LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global juicer market to grow at a CAGR of more than 7% during the forecast period, according to their latest report.
This market research report segments the global juicer market into the following three major products (centrifugal juicer, masticating juicer, and triturating juicer), two major end-users (residential and commercial), and three major regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the top market drivers that are contributing to the growth of the global juicer market:
- Premiumization through product innovation and features
- Increased health awareness among consumers
Premiumization through product innovation and features
Manufacturers are launching new innovative products to widen their customer base and attain a sustainable competitive advantage. Powerful motor capacity is the main advantage of a premium-quality juicer over an ordinary juicer. While juicing hard fruits or vegetables, a higher motor capacity in a juicer ensures that the appliance does not get overheated. Earlier juicer variants had a motor capacity of up to 500 Watts, whereas newer products are powered by motors with a capacity of over 1,000 Watts. Also, the safety locking arm in the juicer ensures that it does not operate without the lid in place and the safety locking arm in the vertical operating position.
According to a senior analyst at Technavio for home, kitchen, and large appliances, “Due to the increasing health consciousness and awareness associated with healthy living, there has been a significant shift in the purchasing behavior of consumers. Enhanced living standards and rising income levels are also encouraging consumers to opt for more expensive juicers.”
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Global juicer market segmentation
Of the three major products, the centrifugal juicer segment held the largest market share in 2017, accounting for nearly 44% of the market. However, the market share for this application is expected to decrease by 2022.
EMEA was the leading region for the global juicer market in 2017, accounting for a market share of 37%. The growing emphasis on healthy eating and living among consumers is one of the key reasons behind the growth of the market.
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