The global vegetable juice market is expected to grow at a CAGR of 6.39% over the forecast period to reach a total market size of US$56.753 billion by 2025, increasing from US$39.136 billion in 2019. Vegetable juice is often made primarily of blended vegetables and is gaining popularity among the millennial population around the globe. Change in consumer taste and preference, adoption of a healthier lifestyle is expected to drive the growth of the market during the forecast period. In addition, rising disposable income in developing economies is anticipated to boost the growth of the market in the coming years. Also, the food and beverage industry has an ocean of opportunities in packaging and shelf life enhancement for the processed food industry. There is a direct relationship between both the industry with the growth in the processed food industry the scope of growth also widens up for the disinfection industry. However, stringent government regulations can be one of the biggest challenges for the market. Furthermore, carrot and beetroot juice is gaining popularity on account of the growing consumption of these juices as a part of a normal diet. Also, these juices are a great source of fiber, iron, and vitamin C which have health benefits including improved blood flow and lower blood pressure. The advent of vegetable blends has been attracting new players and is positively impacting the industry to a large extent owing to its additional nutritional quantities associated with it. Since these products provide nutritional value additions, they are preferred by a large majority of the population. In many instances, fruit juices are incorporated as a part of the daily breakfast routine as they provide a daily quota of minerals and vitamins in one serving. With an increased number of consumers globally following the trend of healthier lifestyles, the demand for fruit juices has increased tremendously causing manufacturers to develop new variants.
Safety packaging techniques is boosting the demand for vegetable juice
The demand for packaging of vegetable juice is expected to increase on account of the convenience and reusability of bottles which led to the development in the consumption of bottled vegetable juice. The growing packaging industry is estimated to further propel the growth rate of the bottled vegetable juice processing market. Furthermore, technological advancements such as automation in relation to the packaging equipment are estimated to further aid the growth of the advanced solutions during the forecast period. The innovation of packaging technology to boost cost-efficiency is projected to improve the demand for bottled vegetable juice packaging in the coming years. Moreover, product innovation in relation to the application of environmentally friendly packaging materials is poised to further propel the growth rate of the packaging materials of packed vegetable juices.
Cold-pressed juice is gaining traction
Cold-pressed technology uses a hydraulic press technique to extract the juice from vegetables and preserve the vitamins, enzymes, and minerals of the product. Rising consumer demand for healthy and nutritious foods is resulting in increased demand for cold-pressed juice. Health-conscious individuals coupled with the effective health benefits and nutritional products of vegetable juices is further boosting the demand for juices over the forecast period.
By packaging, bottle form is anticipated to hold a significant share in the market
Vegetable juice has created a major shift for beverage producers in recent years, and in order to deliver sound and convenient forms of beverage, selecting an effective form of packaging plays an important role. The bottle filled vegetable juice is easy to handle, resalable, and shock-resistant and also a good way of standing out from the competition on the shelf with a new way of the refrigerated beverage market. Also, bottles are well suited to the vegetable juice with high added value, and companies are increasingly investing in product launches to cater to the growing demand for vegetable juice in various parts of the world. Furthermore, two types of bottles that can be used are glass and plastic bottles. Glass bottles have not gained widespread acceptance compare to the plastic bottle which is considered the better alternative. But with the growing environmental concerns market is expected to witness a gradual shift from a plastic form of packaging. Besides, the increasing urban population also increases the demand for vegetable juice, and with the shift in consumer preference against the use of food preservatives directly drive the growth of the market during the forecast period.
Based on geography, Europe is expected to hold a leading position in the global vegetable juice market. The growing adoption of modern lifestyle and high-income levels of the consumers in the North American and European regions has led to a rise in the demand for on-the-go vegetable juices. While the Asia Pacific region is anticipated to witness exponential growth on account of growing disposable income in countries like China and India coupled with the rising internet penetration in the region.
By distribution channel analysis
The countries like China and India have secured their status as the global hub for trade and commerce and also provides one of the world's most business-friendly regulatory environment for domestic companies. The online retailing business is now stabilizing into a mature market as today consumers possess advanced internet accessibility in the country. The major online retailing players such as Amazon, Alibaba, and eBay are witnessing a significant increase in sales, and grocers around the globe are now stepping up their efforts by investing substantially to provide a wide array of products, better delivery, and services. All such factors are driving the growth of online retailing business in various parts of the world. Furthermore, COVID-19 impact on the online supply-side indicates that the demand for food and consumer products witnesses a significant increase. The consumers today are involved more in online shopping as the time they spend at home increases which are triggering huge opportunities for e-commerce companies that will further augment the growth of the instant coffee market. Besides, in the long-term market is expected to see a catalytic positive impact due to COVID-19 as it is expected to increase the number of internet users.
The overall vegetable juice industry is highly competitive. It offers various opportunities for new entrants owing to a continuous shift in consumer preferences towards a healthy lifestyle. Also, as consumers are becoming more aware of the health benefits associated with vegetable juice the overall market growth opportunities are widening up for the vegetable juice producers in various parts of the world. Besides, in this market, factors such as territorial market size, competition intensity, capacity, and development of demand through marketing, and local infrastructure are projected to influence the whole value chain of the product. In addition, companies are directly involved in retailing and are investing in marketing strategies to gain benefits from the growing market. Furthermore, consumer buying behavior has reshaped in recent years with growing varieties, and online retailing discount offers have impelled consumers to prefer online retail. Prominent/major key market players in the global vegetable juice market include Biotta, ITC, Dabur, Campbell Soup Company, Naked Juice Company, Suja Life, Evolution Fresh, Ito En, Ltd, and Coca-Cola Company, among others. The number of players in the vegetable juice market is huge and is growing with the opportunity to generate significant revenues because of growing demand in various parts of the world. The players in the global vegetable juice market are implementing various growth strategies like marketingand online discount schemes to gain a competitive advantage over its competitors in this market. Major market players in the global vegetable juice market have beenexhaustively covered along with their relative competitive position and strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies), strategies, and key products and services being offered along with the recent deals and investments of these important players in the global vegetable juice market.