A new report shows that the global fruit and vegetable juice market is steadily growing, providing an opportunity for retailers with private label juice assortments.
California-based Grand View Research reports that global fruit and vegetable juice market size is expected to reach $228.96 billion by 2030, registering a CAGR of 6.3% over the forecast period. The expected growth is driven by an increasing consumption of fruit juices, the introduction of fruit and vegetable blends and rising incomes in emerging markets.
The consumption of soft drinks, such as non-alcoholic beverages, cola, flavored sodas, and other sugar-sweetened beverages, is seen to be reducing globally as more people adopt healthier lifestyles.
Asia Pacific is expected to be the fastest-growing market during the forecast period. Countries, such as China, Australia, New Zealand, and India, are expected to see a rapid surge in product consumption.
“Consumers have become more aware of the harmful health effects associated with the consumption of sugary carbonated drinks,” said Grand View Research. “ In addition to this, the growing focus on healthy lifestyles among the young, as well as working-class populations across the globe, is increasing the scope for natural fruit-based beverages.”
The supermarket/hypermarket distribution channel segment accounted for the largest market share of fruit and vegetable juices in 2021. However, the report shows that online channels are rapidly growing.
The full report can be found here.