Market Overview
Juice Balls Market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 8.23% during the forecast period (2022-2029).
Juice balls are liquid-filled bubbles of fruit flavored juices that pops into the mouth when consumed and the juice balls are also known as bursting boba, popping boba, and bursting fruit bubbles. Popping boba is considered as revolutionary in boba technology and is the newest topping craze for all types of drinks and yogurts and is considered as most popular toppings for frozen yogurts, bubble tea and snow ice. Rising consumer consciousness towards the consumption of nutritional food items, changings tastes and preferences of consumers, rise in the application of popping boba/juice balls in the preparation of beverages and expansion of the food and beverages industry, growing focus on innovations by the food and beverages sector is boosting the growth of the market. Increased the number of consumers consuming juice balls and its innovative flavor and varied products makes it more versatile for instance bubble tea, milkshakes, smoothies, frozen yogurts, cake topping and others which is propelling the market growth.
Market Dynamics: Growing focus on innovations by the food and beverages industry
Innovations in food and beverages industry has grown up rapidly after the COVID-19 pandemic as the consumers are picking up their pursuits of immunity boosts, new plant-based options, global flavors and tech enhanced foods. Companies are looking to launch foods and beverages with immunity-boosting ingredients. For instance, CRISPR is helping create innovations in food that meet the growing demands of consumers as hot trends such as global flavors, dominate the space. The consumption of cakes and smoothies and predominantly the fruit smoothies are getting the higher consumer preferences which is increasing the demand for the juice balls. Companies that offer ready-to-eat meals, sauces, soups and meal kits with these flavors are poised to succeed in the recent days owing to the changing consumer preferences regarding the choices of beverages. Consumers are looking for unique flavors, seasonal flavors and sing serving sizes of food have increased the demand for beverages such as milkshakes and smoothies. As juice balls are available in many flavors such as strawberry, chocolate, blueberry, glazed and others have propelled the consumer preferences thus, increasing the sales of the product.
Market Segmentation: Supermarkets and hypermarkets segment accounted for the highest share in global juice balls market
In 2021, supermarkets and hypermarkets segment dominated the market, accounting for YY% of global sales. Consumers can access a variety of products in one place through these channels, allowing them to choose the quality and quantity that best suits their needs. These channels will offer products at lower prices because they have lower operating and selling costs. Many supermarkets provide quality assurance for their products, which is expected to contribute significantly to the segment’s growth. Consumer perceptions of food and beverages with varying flavours which have changed, forcing supermarkets to stock alternative products in order to retain financial revenue and a competitive edge over others. Consumers’ recent preference for these products has compelled retailers and supermarket chains to update their product portfolios in order to keep up with customers’ increasingly dietary food choices.
Geographical Penetration: Europe is the dominating region during the forecast period
Europe is projected to be the dominating region due to the increasing demand for juice balls are highly in traction in the countries such as UK, Germany, Italy and other countries. Due to the increased presence of bakeries and the increased manufacturing footprint of backed products and beverages in Europe. The increasing demand for backery food products in Germany is a major factor boosting the Germany juice balls market as the cakes, cupcakes and donuts are decorated before selling. In addition, the rising consumer preferences towards diary free beverages products such as functional drinks and fruit-based juices instead of carbonated drinks is likely to boost the market growth. Top claims, in the past seven years, for bakery products in the United Kingdom were vegetarian, eco-friendly package, and no additives/preservatives with a rising trend of clean labeling has also encouraged the key market players to produce bakery products with minimal ingredients. According to the Food Research lab, around 80% of the bread sold in the UK is produced by the most significant (plant) baking enterprises and about 17 per cent is made by in-store bakeries (ISBs) within supermarkets, while high-street retail (craft) bakers have the rest. According to BBM, German bread culture has a special space and it is the world leader in the field of various bakery products protected by UNESCO as a cultural heritage owing to the quality, diversity, and distinctness of bread types and more than 3,200 different types of bread are baked every day. All these factors are propelling the growth of the market in Europe region.
Competitive Landscape:
There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major key players are Krishna Food India Company LTD, Cravingz Food Private Limited, Boba Box Limited, Leadway International Inc., Hangzhou Boduo Industrial Trade Co., Ltd, TING JEAN FOODS INDUSTRY CO., LTD., Hesheng food resources co, ltd, Sunny syrup Food Co, Ltd., Hainan Boyi Biotechnology Development Co., Ltd., CHEN EN FOOD PRODUCT ENTERPRISE CO., LTD., Leadway International Inc., and Possmei international Co., Ltd., among others. Some of the major key players invested in expanding their business. For instance, in September 2016, Yilli Industrial Group Co. Ltd. launched a special yogurt which are filled alginate balls and these yogurt drinks are available in apple and strawberry flavors produced using the drinks plus solution from SIG Combibloc, they have taken Yili to a new level in the field of beverages with perceptible added value. The company launched UHT yogurt drinks which are filled alginate balls are an innovation in the beverage and dairy products sector.
COVID-19 Impact: Negative impact on the global juice balls market
Due to lockdown, during the start of 2020, sales of non-edible products such as disinfectants, toilet paper, paper goods, and hand sanitizer were high in demand. The sales of edible products such as bakery, meat products, and many others were up to the mark as the supply of bakery was insufficient as many of the bakers have shut operations due to shortage of labors along with the mass production shutdowns and supply chain disruptions. Shutting down of cafes and shops due to COVID-19 lockdown restrictions has significantly impacted the product revenues. Some of the other reasons which led to decrease in sales of juice balls food during the pandemic are the high dependence on self-made food due to the fear of COVID-19 virus and lockdown which forced people not to move out of their houses.
However, there is a boost to the bakeries and beverages globally post the COVID-19 pandemic which is anticipated to grow further in the forecast period.
The global juice balls market report would provide an access to approximately 61 market data tables, 45 figures and 170 pages