Global Juice 2019 - Key Insights and Drivers behind the Juice Market Performance
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A number of markets around the world have introduced sugar taxes, causing a drop in juice volumes. These taxes, implemented amid concerns over sugar content in beverages, have led to increasing retail prices. Despite often not being directly affected by these taxes, consumers have become increasingly concerned over sugar levels in all beverages; have reduced their consumption of juices in major juice regions and started switching over to lower-cost and healthier water and dairy products.
In response, manufacturers have attempted to lure consumers back to the category with the launch of low-sugar lines, but this will take time as the category has gained a reputation among consumers as an unhealthy beverage. The Asian market was the main source of growth globally as consumers were drawn to healthy fruit and vegetable flavors, while strong economic growth allowed consumers to purchase more premium brands with functional and health benefits such as added vitamins and minerals.
Juice volumes declined by 0.7% globally, driven by developed regions such as North America, Western Europe, and Australasia. While the category continued its downward trend of the last five years, the rate of decline was less steep as manufacturers reformulated their products to reduce sugar content. Investment in 100% juices has grown across the globe as manufacturers reduce additional sugar levels and focus their marketing on the vitamins and minerals in juices. This has led many consumers to return to the category.
Asia and Africa will be the main sources of juice market growth. In Asia, increased consumption of premium juices will boost volumes, while in Africa; government promotion of healthy juices will prove to be the most influential factor. Concerns over high sugar levels - whether natural or artificial - in North America and Western Europe will continue to negatively affect the juice market, but product reformulation and launches of lower-sugar alternatives will bring consumers back to the category and spark growth toward 2024.
Despite losing volumes to new and innovative flavors, orange remained the most popular juice flavor, accounting for nearly 40% of global sales. To appeal to health-conscious consumers, manufacturers have invested heavily in healthy juices such as coconut, grapefruit, pomegranate, cactus, and lime. Innovative new flavors are helping to bring consumers back to the category as health becomes an increasingly important part of the beverage selection process.
Increasingly hectic lifestyles have led to a reduction in sit-down breakfast occasions in countries across the globe. Longer working hours and arduous commutes have forced many consumers to more frequently eat and drink while on the move. To meet this demand, manufacturers have increased their production of small, single-serve 25cl and 50cl pack sizes. This trend is most prominent in Asia, Western Europe, and North America.
The report "Global Juice Report 2019" acts as an essential tool for companies active or planning to venture in to Global Juice (Soft drinks) market. The comprehensive statistics within the research handbook provides insight into the operating environment of the market and also ensures right business decision making based on emerging trends and industry model based forecasting.
GlobalData considers Juice as 100% pure fruit juice or vegetable juice with no added ingredients, except permitted minerals and vitamins for the purpose of fortification and permitted additives.
Global Juice Report 2019 report covers over 8 global regions comprising of Africa, Asia, Australasia, Easter Europe, Western Europe, Latin America, North America, Middle East and North Africa, provides -