The Global Nectar Market was valued at US$5.663 billion in 2020.
Nectar juice, also known as pulp juice or nectar drink, refers to the juice drink which contains fruit pulps and flesh. Nectar fruit juice is made from original fruit pulps or concentrated pulps and contains fruit fibres and pectin. Nectar juice presents more of the fruit’s original taste as it reserves some solid fruit content. The growing consumption of soft drinks, such as flavoured sodas and colas, is declining globally due to growing health concerns among consumers, especially in developed economies. Soft drinks contain high sugar content, phosphoric acid, artificial coloring, artificial sweeteners, and caffeine, negatively affecting the human body and health. High awareness about the adverse effects of soft drinks on human health is the major driver of the global nectar market. Consumers are shifting their preference from carbonated drinks (soft drinks and sodas) to healthier options such as fruit juices. This, in turn, is significantly driving up the demand for nectar, thereby bolstering the global nectar market growth. People are increasingly focused on their lifestyle patterns and dietary habits to maintain good health. Rising disposable incomes, living standards, and increasing urbanization in developing countries also influence the global nectar market.
With growing consumer demand, manufacturers are also investing in diversifying their product portfolio, which will continue to fuel the global nectar market growth during the forecast period. Another factor supporting the expansion process of manufacturers in developing economies is the increasing investments in infrastructure and cold-chain storage facilities. In recent years, fruit juice drinks suffered a bad reputation due to added sugar contents being harmful to human health. The demand for nectar drinks is increasing, free from any preservative, thus propelling the global nectar market growth. There is a minimum requirement for fruit content for fruit nectars, which usually ranges from 25 percent to 50 percent, depending on the type of fruit.
Moreover, fruit nectar does not contain any preservatives or colourings. Consumers are increasingly becoming aware of nectar juice drink benefits over carbonated drinks and fruit juice drinks. Furthermore, there has been a rise in demand for premium fruit drinks that utilize high-pressure and cold-pressure techniques to preserve the juice's nutrient contents and fibre content.
The global nectar market is segmented based on type, application, distribution channel, and geography. By type, the global nectar market has been classified as orange, guava, papaya, mango, apricot, and others. The global nectar market has been segmented into food and beverage and bakery based on application. By distribution channel, the market segmentation has been done online and offline.
Because of the closures of HoReCa and Educational Institutes, produce farmers and vendors were forced to shift almost completely from the food service channel to the retail business. Shippers revealed labor and logistical issues in making the switch, but the fresh produce supply chain remained stable. It is anticipated that long-term changes in consumers' online food buying habits, increased restrictions on immigrant labor markets, and stiffer concentration in fresh produce dispersion and possibly retailing. However, with due course of time, the Covid era saw positive growth, as well as the demand for fresh and organic or natural Ingredients, raised the efficacy associated with the fruit to raise the immunity level has boosted the market growth for the Nectar Market globally over the forecasted period. Furthermore, the burgeoning demand for online food delivery and soaring demand from online retailers for packed food and beverage has spurred the market growth of nectar globally over the projected timeline.
During the forecast period, North America holds a substantial share in the global nectar market.
By geography, the global nectar market is classified into five major regional markets- North America, South America, Europe, the Middle East and Africa (MEA), and Asia Pacific (APAC). North America accounted for a significant share of the global nectar market in 2019. High awareness among consumers about health hazards related to carbonated drinks and fruit juice drinks with added preservatives and added sugar contributes significantly to the growth of the nectar market in this region. The presence of major market players also supports the growth of this regional market. The implementation of government guidelines in the United States and Canada about the consumption of fresh fruits and beverages with fewer preservatives and added sugar also positively impacts the growth of the overall regional market. Another factor spurring the growth of the North American nectar market is the high popularity of veganism in the region. Asia Pacific (APAC) will witness a special compound annual growth rate during the projected period. Europe also holds a substantial market share throughout the forecast period. The growing incidence of chronic diseases like diabetes and obesity and high purchasing power is driving up the sales of nectar drinks in the region.
Moreover, supermarkets and hypermarket retail chains across the region selling food and beverage items made from nectar also increase their consumption, thus augmenting the nectar market growth in Europe during the forecast period. Rising purchasing power and growing demand for convenience food and beverage products fuel the market growth of nectar in this region. The booming online retail industry and increasing awareness about nectar juice drinks will drive the growth of this regional market. However, APAC's nectar market growth is still restrained by the high consumption of carbonated drinks in China and India. The Middle East and Africa (MEA) and South America nectar markets are also projected to experience a considerable CAGR during the forecast period due to increasing demand for convenient food and beverage items and increasing purchasing power. The expansion of food and beverage manufacturing facilities in these regions will also escalate the demand for nectar which, in turn, will boost the regional market growth.
Market Players and Competitive Intelligence
Prominent key market players in the global nectar market include AGRANA International, Döhler, Kanegrade, The Tierra Group, The iidea Company, Malt Products Corporation, ciranda inc., and Colibree Company, among others. These companies hold a significant share in the market because of their good brand image and product offerings. Major players in the global nectar market have been covered, and their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Frutly, hydrating juice water crafted for teens, is one of PepsiCo's latest innovative products. Frutly, a new addition to the juice aisle, is made with water, fruit juice, and electrolytes for flavour for the purpose of providing scrumptious hydration as well as a good source of vitamins C and E.
Tropical Orchard Products Company Limited, a division of Demerara Distillers Limited, introduced four new one-litre juices and juice drinks. The innovative 1-litre juices and juice drinks come in Orange, Orange Unsweetened, Pineapple, and Cherry flavours.
|Market size value in 2020||US$5.663 billion|
|Growth Rate||CAGR of during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Application, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||AGRANA International, Döhler, Kanegrade, The Tierra Group, Malt Products Corporation, ciranda, inc., Colibree Company|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global nectar market?
A1. The global nectar market was valued at US$5.663 billion in 2020.
Q2. Who are the major players in the nectar market?
A2. Prominent key market players in the global nectar market include AGRANA International, Döhler, Kanegrade, The Tierra Group, The iidea Company, Malt Products Corporation, ciranda, inc., and Colibree Company among others.
Q3. How is the global nectar market segmented?
A3. The global nectar market has been segmented on the basis of type, application, distribution channel, and geography.
Q4. What factors are anticipated to drive the nectar market growth?
A4. High awareness about the negative effects of soft drinks on human health is the major driver of the global nectar market.
Q5. Which region holds the largest market share in the nectar market?
A5. North America accounted for a significant share of the global nectar market.
The Tierra Group
Malt Products Corporation
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