Juices - Southeast Asia

The Juices market in Southeast Asia has been experiencing significant growth in recent years, driven by changing consumer preferences and increasing health consciousness. Customer preferences in the Juices market have shifted towards healthier and more natural options. Consumers are increasingly seeking out juices that are made from fresh fruits and vegetables, with no added sugars or artificial additives. This trend is driven by a growing awareness of the health benefits associated with consuming natural juices, such as improved digestion and increased energy levels. Additionally, there is a rising demand for functional juices that offer specific health benefits, such as immune-boosting or detoxifying properties. Trends in the Juices market in Southeast Asia are also influenced by global and regional market dynamics. For example, the growing popularity of plant-based diets and the rise of veganism have led to an increased demand for plant-based juices, such as those made from coconut water or almond milk. Similarly, the trend towards sustainable and eco-friendly products has led to a rise in the consumption of organic and locally sourced juices. Local special circumstances in Southeast Asia further contribute to the development of the Juices market. The region is known for its abundant supply of tropical fruits, such as mangoes, pineapples, and coconuts, which are widely used in the production of juices. This availability of fresh and flavorful fruits allows for the production of a wide variety of juices that cater to different tastes and preferences. Additionally, the warm climate in Southeast Asia makes juices a popular choice for refreshing and hydrating beverages. Underlying macroeconomic factors also play a role in the growth of the Juices market in Southeast Asia. The region has been experiencing strong economic growth, which has resulted in an expanding middle class with higher disposable incomes. As a result, consumers are able to spend more on premium and healthier products, including juices. Furthermore, urbanization and changing lifestyles have led to an increase in on-the-go consumption, driving the demand for convenient and portable juice products. In conclusion, the Juices market in Southeast Asia is developing in response to changing customer preferences, global and regional market trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for healthier and more natural options, the influence of global and regional market dynamics, the abundance of tropical fruits, and the growing middle class with higher disposable incomes are all contributing to the growth of the Juices market in Southeast Asia.

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.