Fortified Juice Market Overview:
The global fortified juice market is expected to reach USD 2.92 billion by 2030, from USD 1.68 billion in 2018, at a CAGR of 7.10% during the forecast period., according to a new research report from Market Research Future (MRFR). The global fortified juices market is mainly driven by the growing demand for fortified foods that fulfill nutritional deficiencies and the growing awareness about the health benefits of juices. The report studies the global fortified juices market in detail to find out the major drivers and restraints affecting the market’s movement, the key players operating in the global fortified juices market, and the leading segments likely to dominate the fortified juices market over the forecast period. The likely future growth trajectory of the global fortified juices market is studied in detail in the report to provide readers with actionable insights into the market’s movement and likely development.
The growing demand for healthier food and beverage options is likely to be a major driver for the global Fortified Juice Market over the forecast period. Due to the water-based nature of juices, they are the perfect solvent for mixing a wide range of nutritional components, including minerals, vitamins, and probiotic or prebiotic formulations. Vitamins and trace minerals are among the most commonly used fortifications in juices, as they dissolve readily in fruit juices and are assimilated into the body easily without disturbing the taste of the drink.
The increasing interest among major beverage producers in fruit juice products is also likely to be a major driver for the global fortified juices market over the forecast period. While aerated drinks have been the norm in the beverage market, fruit juices have become increasingly popular in recent years due to the growing awareness about their health benefits. This has driven leading beverage producers such as Coca-Cola and PepsiCo to invest in fruit juice brands. The growing customer demographic for fruit juices is likely to drive the demand from the global fortified juices market over the forecast period.
Segmentation:
The global fortified juices market is segmented on the basis of source, nutrients, distribution channel, and region.
On the basis of source, the global fortified juices market is segmented into vegetables, fruits, and mixed. The fruits segment is dominating the global fortified juices market, followed by vegetables, owing to its higher use in the beverage industry to prepare functional beverages.
On the basis of nutrient, the fortified juices market is segmented into vitamins, minerals, probiotics, prebiotics, and others. The probiotics segment holds a major market share due to the increasing awareness about the importance of gut health and the benefits of probiotics in maintaining and enhancing gut health.
On the basis of distribution channel, the global fortified juices market is segmented into store-based and non-store based. The store-based segment dominated the market in 2017 and is likely to maintain a lead in the market over the forecast period due to the high preference among consumers for one-stop shopping.
Regional Analysis:
The global fortified juices market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America, followed by Europe, dominates the global fortified juices market due to the growing awareness about the functional benefits of fortified juices in North America and increasing efforts taken by beverage producers in North America to come up with innovative fortified juice products. Asia Pacific is likely to exhibit steady growth in the market due to the growing awareness about the utility of fruit juices and the increasing availability of modern juice products in supermarkets and hypermarkets in urban areas of the region.
Competitive Analysis:
The global Key Fortified Juice Market Players include PepsiCo Inc., Evolution Fresh, SunOpta Inc., Doehler Group, Diana Naturals, Sudzucker AG, and Hain BluePrint Inc.
Industry Updates:
In November 2017, Indian food regulator Food Safety and Standards Authority of India (FSSAI) announced plans to introduce fortification labeling for food products in the country. The high market potential of India, the second most populous country in the world and one of the world’s fastest growing economies, is likely to make it a major regional market for fortified juices in the coming years.
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