Owing to changing lifestyles and increasing consciousness among consumers regarding what they consume, demand for healthy food and beverages is increasing among the consumers across the globe. Juices are one of the most preferred beverages among all the demographics across the world, owing to numerous health benefits and high nutritional portfolio offered. Vegetable juices contain anti-oxidants and vitamins that helps in improving and maintaining the health of individuals. As the lifestyle of individuals is changing globally, vegetable juices have found a place in daily meal, as demand for healthy beverages is increasing globally. Vegetable juice possesses numerous phytonutrients, phenolic compounds, and antioxidants that helps to remove free radicals from the body, improving blood circulation, boost immune system etc.
Vegetable juice market is expected to increase by substantial CAGR over the forecast period, owing to increasing inclination of consumers towards choosing healthy beverages. Owing to increasing disposable income across the Asia Pacific countries, vegetable juice market is expected to increase by significant CAGR over the forecast period. Vegetable juices are becoming more popular among millennial across the globe and witnessing significant growth from past few years and are expected to continue the same trend in upcoming years as well.
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Vegetable Juice Market: Segmentation
Vegetable juice market is segmented on the basis of nature, product type, sales channel and region.
On the basis of nature, vegetable juice market is segmented into organic and conventional. Organic segment of vegetable juice market is expected to exhibit relatively high CAGR over the forecast period, as it is assumed that organic products are more healthful as compared to conventional food products.
Vegetable juice market is further segmented on the basis of product type into frozen, chilled, shelf stable, and others. Frozen and chilled segment of vegetable juice market is expected to increase with substantial value CAGR over the forecast period.
On the basis of end-use, the vegetable juice market is segmented into HoReCa, household, institutions, and others. Institutions segment is expected to witness relatively high CAGR over the forecast period.
Vegetable juice market is further segmented on the basis of sales channel into direct sales and retail sales. Retail sales is further sub-segmented into modern trade, convenience stores, specialty outlets, online retailing and other retailing formats. Modern trade and specialty outlets segment is expected to exhibit relatively high value CAGR over the forecast period.
Vegetable Juice market: Drivers, Restraints, and Trends
In the recent years, increasing number of millennial are getting health conscious across the globe and is expected to increase over the forecast period, leading to the growth of vegetable juice market over the forecast period. In many developed regions such as Europe, Canada, the U.S., vegetable juice market is booming, owing to a couple of reasons such as high disposable income, health-conscious individuals and health benefits and nutritional portfolio of vegetable juices. Millennial demographic of the world is increasingly inclined towards healthy food and beverages, which is a factor driving the growth of vegetable juice market. Changing lifestyles, an influence of social media and internet, increasing social awareness, is also expected to drive sales of vegetable juice market. Because of health benefits associated with vegetable juice, people are preferring to consume vegetable juice, which is driving the growth of the vegetable juice market and this is expected to continue over the forecast period.
On the other side, cross-contamination of raw unprocessed juices and poor packaging could impede the vegetable juice market’s trajectory over the forecast period and affect the sales of Vegetable Juice market. In addition, relatively high prices of vegetable juice also limit the scope of the sales and could possibly hamper the growth of vegetable juice market to an extent.
Shifting focus of individuals towards healthy food and beverages consumption is trending. Also, increasing number of individuals in North America and Europe are preferring to buy organic food products irrespective of high prices.
Vegetable Juice Market: Regional Outlook
On the basis of region, vegetable juice market is segmented into five different regions: North America, Latin America, Europe, Asia Pacific and MEA. Among these regions, Europe and North America are expected to have the major value share of vegetable juice market globally, as both of these regions accounts for relatively high consumption of vegetable juice. The Latin America Vegetable Juice market is expected to grow significantly over the forecast period, but is anticipated to account for a lower growth rate than the APAC region, owing to a greater number of emerging economies in APAC. In Asia Pacific region the countries like China, Japan, India and Australia are generating the major revenue. The APAC Vegetable Juice market is estimated to account for relatively high value CAGR over the forecast period, owing to a larger consumer base, combined with a higher number of retail outlets than any other region.
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Vegetable Juice Market: Key Players
Some of the key players in Vegetable Juice market are Biotta, Campbell Soup Company, Naked Juice Company, Suja Life, LLC, Motts, LLP., Evolution fresh, and other regional players.