Juices - BRICS

The Juices market in BRICS has been experiencing significant growth in recent years. Customer preferences for healthier beverage options, the increasing popularity of natural and organic products, and the rising disposable income levels in these countries have contributed to the development of this market.

Customer preferences: In BRICS countries, there is a growing demand for healthier beverage options, and juices are seen as a nutritious and refreshing choice. Consumers are becoming more health-conscious and are actively seeking out products that are low in sugar, free from artificial additives, and made from natural ingredients. This shift in consumer preferences has led to an increased demand for juices that are made from fresh fruits and vegetables, and that are free from preservatives and artificial flavors.

Trends in the market: One of the key trends in the Juices market in BRICS is the increasing popularity of natural and organic products. Consumers are becoming more aware of the potential health benefits of consuming organic juices, which are made from fruits and vegetables that have been grown without the use of synthetic pesticides and fertilizers. This trend is driven by a desire for healthier and more sustainable food and beverage options. Another trend in the Juices market in BRICS is the introduction of innovative flavors and blends. Manufacturers are constantly seeking to differentiate their products from competitors by offering unique and exotic flavor combinations. This trend is particularly evident in countries like Brazil and India, where there is a rich variety of fruits and vegetables that can be used to create interesting and flavorful juices.

Local special circumstances: In Brazil, the Juices market is heavily influenced by the country's tropical climate and abundance of fruits. This has led to a wide variety of fruit juices being available in the market, with popular flavors including pineapple, mango, and passion fruit. Additionally, the growing popularity of acai, a Brazilian superfruit, has also contributed to the growth of the Juices market in the country. In Russia, the Juices market is driven by the country's cold climate and the need for vitamin-rich beverages. Consumers in Russia often turn to juices as a way to boost their immune systems and stay healthy during the long winter months. As a result, there is a high demand for juices that are rich in vitamins and antioxidants.

Underlying macroeconomic factors: The growth of the Juices market in BRICS can also be attributed to the rising disposable income levels in these countries. As consumers have more money to spend, they are able to afford higher-priced products, such as premium and organic juices. Additionally, the expanding middle class in BRICS countries has led to an increase in the number of consumers who are willing to pay a premium for healthier and more nutritious beverage options. In conclusion, the Juices market in BRICS is developing due to customer preferences for healthier beverage options, the increasing popularity of natural and organic products, and the rising disposable income levels in these countries. The market is characterized by a growing demand for juices made from fresh fruits and vegetables, as well as innovative flavors and blends. Local special circumstances, such as Brazil's tropical climate and Russia's cold climate, also play a role in shaping the market. Overall, the growth of the Juices market in BRICS is driven by a combination of changing consumer preferences and favorable macroeconomic factors.

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.