Report: 100 percent juice market to rebound
Despite the rising concern around sugar and a sluggish global economy, a new study suggests the market for 100 percent juice is headed in the right direction.
According to Tetra Pak’s new 100 percent juice index report, the combination of emerging growth hotspots and slowing decline in established markets is stabilizing 100 percent juice and bringing it back to growth going forward to 2018 as more than 40 percent of people continue to drink it every day.
Growth will come from products that meet consumer needs focused on health and out of home consumption, trends particularly strong with millennials, the most influential generation of consumers. The industry has already responded with innovation in three key areas; vegetable nutrition, 'all natural', and specialty 100 percent juice.
“It is good to see that brands globally are turning the challenges presented by changing lifestyles and the sugar debate into opportunities,” Says Dennis Jonsson, Tetra Pak president. “They are driving growth in the 100 percent juice category with new products that capture the imagination of consumers, stretching beyond traditional fruit juices such as orange and apple, to a range of inventive vegetable blends, and new fruit flavors, creating endless possibilities for new recipes. As ever, the key to success is innovation, offering the right product at the right time to meet the modern consumers’ needs and just as importantly, capturing their attention and making a connection with them."
The Tetra Pak report also highlights great potential for juice in emerging markets, with remarkable growth already taking place in China and Brazil, and other hotspots in countries such as Malaysia, India and Indonesia.
Speaking about the Indian consumer's growing affinity for 100 percent juice, Tetra Pak South Asia Markets Managing Director Kandarp Singh says, “mirroring the trends seen globally, we see consumers in India making a conscious shift towards healthier, ‘better-for-me’ beverage options. In that respect, 100 percent juices offer superior functional health benefits, apart from taste. With Tetra Pak’s technologically advanced packaging and processing solutions, we will continue to help Indian brand owners develop superior products based on an in-depth understanding of the evolving consumer and category needs in the market.”
The full juice report can be found here.