Published Date : Mar 30, 2016
Juice is one of the most favorite beverages of the global population that contains fruits and vegetable extract in a liquid form. It is widely consumed or even used an ingredient or flavor for several food preparations. The increasing preference for vegetable and fruit juices as a healthy option has been driving the global market for juices in the last few years. Juices hold a substantial share in the overall beverage industry and is estimated to witness rapid growth in the next few years.
Furthermore, the marketing tactics used by the major players for increasing their sales have been augmenting the growth of the global juices market. Moreover, the easy availability of juices in convenience stores, supermarkets, hypermarkets, and online stores are estimated to boost the demand for juices in the coming years. The introduction of new flavors in the product portfolio, a blend of vegetables and fruits, the rising awareness regarding a healthy lifestyle and a balanced diet, and the higher content level of oxidants available in the juices have been gaining traction in the last few years and are projected to drive the global juices market in the near future.
The increasing popularity of organic juices, which are being widely accepted in the Western Europe and other developed nations are creating a market opportunity for the major juice manufacturers in the market. In addition, product innovation in the juices is one of the current trends of the market and could help to improve the health of the consumers. Manufacturers are spending a huge amount on packaging segment in order to attract several consumers. The expenditure on advertisement has been increased tremendously by the players to boost the sales figures of the market.
The increasing popularity of juices has attracted several players to participate in the global juices market and gain the competitive advantage of the market. Some of the major players operating in the global market for juices are Coca-Cola Co., PepsiCo., Citrus World, Del Monte, Dr. Pepper Snapple Group Inc., Nestle, and Welch’s. In the next few years, several other players are projected to join the market and enjoy the cutthroat competitive scenario of the market