The fruit juices and nectars market is projected to grow at a significant rate of 5.25% from 2019 to 2024 to reach a market value of USD 120.27 billion by the end of 2024.
Fruit juice, as a part of the Fruit Juices and Nectars market, is prepared by mechanically squeezing or macerating fruit’s flesh without the application of heat or solvents. Freshly squeezed fruit juice is as nutritious as consuming fruits, and hence, the rising demand for the same is benefitting the global market size attainable in the market period. Certain benefits of fruit juices that should be known by the customers include easy digestion of food, maintaining the level of nutrients needed by our body, removing the indigestible fiber, and cleansing.
COVID 19 Analysis
Since the pandemic has approached the lives of the common life, the lifestyle and daily chores are at a standstill as there has been a huge emergence of new norms and struggles. With the increasing footfall of the hospitals, healthcare services, and service providers working on their toes to reduce the adversities brought in by the deadly pandemic in the form of a major public healthcare emergency, the ongoing businesses like the FMCG shops, and the functioning of the production and manufacturing units belonging to the global enterprises are facing issues to maintain a proper equilibrium between the demand and supply chains of the market during the forecast period that will be ending in 2024. The implementation of permanent and temporary lockdown has resulted in the permanent closing of the cafes, hotels, pubs, and restaurants that have impacted the sales and demand of the global Fruit Juices and Nectars market.
But, as the global governments are slowly lifting the restrictions and, opting for the unlock phases, as the restaurants and cafes are opening. This is likely to further, have an impact on the sales degree of the Fruit Juices and Nectars market share in a positive manner. Also, the global governments are cooperating and also, reducing the implementation of stringent measures that will help in the revival of the market during the forecast period that will be ending in 2024. The prominent market players of the participating regions are opting for opportunities like mergers, joint ventures, and acquisitions that will help them emerge as dominant players in both the regional and the international markets from 2019 to 2024.
The rising health consciousness amongst the population belonging to the global locations is expected to enhance the global growth for the period and help the market reach a final market value worth USD 120.27 billion during the forecast period that ends in 2024. One of the reasons that will lead the market operations towards growth is that the market players are adding on to the availability of advanced and innovative techniques for the preparation of Fruit Juices and Nectars market products and services. Also, the target audience is increasing in their demand for berries and green leafy vegetable juices owing to the health concerns that will help the market to grow during the period.
The fruit juices and nectars market is witnessing the emergence of propelling market opportunities owing to the rising dependence of people to opt for consumable products that are healthy and ready to eat. There has been a huge demand for cold-pressed juices that are increasing among health-conscious consumers globally, due to their nutritional benefits, which is further influencing the market growth of fruit juices and nectars during the period that ends in 2024. Many of the demanding industries are offering organic fruit juices and nectars since there is a massive demand for organic beverages that have better nutritional values among consumers. The above-mentioned factors are driving the growth of the global fruit juices and nectars market and help it attain the predicted revenue for the forecast period of 2019-2024.
Fruit juices and nectars market has products and consumable variants that contain several essential nutrients, including vitamins, potassium, magnesium, folate, and others like antioxidants, which are necessary elements for human health. Due to rising awareness among consumers regarding the nutritional benefits that are associated with fruit juices, the demand for fruit juices and nectars is known to be increasing at a large scale globally. Currently, the global market players are offering a wide range of fruit juices and nectars, including apple, orange, mango, pineapple, litchi, and others like guava. However, the trends support the increasing use of artificial sweeteners and preservatives in fruit juices and nectars can hamper the growth of the global fruit juices and nectars market that has been forecasted for the period that ends in 2024.
The Fruit Juices and Nectars market outlook presents that the market report with the mention of growth opportunities during the period. The report also aims to discuss the revenue potential of the market segments in various global locations. The global fruit juices and nectars market size has been segmented based on the following factors:
Based on category
The fruit juices and nectars market has been segmented based on the category and includes sub-segments like organic and conventional and lactose-free.
Based on the packaging type
The global market has been segmented based on the packaging type and includes bottles, cartons, cans, and others.
Based on the distribution channel
The global market has been divided, based on distribution channel, into store-based and non-store-based. The store-based segment of the fruit juices and nectars market share is further segmented into supermarkets and hypermarkets, convenience stores, and others.
The global market is functioning in four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American market that is home to regions like the US and Canada is expected to dominate the fruit juices and nectars market during the forecast period ending in 2024 due to the increasing demand for fruit-based beverages in the region. The market trends support an easy availability of varieties of fruit juices in the market. This fact is anticipated to help in the boost of the fruit juices and nectars market in the North American region.
The key market players that are functioning in the fruit juices and nectars industry are mentioned as follows:
The fruit juices and nectars market report has been prepared to highlight the impact of the pandemic on the market operations and discusses the market dynamics in the form of drivers, opportunities, and restraints that are available to the market will impact the market during the period ending in 2024. The market report discusses the role of the performance of the market segments and considers the role of both the regions and the prominent players in enhancing the scale of market operations. The market report also highlights the recent developments undertaken during the period by the prominent market players.
Frequently Asked Questions (FAQ) :
fruit juices and nectars market valuation would be USD 120.27 billion by 2027.
fruit juices and nectars market CAGR would be 5.25% during the forecast period.
fruit juices and nectars market players in the report are
North America would lead the fruit juices and nectars market.
The packaging types included in the fruit juices and nectars market are bottles, cans, cartons, and others.