LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global super fruit juices market to be worth USD 11.83 billion by 2021, growing at a CAGR of close to 12% over the forecast period, according to their latest report.
The research study by Technavio on the global super fruit juices market for 2017-2021 provides a detailed industry analysis based on product (100% super fruit juices, 0-24% super fruit juices, and nectars), distribution channel (supermarket and hypermarkets, on-trade, independent retailers, and convenience stores), and geography (Europe, North America, APAC, and ROW).
|100% super fruit juices constitute the most popular product segment, generating over 49% of the overall market revenue (2016 figures). The demand for these products that are rich in antioxidants, minerals, and vitamins is continuously increasing, especially among the high-end consumer demographic.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the global super fruit juices market:
- Growing interest in super fruit juices due to their health benefits
- Convenience of consuming super fruit juices
- Increasing popularity of organic super fruit juices
Growing interest in super fruit juices due to their health benefits
The changing lifestyles of the current day consumers have made them more health conscious due to their increased susceptibility to lifestyle diseases. People are increasingly preferring all-natural drinks over other drinks, which contain artificial ingredients.
“Current day consumers are showing an increasing preference towards ready-to-drink all natural drinks containing superfruits such as acai, goji berry, noni, pomegranate, and grapes. This is a major driving factor for the market, generating increasing consumer interest and thereby revenue,” says Manjunath Reddy, one of the lead analysts at Technavio for non-alcoholic beverages research.
Convenience of consuming super fruit juices
Current day consumers lead hectic lifestyles; hence, they prefer buying cooked food and processed fruit juices. Convenience has become an important parameter while buying food and beverage products. This trend has also resulted in consumers becoming more aware of the ingredients that go into making their food, and ensure that their purchases can satisfy their nutritional needs for optimal health. To this end, consumers are opting for beverages that have high nutritional value, and satisfy their daily requirements for the necessary vitamins and minerals, thereby driving the demand for super fruit juices.
Increasing popularity of organic super fruit juices
“Organic super fruit juices are quickly becoming the beverage of choice for a large consumer demographic due to their healthy, natural, and safe nature. These government certified products are becoming increasingly popular in North America and Western Europe,” says Manjunath.
The antioxidants and minerals present in the organic super fruit juices appeal to the evolved preferences of the consumers from developed countries. Many vendors such as Happy Family, Genesis Today, and Alnavit are introducing certified organic super fruit juices to grab the attention of the health-conscious consumers.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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