Juices - Cyprus

The Juices market in Cyprus has experienced significant growth in recent years, driven by changing customer preferences and a growing focus on health and wellness.

Customer preferences: In Cyprus, there has been a shift in customer preferences towards healthier beverage options, including juices. Consumers are becoming more health-conscious and are actively seeking out products that are natural, nutritious, and free from artificial additives. This has led to an increased demand for juices that are made from fresh fruits and vegetables, without any added sugars or preservatives. Additionally, there is a growing interest in organic and cold-pressed juices, which are perceived as being of higher quality and offering greater health benefits.

Trends in the market: One of the key trends in the Juices market in Cyprus is the rising popularity of functional juices. These are juices that are fortified with additional nutrients or ingredients that offer specific health benefits, such as antioxidants, vitamins, or probiotics. Functional juices are often marketed as a convenient way to boost overall health and wellbeing, and they have gained a loyal following among health-conscious consumers. Another trend in the market is the increasing availability of locally sourced and sustainable juices. Cyprus has a rich agricultural sector, and many consumers are keen to support local farmers and businesses by purchasing locally produced juices. This trend is also driven by a desire for products that have a lower carbon footprint and are more environmentally friendly.

Local special circumstances: Cyprus has a Mediterranean climate, which is ideal for the cultivation of a wide variety of fruits and vegetables. This has allowed local juice producers to access a diverse range of raw materials, including citrus fruits, apples, pomegranates, and grapes. The availability of high-quality, locally grown produce has contributed to the success of the Juices market in Cyprus, as consumers appreciate the freshness and flavor of these juices. Furthermore, tourism plays a significant role in the Juices market in Cyprus. The country attracts a large number of international visitors each year, many of whom are looking to experience the local cuisine and beverages. This presents an opportunity for juice producers to showcase their products and attract new customers. Additionally, the demand for juices from tourists can help to drive sales during the peak holiday seasons.

Underlying macroeconomic factors: The growing Juices market in Cyprus is also influenced by broader macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable incomes. As a result, consumers have more purchasing power and are willing to spend on premium and healthier products, including juices. Furthermore, the government of Cyprus has been actively promoting healthy eating and lifestyle choices through various initiatives and campaigns. This has created a supportive environment for the Juices market, as consumers are encouraged to make healthier choices and are more aware of the benefits of consuming juices. In conclusion, the Juices market in Cyprus is thriving due to changing customer preferences towards healthier options, the popularity of functional and locally sourced juices, and the supportive macroeconomic environment. With the continued focus on health and wellness, it is expected that the market will continue to grow in the coming years.

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.