Fruit and Vegetable Juice Market - Growth, Trends, and Forecasts (2023 - 2028)

The global fruit and vegetable juice market will witness a CAGR of 4.85% over the next five years.

The growth in the fruit and vegetable juice market is driven by the increasing demand for healthy beverages from an increasingly health-conscious consumer base. The main factors behind their success are consumers' increased awareness of the benefits of eating more nutritious foods, the fact that mixed beverages combine nutrients and bioactive compounds from various Fruits and Vegetables with significant health benefits, along with their alluring sensory qualities, and also that they are now available in ready to drink forms drives the market further.

The growing popularity of cold-pressed juices is one of the key factors influencing the growth of the global juice market. Cold-pressed juices preserve the vitamins, minerals, and enzymes lost during the heating and oxidizing phases of the traditional processes of making juices.

The growing strength of mixed fruit and vegetable smoothies in the market is increasing because of the trend towards healthy eating habits. Still, the effect of their preservation techniques or treatments is more complex than usual juices. Therefore, there is a need for natural antimicrobial treatments or the implementation of hurdle technologies. As most untreated or natural beverages tend to have shorter shelf-life which is mainly due to the microbial growth associated with their spoilage, while Traditional heat treatments, used to preserve and ensure the safety of these products, result in chemical and physical changes that affect sensory properties, reduce the number of nutrients and bioactive present or their bioavailability, change their inherent characteristics, and alter the desired benefits. Hence, it is anticipated that the market for fruits and vegetable juices would offer significant growth potential for more natural and advanced preservation approaches.

Key Market Trends

Increasing Demand for Fortified Juices

A healthy diet must include fruits and vegetables since they are a good source of vitamins, minerals, fiber, and bioactive substances. Sufficient consumption of fruits and vegetables has been shown to lower the incidence of several major diseases and fatalities. However, fruits and vegetables are pretty perishable due to their high moisture content (up to 85%, w.b.) and the metabolic and respiration processes that occur after harvesting. It is stated that vegetables, fruits, and preserves such as juices must be included in an individual's daily diet. Due to their health-promoting qualities, nutritionists advise that one consume a minimum of 400 g of fruits and vegetables daily in 5 portions to distribute essential nutrients for health equally. According to the World Health Organization (WHO), one of the top ten health risk factors is the poor consumption of fruits and vegetables. A diet low in fruits, vegetables, and preserves has been linked to several chronic diseases, including cancer, obesity, and cardiovascular disease, according to a large body of scientific research. Therefore, fruit juices fortified with functional ingredients offer several health benefits to consumers.

Moreover, the growing trend among consumers to maintain good health is promoting the innovation of products in this segment. For example, Omega-3, fiber, bioactive compounds, vitamins, and probiotic bacteria are some of the functional ingredients that offer immense product opportunities for the juice industry. Vitamins are added to fruit juices to increase the nutritional profile of fruit juice products. Vitamins D, E, A, and C are popular vitamin types added to fruit juices. Various government initiatives are undertaken worldwide to increase the consumption of fortified food and beverage. Because fortified fruit juices can enable different kinds of vitamins and nutrition to the consumer, there is a significant rise in demand for these products around the globe, which is also one of the main reasons for driving the market.

Middle-East and Africa is the Fastest-growing Market

The current average per capita consumption of fruit and vegetable juices in the Middle East and African region is comparatively lower than that of the developed regions but is increasing at a quick pace. With the rising obese and underweight population in gulf countries, consumers are shifting toward healthier options, such as fruit-based non-carbonated drinks, supplementing the growth in the fruit and vegetable juice market in the rest of the region. Education levels play an important role in determining the health status of consumers in this region. A shift toward healthier fruit and vegetable juices instead of carbonated energy drinks is surfacing in the region. One of the potential reasons for the growth of this market in South Africa is the government's awareness campaign focused on orienting consumers toward healthier food consumption habits. Moreover, due to the presence of several traditional cultures in this region, consumers prefer organic and natural products rather than any chemically composed products. Consumers in this region prefer a healthier lifestyle and follow a healthy diet. Thus, the demand for fruit and vegetable juices is increasing in this region, which is also uplifting the market.

Competitive Landscape

The market studied is highly competitive due to the presence of domestic and international players in this sector. The major players in the industry include PepsiCo, Inc., Kraft Heinz Company, Keurig Dr. Pepper Inc., Coca-Cola Company, and Campbell Soup Company. Key players are focusing on product development and product innovation to meet the consumer's needs by offering a variety of tastes and product quality to maintain premiumization. Some of the major players use mergers and acquisitions as their key strategy. The strategy to follow mergers and acquisitions by these top players is to sustain and secure a leading position in the industry. This will enable the companies to maintain dominance over other players and remain in intense competition with other players in the market.

Additional Benefits:

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