Pune, India, May 06, 2019 (GLOBE NEWSWIRE) -- The report found on Wise Guy Reports (WGR) predicts that the cold pressed juices market is projected to attain revenue of USD 3,990.2 million by 2023 and is surging at a CAGR of 9.50% during the forecast period (2016-2023).
Surging Health Awareness to Bring Lucrative Results
A continuously expanding consumer base along with rising spending on lifestyle products, growing health awareness, numerous health benefits offered by cold pressed juices, elevated disposable income of people, and a burgeoning population base are the prominent factors supporting the growth of the cold pressed juice market at a global level. The towering popularity of liquid cleanses combined with the rising obsession with being fit and slim also benefit the market.
A Hike in Product Demand owing to Numerous Benefits
The demand for cold pressed juices has risen at an extraordinary rate as these contain a large number of vitamins, minerals, and anti-oxidants. The market is faring well around the world owing to the detoxifying and beauty benefits cold pressed juices offer to an individual. Need to have healthy and glowing skin, especially amongst the female population, is set to bode well with the growth of the market in the future. Apart from this, these types of juices are easily available, with various distribution channels selling these on a local basis. The prevailing belief that organic fruit juices help in the prevention of cancer, elimination of toxins and reduction in the intake of artificial food components are set to stimulate market growth even more.
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Expensive Manufacturing Procedures Could Restrain Market Growth
With the High-Pressure Processing (HPP) manufacturing procedure for cold pressed juices proving to be more expensive than the manufacturing of normal juices, the market growth can take a hit in the forthcoming years.
Organic Cold Pressed Juices take the lead Worldwide
The worldwide cold pressed juices market has been segmented based on the category, type, and distribution channel.
The categories identified by the report include conventional and organic. In 2018, the organic segment accounted for a substantial portion of the total market of 57.1%. It is also reported that the segment is set to reach the valuation of USD 2,333.4 million by 2023, whereas the conventional segment is poised to surge at a CAGR of 8.88% during the assessment period.
The Blend Type to be at the Forefront with Maximum Market Share
The types of cold pressed juices covered in the report are fruits, vegetables, and blends. The blends segment had been at the top accumulating the majority of the total market share in 2018. The report also expects the segment to reach the valuation of USD 1,680.6 million by 2023. In addition, the fruits segment will be surging at a growth rate of 9.61% during in the coming years.
Store-Based Distribution Channel to Maintain Leading Position over Coming Years
The distribution channels by which cold pressed juices are sold are cover store-based and non-store based. The store-based distribution channel has been sub-segmented into supermarkets & hypermarkets, specialty retailers, convenience stores, and others. Out of both the distribution channels, the store-based type will be the leading segment during the forecast period. On the other side, the non-store-based segment has been rising at a remarkable rate, giving tough competition to its counterpart. On that note, the segment is slated to experience a significant substantial growth rate of 10.81% in the coming years.
Regional Outlook
The global cold pressed juices market is split amongst the major regions of Europe, Asia Pacific, North America, along with the rest of the world (RoW).
North America Wins Big with Constant Innovations in Market
Out of all the regions, North America has proved its mettle by accumulating the prominent share of the worldwide market in 2018. Trade experts are also of the view that the region will be retaining its top position throughout the review period, backed by a number of lucrative drivers. These drivers include the expanding product portfolio by renowned manufacturers, who are constantly innovating cold pressed juice flavors. Moreover, the region is home to the United States (U.S.) which controlled almost 80.4% market share in the year 2018, and it is predicted that the country, as well as the region, will be maintaining its lucrative growth pattern from 2018 to 2023 at an international level.
Europe Comes Second with Mounting Health Awareness
The cold pressed juices market is thriving in Europe, as the region is progressing at the second highest CAGR of 9.67% over the following years. The regional market has advanced at a striking rate as a result of various factors, including the increasing preference for healthy beverages rather than high-calorie soft drinks by the consumers in the region. Additionally, technological upgrades along with product development seem to have worked wonders for the regional market in recent years, elevating the product demand among the general populace.
China to be the Leading Country in the Asia Pacific as New Flavors of Cold Pressed Juices Make Way
Catching up fast with other regions is the Asia Pacific, which is presumed to expand at a CAGR of 8.81% during the review period. Country-wise, China was controlling the maximum share of 33.8% in 2018, with Japan and India being other lucrative markets in the region. Huge investments to carry out a series of research and development (R&D) is resulting in continuous innovations of cold pressed juices along with new flavor assortments. This factor is presenting several opportunities to the regional market, helping increase the product demand at an excellent rate. Moreover, the rising trend of healthy lifestyle backed by growing awareness regarding the benefits of cold pressed juices along with growing lifestyle standard will turn the market into profitable venture in the years to come.
Top Players
Hain Celestial Group (US), Suja Life, LLC (US), Evolution Fresh (Starbucks Corporation) (US), Liquiteria Inc. (US), Juice Generation Inc. (US), Pepsi Co. (US), Pulp & Press Juice Co. (US), Pressed Juicery Inc. (US), Odwalla Inc. (US), Bolthouse Farms Canada Inc. (US), CEDAR Juice (US), Greenhouse Juice Co. (Canada), Galt Juice Company (US), Florida Bottling Inc. (US), are some of the companies currently dominating the global cold pressed juices market.
Latest News
April 2019
Cure Fit Healthcare Pvt. Ltd has recently acquired Rejoov, a cold pressed juices business with the aim of expanding its market presence in India. Rejoov is a brand known for selling juices extracted from vegetables and fruits using the cold pressed technique.
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