ID: MRFR/CR/6827-HCR | February 2021 | Region: Global | 90 pages
Juicer Market Overview
Global Juicer Market is expected to garner a revenue of USD 4 billion by 2024 with a CAGR of approximately 6.9% during the forecast period, 2019–2024 Fruit juices are one of the most common and easily available consumer beverages and the rising demand for the same is likely to give birth to new opportunities for the market to grow and expand upon during the forecast period that ends in 2027.
Juicer is a juice machine whose design supports the derivation of juices of different fruits and vegetables. Also, the juicer machines help in extracting the juice from various kinds of herbs. Some of the common types of juicers are - centrifugal, masticating, and triturating juicers.
COVID 19 Analysis of Juicer Market
Since the pandemic has approached the lives of the common life, their daily chores are at a standstill with the emergence of new norms and struggles. With 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 businesses like the FMCG shops, and the production and manufacturing units belonging to the enterprises are facing issues to maintain a proper equilibrium between the demand and supply of the juicer market during the forecast period that ends in 2027. The lockdown has resulted in the permanent closing of the cafes, hotels, pubs, and restaurants that have impacted the sales of the global juicer market.
But, as the government is slowly lifting the restrictions and opting for the unlock phases, the restaurants and cafes are opening. This is likely to impact the sale of juicers in a positive manner. Also, the government is cooperating and reducing the implementation of stringent measures that will help in the revival of the juicer market during the forecast period that ends in 2027. The prominent market players that are functional in major locations of the world are opting for mergers, joint ventures, and acquisitions that will help them emerge as dominant players in both the regional and the international market during the period of 2020-2027.
Juicer Market Dynamics
The rising health consciousness amongst the population belonging to the global locations is expected to enhance the global growth for the period during the forecast period that ends in 2027. 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 juicers. Also, the target audience is increasing their demand for berries and green leafy vegetables that will help the market to grow during the period. The increasing popularity of smart juicers and the rise in the prevalence of multifunctional juicers will help the juicer market to grow as per the predictions of the industry leaders during the forecast period of 2020-2027.
The market is witnessing propelling opportunities owing to the rising dependence of people to opt for products that are healthy and ready to eat. The manufacturing of juicers helps in producing the juices and helping the consumers get their hands on the same with the help of manufacturers that provide them with packed materials. The market leaders have been witnessing a major focus on manufacturing new products for a huge variety of applications that are responsible for increasing the demand from the end of the target audience.
The rising demand for fruit and vegetable juices is full of fiber, and the rising number of awareness campaigns leading the manufacturers to make the best use of the available technology and present the best food alternates for the target audience. Consumers are increasing their preference for fresh fruit and vegetable juice instead of the packaged ones that have a higher degree of preservatives promise great growth for the juicer market during the forecast period that ends in 2027. The demand for juices in cafes and cafes is soaring high with better capabilities and the availability of raw materials is helping the market.
The juicer market outlook presents that the market with growth opportunities during the period based on the revenue potential of the market segments in various global locations. The market has been segmented based on the following factors:
Based on the products
The juicer market products are masticating juicers, triturating juicers, and centrifugal juicers.
Based on the market end-users
The commercial and residential are the end-users of the juicer market.
Based on the market applications
The application segment of the global juicer market operations includes public services, the household sector, shops, and others like food services, cafes, and restaurants.
Based on the type
The type segment of the juicer market includes slow juicers and traditional juicers.
Juicer Market Regional Analysis
Based on the geographical division of the market segments and the prominent players, Europe is expected to dominate the global market operations during the forecast period that ends in 2027. One of the major reasons that are stimulating the growth during this region is the rising consciousness amongst the population spread in various parts and countries of Europe. The presence of global brands is flocking a major demand backed with the availability of better resources is expected to drive the market towards global domination by the end of the period.
To understand the rising competition and recent developments that will help the juicer market to grow, it is important to have an idea about the players. The key market players are as follows:
The global juicer market report highlights the impact of the pandemic on the market operations and discusses the market dynamics in the form of drivers, opportunities, and restraints that will impact the market during the period ending in 2027. The juicer 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 operations. The market also highlights the recent developments undertaken during the period.
Frequently Asked Questions (FAQ) :
Juicer market valuation can touch USD 4 billion by 2027.
Juicer market can expand at 6.9% CAGR from 2020 to 2027.
Juicer market growth is driven by increasing awareness of the benefits of fruits and vegetables, rise in disposable income levels, and shifted preference to extracted juices.
Frequent power outages in rural areas and high prices of electrical juicers can hamper the global juicer market growth.
Emergence of juice bars and availability of smart juicers can bolster the global juicer market growth.
Xinbao Group, Cuisinart, Hurom India Private Limited, Hamilton Beach Brands Holding Company, Breville Group Limited, Panasonic India, KUVINGS, Foshan Shunde Ouke Electric Co., Ltd., Koninklijke Philips N.V., Braun GmbH, and Kenwood Limited are notable players of the global juicer market.