The sugarcane juice market was valued at US$ 138.09 million in 2021 and is projected to reach US$ 233.61 million by 2028. It is expected to grow at a CAGR of 7.8% from 2021 to 2028.
Sugarcane juice is extracted by pressing the peeled stalks of sugarcane in an extractor or a mill. It is commercially grown across Southeast Asia, North Africa, and Latin America. It is a rich source of antioxidants, vitamin C, fiber, phytochemicals, and other nutrients. Packaged sugarcane juice is available in bottle, can, or carton packaging across various retail stores, such as supermarkets and hypermarkets, convenience stores, e-commerce platforms, and other distribution channels.
Based on the packaging type, the sugarcane juice market is bifurcated into bottles, cans, and others. The bottles segment accounted for a larger market share in 2020, and the cans segment is expected to register a higher CAGR in the market during the forecast period. Bottles made of polyethylene terephthalate (PET) and glass are generally used for packaging sugarcane juice. PET bottles are easily customizable, transportable, leak-proof, and recyclable, making them a sustainable packaging alternative. The high usage of PET bottles, owing to their convenience, attractive product design, and social media trends, may positively affect the growth of bottle packaging in the future. Manufacturers are also launching innovative bottles of various shapes, sizes, and prints to attract potential customer groups.
Based on the region, the sugarcane juice market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Europe held the largest share of the global sugarcane juice market, and North America is estimated to register the fastest CAGR in the market over the forecast period. Sugarcane juice is regarded as a superfood due to its extensive nutritional profile. It is becoming popular across the region due to the rising awareness of the health benefits of sugarcane juice, robust retail infrastructure, and the rising trend of on-the-go consumption. Various prominent players, such as Nutricana, So’Kanaa, and KGN London, are further projected to boost market growth over the forecast period. Sugarcane juice manufacturers are focusing on providing the juice with no added preservatives and flavors and free from synthetic ingredients. For instance, So-Kanaa, a France-based manufacturer of bottled sugarcane juice, offers 100% natural sugarcane juice which is not processed and unaltered in terms of organoleptic properties.
Goya Foods, Inc.; KGN London; NutriCana; Nutricane Beverages Pvt. Ltd.; Rakyan Beverages; So’Kanaa; Numaoy Raimaijon Co.,Ltd.; Hurrycane; Mr. Sugarcane; and Muddy Puddle Foods Pvt. Ltd. are some of the leading players in this market.
The size of the overall sugarcane juice market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the sugarcane juice market.