ID: MRFR/F-B & N/1488-CRR | October, 2018 | Region: Global | 110 pages | Cooked Research Reports
Cold Pressed Juices Market Research Report, by Category (Conventional and Organic), Type (Fruits, Vegetables and Blends), Distribution Channel (Store Based and Non-Store Based) and Region (North America, Europe, Asia Pacific and ROW) – Forecast till 2023
Synopsis of Cold Pressed Juices Market:
Fruit juices that are manufactured using cold pressed technology have gained tremendous commercial interest in recent years. It is fair to say that cold pressed juices have hit the ground running. Several F&B brands have already introduced a wide variety of cold pressed juices realizing the market opportunity. MRFR notes that the value of global cold pressed juices market will surpass USD 2,500 Mn by 2018-end. This market is projected to record an above-average CAGR of 9.50% between 2018 and 2023. Despite having a relatively higher price tag than the traditional processed juices, popularity of cold pressed juices continues to grow. Increased level of health consciousness among consumers, especial millennials can be pointed at for the rapid escalation in demand for the product. Brands are marketing their cold pressed categories on fronts such as healthy, freshness and purity.
This MRFR report offers a comprehensive assessment of the global market for cold pressed juices. The report includes market revenue forecast, until 2023. The market sizing available in the report is based on certain parameters that are considered critical for the purpose of assessment. The analysis is based of factual finding pertaining to production, sales, and consumption trends. The report also includes a thorough discussion on market dynamics such as drivers, restraints, market trends and opportunities. The scope of the discussion also covers products (fruits, vegetables and blends) used for preparing cold pressed juices. Both conventional and organic variants are profiled in the report. The report also includes a revenue analysis based on store based and non-store based distribution channels.
Historical market trends, market dynamics, forecast, market value by region as well as by segmentation, country-level analysis for each market segment, key player’s market share analysis and market factor analysis which covers supply chain and Porter’s five forces analysis of the market.
Suja Life, LLC, PepsiCo Inc., CEDAR Juices, Evolution Fresh, Liquiteria Inc., Bolthouse Farms Canada Inc., Hain Celestial Group, Greenhouse Juice Co.
Market Research Future’s research methods consist of both primary and secondary data analysis which are carefully chosen to reflect accurate findings of the study of a market. Primary methods include one-on-one interviews with industry professionals and key-level executives to gain a better understanding of the market. This is then followed by secondary methods such as SECs, whitepapers, authenticated databases, reputed journals and others which acquired from publicly available sources. This in tandem with taking a magnifying glass to historical analysis and current market positions offers an eagles eye view of the market. Estimations and validation of the market have been performed using top-down and bottom-up approaches. All relevant facts are taken into account to offer clients with the ability to make well-informed decisions with confidence.
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for cold pressed juices
By Distribution Channel
Within the beverages market, the cold pressed juices category is one of the fastest growing one and as per the analysis of Market Research Future (MRFR), the global cold pressed juices market is projected to surpass the USD 3.50 Bn mark at a CAGR of 9.50% over the forecast period of 2018-2023. The global cold pressed juices market was valued at over USD 2.3 Bn in 2017.
Global cold pressed juices market has witnessed substantial growth over the last few years owing to escalated demand from health-conscious consumers. Cold pressed juices are devoid of any chemicals, colors, added flavors, sweeteners or preservatives. They are prepared using High Pressure Processing technique, which keeps all the nutrients intact in the juices. Consumers' growing affinity towards natural and safe label nutritional beverages has been a plus for the market growth. The millennial population, in particular, are inclined towards cold pressed juices since they intend to sustain a healthy lifestyle. To tap a sizeable base of health-conscious consumers, manufacturers of cold pressed juices are concentrating on product customization. Companies are offering unique flavor blends with enhanced functionality. They are also offering customizable options for various functional uses like weight loss, detoxification, and rejuvenation along with monthly or annual subscription packages which are augmenting the growth of the global cold pressed juices market. On the contrary, complex processing procedure and high cost of cold pressed juices as compared to conventional produce is likely to impede the growth of the cold pressed juices market. Low shelf life too remains a challenge for the growth of the market. However, manufacturers are investing heavily in R&D activities to bring in a potential solution for the same. Manufacturers are also aiming in creating strong awareness among consumers through food service partnerships with convenience stores, big box chains, and restaurants which will further intensify the growth of the global cold pressed juices market.
The global cold pressed juices market has been segmented based on type, category, and distribution channel. By type, the market has been segmented into fruits, vegetables, and blends. Type-wise, the blends segment was the largest segment in 2017 and is expected to retain its position at a CAGR of 9.90% over the forecast period. Blended cold pressed juices are prepared with a blend of fruits & vegetables, fruits & herbs, vegetables & herbs, and others and are highly preferred because of their nutritional profile and quality.
