prefer innovation in fruit and vegetable juices, an example of which is the natural ingredient products. The major players are focusing on introducing new products in the market studied to cater to the interests of the consumers. Additionally, the players have been expanding their distribution network to penetrate the market across the region. Some of the major players in the market studied are PepsiCo Inc., The Coca-Cola Company, Del Monte Foods Inc., Dabur India Ltd, and ITC Limited, among others. Moreover, brands are differentiating their products in terms of design, quality, and pack designs that are eco-friendly and have trendy designs to gain a competitive advantage.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support