Global Vegetable Juice Market - 2021-2028
発行: DataM Intelligence
ページ情報: 英文 180 Pages
Vegetable juice is a beverage derived from a variety of vegetables blended together and the drink is widely served as a snack, breakfast or an ingredient in other recipes. These drinks are often available commercially as drinks and are also dried to the form of a thick powder. Vegetable juice is frequently mixed with fruits such as apples or grapes by juice manufacturers to improve flavor. It is regularly promoted as a low-sugar alternative to fruit juice, meanwhile some commercial vegetable juice brands use fruit juices as sweeteners, and may contain large amounts of sodium. These drinks are widely consumed as a health beverage owing to the high nutritional content and health benefits they offer. Also, vegetable juices pose beauty benefits, in that they help in maintaining skin moisture. The ingredients used for vegetable juice can be different according to the region, focusing on local taste. For instance, in China, vegetable juices are also made from a yam named Dioscorea opposita. Cabbage juice sold in Japan under the Aojiru brand is well known for its purported health benefits and for its bitter taste. The global vegetable juice market valued USD XX million in 2020 and is estimated to reach USD XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
The health awareness trend continues to dominate the beverage market, and as people are increasingly searching for healthier alternatives to carbonated soft drinks, vegetable juices provide a convenient option compared to processed fruit juice. However, as vegetable juice is a relatively new market, manufacturers are keenly focusing on product differentiation, promotion and developing juices that focusing on health benefits. Based on consumer's changing taste and preference, drinks manufacturers are focusing on adding extra vitamins and minerals to their products which is a mix of different types of vegetable. Consumers, now a days are increasingly preferring natural vegetable juices or which contain 100 % in vegetable content. This '100% juice trend presents considerable growth opportunities for juice making vendors and producers currently are also researching in the 'free from', functional, luxury and ethical drinks.
However, high cost of vegetable juice compared to its counterparts as well as risk of cross-contamination of raw unprocessed juices and poor packaging could hinder the vegetable juice market's growth over the forecast period.
Vegetable juice are prepared from wide array of vegetables such as beetroot, cabbage, carrot, garlic, lettuce, spinach, pepper, celery, onion, tomato and green leafs. Tomato and cabbage are the most common vegetables used for juicing, owing to the high consumer preference across North America and Europe. Tomato juice is gaining traction among health-savvy population owing to its high health benefits. It is high in antioxidants and acts as a natural detoxifying agent, lowers cholesterol, improve digestion and eye health. Thus, the consumption of tomato juice as a functional beverage is growing across the globe.
Cold pressing evolved as the lucrative technology for juicing vegetables, as cold-pressed beverages retain all the nutrients present in fresh vegetables. These beverages are considered as the exact alternative of fresh vegetables in liquid form in offering vitamins, minerals, enzymes and also taste.
Europe is the dominating market for vegetable juice due to the changing preference of millennial, growing health awareness, presence of established market compared to other regions, high disposable income and health benefits and nutritional portfolio of vegetable juices. From surveys it has been concluded that, millennial demographic of the world is increasingly inclined towards healthy food and beverages, which is a positive factor for vegetable juice market. Additionally, various government initiatives and suggestions, changing lifestyles, increasing advertisement through social media and internet, increasing social awareness, are also driving sales of vegetable juice market.
The Asia Pacific region is expected to acquire a high compounded annual growth rate (CAGR) in the forecast period due to factors such as increasing per-capita income, growing health awareness, and huge population. Brands providing 'super food' vegetable juices or others with strong pro-health profile are expected to tap into this increased demand.
The global vegetable market is fragmented with large number of companies operating the industry. The high growth prospects for sales of these products is motivating new players in to the market with novel formulations. Most of these new entrants are small to medium sized firms in terms of market capital, as development, production and marketing of vegetable juice is not capital intensive. The rising consumption of vegetable juices as a health drink is supporting the growth potential. Also, the consumer preferences in terms of flavors and nutritional choice are evolving with time and knowledge. These factors are motivating companies towards development of new formulations. Some of the leading vegetable juice companies are Alvalle, Fruchtsaft Bayer GMBH & Co. Kg, Asahiryokuken Inc., Biotta AG, Aureli Agricultural Company, Bjorg, Evernat, Sautter and Campbell Soup Company.
In 2018, the Orior Group takes over Biotta AG, the pioneer in 100% natural and organic vegetable and fruit juices.
Vegetable juices evolved as one of the major health drinks of choice to improve immune system during the pandemic. The consumption pattern in fruits and vegetable is greatly altered in 2020, in that the share of juices in overall consumption increased significantly. Juices made from vegetables such as tomato, beetroot, carrot and green leafy vegetables are proven to have a positive impact on immune system. These categories witnessed increased sales during the year
Also, the health consciousness among consumers increased and spending towards health promoting food products is increased. The sales ratio of commercial products to home-made juices is high in the U.S. and Europe than that of other regions. Thus, the U.S. and the European region accounted for much of the global market growth in 2020.
In developing markets, much of the increase in consumption is from the home-made juice category and the sales of commercial products witnessed limited growth hike.