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Global Fruit Juice Market Outlook 2024 | Insights, Trends, Demand & Competitors Analysis

The global consumption of fruit juice accounts for 38.9 billion litres, in 2015. The global fruit juice market is accounted for USD 82.4 billion in 2015 and expected to expand at compound annual growth rate of 3.4% over the forecast period. Further, the market is anticipated to reach USD 110.2 billion by the end of 2024.
Factors that influenced the growth of global fruit juice market are rising disposable income population in emerging countries such as China, Russia, Brazil and India among others and product innovation. In past few years fruit juices had a bad reputation because of their added sugar contents. But in recent years new product developments implicated new processing methods and ingredient prominence on both flavors and functions. In terms of products, manufacturers are focusing on blending of exotic and superfruits. For instance, iTi Tropicals Inc., New Jersey based fruit concentrate manufacturer has developed various juice and coconut water blends.
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Growing population of aware consumers that can distinguish between fruit based beverages and fruit juices, propelling the growth of fruit juice market. Rising health awareness among consumers and growing personal disposable income of people, driving the growth of global fruit juice market. Rising concerns for heart and weight related issues, especially among teenagers and young adults have impelled the consumption of packaged fruit juices. However, major producers continue to face challenges in maintaining their margin growth in between total sales falling and rising logistic costs. The common instrument to improve margin growth is increase in product price which is risky to apply, as consumers in many markets are price-sensitive and are not willing to pay higher prices for standard products.
Global fruit juice market is segmented into product types such as PET/plastic, metal can, tetrapaks, glass and other (Dispense etc.). PET or plastics bottles are the most preferred pack size by the consumers as they more convenient and easy to consume and carry. Tetrapaks are the most popular packaging among the manufacturers as well as consumers.
Geographically, Europe is the dominating market with more than 30% market share in terms of consumption and the Europe fruit juice market is expected to grow on the back of significant growing sales in Eastern Europe countries such as Poland and Romania among others. Europe is closely followed by the North America which accounts for more than 24% share in global fruit juice market.
To maintain a strong hold in the market, leading companies are increasing investments in research and development activities and are focusing on enhancing their brand image. The leading players in the global juice market are Coca cola company, PepsiCo, Nestle SA, Del Monte Foods, Döhler Group, Hershey, True Organic, Welch Foods and Mott, Ocean Spray, Dr Pepper Snapple, Odwalla Inc. etc.
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News Release: Global Fruit Juice Market Outlook 2024 | Insights, Trends, Demand & Competitors Analysis
Submitted on: January 22, 2018 06:22:13 AM
Submitted by: Steve blade
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