Fortified Juices Market Economic Conditions, Acquisitions, Developments and Forecast by 2027
Market Analysis
The global fortified
juices market is predicted to
touch USD 8 billion at a 5.2%
CAGR during the forecast period (2019-2024), in
accordance to the latest Market Research Future (MRFR) report. Fortified
juices, simply put, are juices that are enriched with prebiotics, probiotics,
minerals, vitamins, and other ingredients for enhancing the nutritive value of
the juice or rendering a functional property. These juices are rich in
micronutrients such as vitamins and essential trace elements. Fortification is
used for increasing the micronutrient content of juices or replacing nutrients
that are lost in juice processing, thus playing a crucial role to prevent
dietary deficiencies.
Fortified juices are available in the market in different
types and under different labels. The most common are prepared from vegetables,
fruits, or a combination of both. Fortified juices especially bottle gourd,
bitter gourd, gooseberry, aloe-vera, exotic fruits, and others are extensively
consumed by a good number of consumers owing to the fact that these help in
enhancing metabolism, solving gastric issues, and above all strengthening the
immune system.
Various factors are propelling the fortified juices market growth. These factors, in accordance with the MRFR report,
include growing demand for functional beverages, increasing awareness about the
various health benefits of consuming fortified juices, and a growing number of
health-conscious people in developed economies.
On the contrary, region-specific accessibility of raw
materials and fluctuating prices of raw materials are factors that may hamper
the fortified juices market growth over the forecast period.
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Market
Segmentation
The MRFR
report provides a complete segmental analysis of the fortified juices market report
on the basis of distribution channel, fortifying ingredient, and type.
Based on
type, the fortified juices
market is segmented into blended/mixed juices, vegetable juices, and fruit
juices. Of these, the fruit juices segment will have the largest share in the
market over the forecast period. This is on account to its wide use in the
beverage industry for preparing functional beverages.
Based on fortified ingredients, the fortified juices market is
segmented into probiotics, minerals, vitamins, and others. Of these, the
probiotics segment will dominate the market over the forecast period. This is
owing to its burgeoning demand in the beverage industry and growing demand for
gut health drinks.
Based on distribution channel, the fortified
juices market is segmented into non-store based and store-based. The
store-based segment is again segmented into convenience stores, supermarkets
and hypermarkets, and others. Of these, the store-based segment will lead the
market over the forecast period owing to its one-stop shopping
experience.
Regional
Analysis
By region,
the fortified juices market report
covers the latest trends and growth opportunities across North America, Asia
Pacific (APAC), Europe, and the Rest of the World (RoW). Of these, North
America will lead the market over the forecast period. This is owing to the
growing demand for natural juices and the increasing awareness about the health
benefits of drinking fortified juices.
The fortified juices market in Europe is
predicted to have the second-largest share in the market over the forecast
period. This is owing to the growing awareness about the benefits of drinking
fortified juices. Moreover, the trend of consuming healthy product is also
boosting the market growth.
The fortified juices market in the APAC
region is predicted to grow at the fastest pace over the forecast period. This
is owing to the increasing awareness about functional properties of fortified
juices and growing demand for functional beverages in Japan and China.
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Key
Players
Key players profiled in the
worldwide fortified juices market report include Welch Foods Inc. (US), MARIGOLD (Singapore), The
Coca-Cola Company (US), Doehler Group (Germany), Diana Naturals (France),
SunOpta, Inc. (Canada), Sudzucker AG (Germany), Evolution Fresh (US), Hain Celestial (US), and PepsiCo Inc. (US). Key
players have incorporated several strategies to create a niche in the market,
such as partnerships, collaborations, product innovations, and others.
August 2019: ZBiotics,
a start-up based in San Francisco has launched the world’s first-ever GMO
probiotic to prevent hangovers. This product is not regulated as a drug but as
food.
NOTE: Our Team of Researchers are Studying
Covid19 and its Impact on Various Industry Verticals and wherever required we
will be considering Covid19 Footprints for Better Analysis of Market and
Industries. Cordially get in Touch for More Details.
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