By category, the market has been segmented into conventional and organic. The organic segment was the largest in 2017 and is expected to maintain its dominance over the forecast period. Being prepared from organic ingredients, organic cold pressed juices are gaining widespread adoption owing to growing consumer awareness towards clean label products. The organic segment is projected to capture a CAGR of 9.96% over the forecast period.
By distribution channel, the market has been segmented into store-based and non-store based. The store-based segment was the largest segment in 2017. The segment is expected to expand at a CAGR of 10.93% and remain the largest segment. The store-based distribution channel is very convenient for consumers and provides them with one stop shopping experience.
North America, Europe, Asia Pacific, and the Rest of the World are the key markets of the global cold pressed juices market. North America accounted for the largest share of USD 1,321.2 Mn of the global market in 2017 and is expected to retain its lead over the forecast period. North America is currently holding a 56.9% share of the global market and is an attractive destination for cold pressed juice manufacturers. Organic juice consumption is one of the trends which has been gaining traction in the US of late. The high popularity of cold pressed juices, high awareness among consumers regarding the benefits of cold pressed juices, expansion of product portfolio and a high degree of promotional activities by manufacturers in the region is expected to reflect positively on the North America cold pressed juices market.
Growing focus on preventive healthcare and technological up gradation in juice processing technologies is affecting the Europe cold pressed juices market positively.
Asia Pacific is also expected to emerge as a significant growth pocket. Growing disposable income in the emerging economies of Asia Pacific coupled with increasing expenditure on lifestyle products is likely to enhance the sales of cold pressed juices within the Asia Pacific region. Asia Pacific cold pressed juices market is expected to expand at a CAGR of 8.81% over the forecast period
CEDAR Juices, PepsiCo Inc ., Bolthouse Farms Canada Inc., Suja Life, LLC, Evolution Fresh, Greenhouse Juice Co., Liquiteria Inc., and Hain Celestial Group are the notable players operating in the global cold pressed juices market.
Escalating demand for clean-label and natural beverages among the increasing health conscious population is encouraging the key players of cold pressed juices to expand their business portfolio in the global market
Major key players listed in the cold pressed juices market include PepsiCo Inc. (US), Suja Life, LLC (US), Evolution Fresh (US), and Liquiteria Inc. (US) among others. Cold pressed juices have an established market throughout the globe owing to shifting consumer demand towards healthy diet. Also, the growth in the marketing strategies adopted by the key players is a major driver in the global cold pressed juices market. These listed players account for the major developmental share in the global cold pressed juices market. To compete with the new players entering the cold pressed juices market, the established players follow certain strategies to sustain their consumer base.
PepsiCo Inc. accounted for the highest market share in terms of development and is projected to constitute 32% of the developmental share in the global cold pressed juices market. The company delivers wide range of cold pressed juices under the brand named “Naked Juice”. The company is majorly focusing on expanding its distribution reach. For instance, the company is planning to build a new distribution plant in Chesterfield, Virginia, the US in the year 2018. Moreover, the company also launched an online platform, PepsiCo Partners, expanding its business into an ecommerce segment on May 2018. Acquisition and product launch are also witnessed to be a part of their strategic development in past few years.
Suja Life, LLC accounted for a share of 18% of the overall development in the global cold pressed juices market. This company is highly involved into diversified strategic developments. The company is focusing into new product launches offering a wide range of products to the consumers and is also undertaking strategic partnerships to have a sustainable growth. It is highly involved into R&D and launch of new products widening their product portfolio. For instance; the company launched organic kombucha drink line at Costco, a retail chain company in the US on July 2017. Moreover, the company announced an investment and distribution partnership with The Coca‑Cola Company on August 2015.
Liquiteria Inc. also holds a prominent place in the market with strong focus on geographical expansion. For instance, the company opened a new shop at Chelsea, London in September 2013 to increase sales. Then in 2014, the company opened 2 more shops in the US. The company is also focusing on launching new products frequently to increase their product offerings and compete in the market.
Other major manufacturers include Hain Celestial Group (US), Evolution Fresh (Starbucks Corporation) (US), Pressed Juicery Inc. (US), and Juice Generation Inc. (US), among many others. These companies are also found to have a high focus on strategic product launch to seek consumers’ attention towards their product range. They are also involved in the strategic agreement which will further support the company to expand and reach out to consumers across the regions. Acquisitions are also made to mark the company’s presence and expand their business line. Additionally, the companies are inclined towards product promotions and strengthening their marketing base. The promotional strategy aids in retaining the existing customers and to regenerating new customer base.