Asia Pacific Fruits and Vegetables Juice Market is projected to grow at a CAGR of 4.48% during the forecast period 2020-2025.
- In Asia-Pacific region, the growth in the fruit and vegetable juice market is driven by heightened demand for healthy food from an increasingly health-conscious consumer base. To meet this consumer requirement, key players are focusing on introducing different varieties and flavors, along with innovative packaging and product development.
- In addition, the advancing retail sector in the region has increased the accessibility of consumers to a wide range of products being introduced in the market, which is supplementing the growth rate. However, supermarkets and hypermarkets lead the contributing share among other sales channels in the region.
- Furthermore, the global spread of COVID-19 is forcing Southeast Asian consumers to cope by changing their eating habits and embracing new shopping practices. The threat of infection is reinforcing the importance of having a healthy immune system, unlocking new opportunities for brands to innovate around immunity to ward off future diseases. Therefore fruits and vegetables juice categories with strong immunity claims can drive the market studied.
Key Market Trends
Growing Demand for Organic Beverages
Consumers are opting for products that do not have chemical ingredients, leading to the rising demand for natural and organic food and beverages. This change in the consumer’s preference will lead to high demand for juices that are organic in nature. Owing to increasing preference for organic food products, retail chains are increasingly offering organic products such as organic dairy products, organic drinks, organic juices, organic cereals, organic meat, and others are expected to grow in near future. As a result, consumers today are increasingly aware of the rampant usage of synthetics ingredients in packaged juices and have been dissuaded from the usage of such products. This, in turn, is propelling the demand for natural and organic juices market across the region.
China Holds the Largest Market Share
China is emerging as the world leader in terms of agriculture produce. According to FAO, the country is currently the leading producer of fruits and vegetables, surpassing India and the United States, which is one of the factors thriving the associated processed food market, majorly the fruit and vegetable juice market. Furthermore, the high purchasing power of the Chinese population, aided with surplus domestic production, has contributed to increased juice consumption within the country. Keeping the country’s population into consideration, the fruit and vegetable juice market can be estimated as a flourishing industry in China.
Competitive Landscape
In Asia Pacific fruits and vegetables juice market, consumers prefer innovation in fruit and vegetable juices, an example of which is the natural ingredient products. The major players are focusing on introducing new products in the market studied, in order to cater to the interests of the consumers. Some of the major players in the market studied are PepsiCo Inc, Coca-Cola Company, Huiyuan Group Co., Ltd., Dabur India Ltd, and Fresh Del Monte among others.
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