ASEAN fruit & vegetable juices market was valued USD 2402.74 Million in 2019 and is expected to grow at CAGR of 7.22% during the forecast period owing to the increasing consumers awareness regarding benefits of fruit & vegetable juices and growing trust on packaged juices. Besides, increasing middle-class population & urban population in the ASEAN countries are some of the other factors that are fueling the growth of fruit & vegetable juices market in ASEAN countries. Current eating habits lack in nutrition and increasing inclination towards fitness coupled with increasing disposable income are expected to positively influence the fruit & vegetable market of ASEAN countries.
The recent outbreak of COVID-19 is stressing on the increasing demand for products that are considered good for health including fruit & vegetable juices. Also, consumers are now highly concerned about their health and adding fruits & vegetable juices in their daily diet which is also acting as another growth factor for ASEAN Fruit & Vegetable Juices Market.
ASEAN Fruit & Vegetable Juices market is categorized based on product type, nature distribution channel and country. Based on nature, the market is segmented into conventional and organic. Conventional fruit & vegetable juice segment dominated the Asean Fruit & Vegetable Juices market in 2019 with share of 57.44% and the trend is expected to continue during the forecast period due to easy availability and comparatively less price over organic packaged juices.
Based on the product type, the market is split into fruit, mixed and vegetable juices. In ASEAN countries, fruit juice holds the largest market share in 2019 owing to presence of many flavors and consumer’s perception of fruit is good for health. However, the mixed juice & vegetable juice segment is also expected to showcase significant CAGR during the forecast period.
Major players operating in the ASEAN Fruit & Vegetable Juices market are The Coco-Cola Company, Tipco Foods Public Company Limited, Vietnam Dairy Products JSC Company, Malee Group Public Company Limited, Barkath CO-RO Manufacturing Sdn. Bhd., Malaysia Dairy Industries Pte Ltd, Uni-President (Thailand) Co Ltd., Del Monte Pacific Limited, Unilever Indonesia, Pepsico Asia Pacific and including other regional manufacturers. Companies are also investing in creating a strong distribution network to increase their market share in the country.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Objective of the Study:
- To analyze and estimate the market size of ASEAN Fruit & Vegetable Juices market from 2015- 2025
- To estimate and forecast the market size of ASEAN Fruit & Vegetable Juices market from 2015-2025 and growth rate until 2025
- to classify and forecast ASEAN Fruit & Vegetable Juices market based on product category, nature, distribution channel, company, and country distribution.
- To identify the dominant region or segment in the ASEAN Fruit & Vegetable Juices market.
- To identify drivers and challenges for ASEAN Fruit & Vegetable Juices market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in ASEAN Fruit & Vegetable Juices market.
- To conduct pricing analysis for ASEAN Fruit & Vegetable Juices market.
- To identify and analyze the profile of leading players operating in ASEAN Fruit & Vegetable Juices market.
- To identify key sustainable strategies adopted by market players in ASEAN Fruit & Vegetable Juices market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of fruit & vegetable juices manufacturers across ASEAN. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the fruit & vegetable juices manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the materials used in manufacturing fruit & vegetable juices, distribution channels and presence of all major players across the ASEAN countries.
TechSci Research calculated the market size of ASEAN Fruit & Vegetable Juices market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Fruit & vegetable juices manufacturers/ suppliers/ distributors
- Market research and consulting firms
- Government bodies such as regulating authorities and policymakers
- Organizations, forums, and alliances related to fruit & vegetable juices
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as fruit & vegetable juices manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, ASEAN Fruit & Vegetable Juices market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- ASEAN Fruit & Vegetable Juices Market, By Product Type:
o Fruit Juice
o Mixed Juice
o Vegetable Juice
- ASEAN Fruit & Vegetable Juices Market, By Nature:
- ASEAN Fruit & Vegetable Juices Market, By Distribution Channel:
o Departmental Store
o Others (Convenience Store, Wholesale for Beverages etc.)
- ASEAN Fruit & Vegetable Juices Market, By Countries:
o Hong Kong
Company Profiles: Detailed analysis of the major companies present in ASEAN Fruit & Vegetable Juices market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis in case of direct and indirect sales channel.