Juices - LATAM

The Juices market is experiencing significant growth and development driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Consumers are increasingly seeking healthier beverage options, leading to a growing demand for juices. Juices are seen as a natural and nutritious choice, providing essential vitamins and minerals. Additionally, the convenience factor of ready-to-drink juices appeals to busy consumers who are looking for quick and easy ways to incorporate healthy habits into their daily routines.

Trends in the market: The demand for organic and cold-pressed juices has been on the rise. Health-conscious consumers are willing to pay a premium for products that are perceived as more natural and less processed. The popularity of juice cleanses and detox programs has also contributed to the growth of the market. In Europe, there is a growing trend towards functional juices that offer additional health benefits. These include juices fortified with vitamins, minerals, and antioxidants, as well as those targeted towards specific health concerns such as immune support or digestion. In Asia, there is a strong preference for fruit-based juices, particularly those made from tropical fruits such as mango, pineapple, and coconut. These flavors resonate with the local palate and are often associated with freshness and exoticism.

Local special circumstances: The abundance of fruits and the warm climate make tropical countries, such as Brazil, an ideal market for the production and consumption of juices. These countries are known for their wide variety of fruit juices, including popular flavors such as acerola, passion fruit, and cashew fruit.

Underlying macroeconomic factors: The global rise in health consciousness and the growing awareness of the importance of a balanced diet have played a significant role in the development of the juices market. As consumers become more educated about the benefits of consuming fruits and vegetables, they are seeking out healthier alternatives to sugary carbonated beverages. The increasing urbanization and hectic lifestyles in many countries have also contributed to the growth of the market. Consumers are looking for convenient ways to incorporate fruits and vegetables into their diets, and ready-to-drink juices provide a convenient solution.

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.