The global vegetable juice market is anticipated to expect high growth opportunities while riding on the rising count of millennials across the world. Most millennials are gradually becoming conscious about their health, which results into a significant consumption of various types of vegetable juices. A report by Transparency Market Research (TMR) provides details about wide ranging factors that could positively impact market growth in the near future. It is titled “Vegetable Juice Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.” According to the report, the market could be classified as per sales channel, end use, product, and nature.
Strong nutritional portfolio and health benefits of vegetable juices, increasing number of health-conscious consumers, and improved disposable income are some of the primary growth factors applicable in developed economies such as the U.S., Canada, and European countries.
With respect to sales channel, the world vegetable juice market could see a classification into retail and direct sales. The retail sales market could be further divided into online retailing, specialty outlets, convenience stores, modern trade, and other retailing formats. However, among all of these sub-segments of the market, a higher CAGR is predicted to be exhibited by specialty outlets and modern trade. In terms of end use, the global market could be segregated into institutions, household, and hotel/restaurant/cafe (HoReCa). As per the findings of the report, institutions are envisaged to showcase an improved CAGR during the completion of the forecast tenure.
By type of product, the world vegetable juice market could be cataloged into shelf-stable, chilled, and frozen. Seasoned analysts are of the viewpoint that chilled and frozen segments of the market could flaunt their impressive CAGR all through the course of the forecast period. On the basis of nature, the market could be separated into conventional and organic segments. Growing awareness about organic products being healthier than traditional ones could help organic vegetable juices to demonstrate their dominance in the market in terms of a greater CAGR.
Looking at their comparatively higher consumption of vegetable juice, North America and Europe are envisioned to garner a handsome growth in the coming years. Although Latin America may impress with a significant growth in the international vegetable juice market, it could exhibit a lower CAGR than Asia Pacific. With its larger count of developing economies including Australia, India, Japan, and China, Asia Pacific could impress with a decent CAGR in the foreseeable future. Considering its substantial count of retail outlets and superior consumer base, Asia Pacific could justify its impressive CAGR during the course of the forecast period.
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Naked Juice Company, Campbell Soup Company, and Biotta are some of the top names operating in the international vegetable juice market.