Juices: Key market research findings
- Growing popularity of coconut water
- Introduction of new flavors
Technavio has released a new market research report on the juice market in Europe, which is expected to decline at a CAGR of around (2%). High sugar content in juice drinks is the primary challenge for this market. Consumers are reducing their consumption of juice drinks in favor of other healthy beverages like bottled water. Companies in Germany are trying to improve the declining consumption by launching new products that offer more value-added features. For instance, Eckes-Granini Deutschland introduced minerals laced juice drink under the brand name Hohes C Plus and a fruit pulp under the brand name Granini samtig.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Growing popularity of coconut water is one of the key trends that this market is witnessing. Consumers are opting for packaged coconut water because of its health benefits like providing high levels of potassium, magnesium, and other minerals and its low fat and calorie content. Major soft drink manufacturers and private labels are coming up with new coconut water products. For instance, PepsiCo introduced its Naked coconut water in 2014,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research.
Manufacturers are introducing products based on stevia, which is a natural sweetener and has fewer calories than sugar. Danone launched Proviva 50, which is sweetened with stevia and is available in flavors like orange, mango, raspberry, blackberry, tropical, blueberry, and redcurrant. Mixed fruit flavors are gaining popularity in the juice market in Europe as they offer a different taste and help the manufacturers to keep the raw material price low, helping them to differentiate their product from those of competitors. Various manufacturers have come up with products with mixed fruit flavors like Tropicana banana, strawberry, and beetroot, Cappy orange and pineapple, Cappy apple, apricot, and orange and Capri Sun fruit punch, which contains grape, apple, and sweet potato.
The key vendors in the European juice market include Britvic, Coco-Cola, Eckes-Granini, and PepsiCo. This market is highly dynamic, with the dominance of major players. These leading vendors compete on the basis of price and new product offerings.
A more detailed analysis is available in the Technavio report, Juice Market in Europe 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Juice Extractor Market 2015-2019- Market Analysis
- Juice Market in the US 2015-2019
- Global Juice Market 2015-2019
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