Juices - Asia

The Juices market in Asia has experienced significant growth in recent years, driven by changing consumer preferences and the increasing popularity of healthy beverages.

Customer preferences: Consumers in Asia are increasingly prioritizing health and wellness, leading to a growing demand for natural and nutritious beverages like juices. Many consumers are becoming more conscious about their diet and are actively seeking out products that are low in sugar and high in vitamins and minerals. As a result, there has been a shift towards juices that are made from fresh fruits and vegetables, with no added sugars or preservatives. Additionally, there is a growing interest in functional juices that offer specific health benefits, such as immune-boosting or detoxifying properties.

Trends in the market: One of the key trends in the Juices market in Asia is the rise of local and regional brands. While global brands still dominate the market, there has been a surge in popularity of local juice brands that offer unique flavors and cater to specific regional tastes. These local brands often emphasize the use of locally sourced fruits and traditional recipes, which resonates with consumers looking for authentic and culturally relevant products. This trend is particularly evident in countries like China, India, and Indonesia, where local brands have gained a significant market share. Another trend in the market is the increasing popularity of juice bars and cafes. These establishments offer a wide variety of freshly squeezed juices and customized blends, allowing consumers to choose their preferred combination of fruits and vegetables. Juice bars also often promote the use of organic and seasonal produce, appealing to health-conscious consumers who value sustainability and environmental responsibility.

Local special circumstances: In some Asian countries, there are specific local circumstances that have influenced the development of the Juices market. For example, in India, the traditional practice of Ayurveda has had a significant impact on the juice market. Ayurveda emphasizes the use of natural ingredients and herbs for health and wellness, leading to the popularity of Ayurvedic juices that are formulated with specific herbs and spices. In China, the growing middle class and urbanization have contributed to the expansion of the Juices market. As more people move to cities and adopt a more modern lifestyle, there is an increasing demand for convenient and healthy beverages. This has led to the rise of packaged juices and juice drinks that are readily available in supermarkets and convenience stores.

Underlying macroeconomic factors: The Juices market in Asia has also been influenced by underlying macroeconomic factors. Rising disposable incomes, urbanization, and a growing middle class have all contributed to the increasing consumption of juices. As more people have the means to afford healthier options, the demand for juices has grown. Additionally, the rapid pace of urbanization has led to changes in lifestyle and dietary habits, with more people opting for convenient and on-the-go beverages like juices. In conclusion, the Juices market in Asia is experiencing growth due to changing customer preferences towards healthier beverages, the rise of local and regional brands, the popularity of juice bars, specific local circumstances, and underlying macroeconomic factors such as rising disposable incomes and urbanization.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.