Study: Cold-pressed juice market to grow at CAGR 10% by 2022
Expanding urban population base, growing consumer spending on lifestyle products and rising health consciousness continue to drive the global cold-pressed juice market.
The global cold-pressed juice market is projected to grow at a CAGR of over 10% through 2022, according to a report published by TechSci Research, New York.
The study, "Global Cold Pressed Juices Market By Nature, By Type, By Point of Sale, Competition Forecast and Opportunities, 2012-2022," shows that rising disposable income levels, growing awareness among consumers, aggressive marketing strategies of major companies, easy availability of cold-pressed juices and robust distribution network of major players in different regions across the globe continue to drive the growth of the cold-pressed juice market.
For example, in 2015, global GDP per capita reached $15,470.15 from $14,020.31 in 2012. Rising health concerns and increasing global healthcare expenditure per capita jumped to $1,083.28 in 2015 from around $1,026.16 in 2012.
Additionally, rising focus on preventive healthcare, growing awareness among consumers about harmful effects of consuming products manufactured using synthetic ingredients and increasing demand for organic cold-pressed juices is projected to propel sales across the globe. Although conventional cold-pressed juices dominated the market, robust growth in demand for organic cold-pressed juices can be attributed to rising awareness about health and nutritional benefits of organic products. Thus, juice manufacturers in developed regions such as North America, Europe, etc. have started using organic fruits and vegetables to produce high-quality and nutrition-rich organic cold-pressed juices.
"Rising health awareness, expanding youth working class population base and rapidly changing consumer preference toward organic cold-pressed juices over conventionally manufactured cold-pressed juices due to its high nutrient content has driven sales of cold-pressed juices across the globe. Moreover, greater accessibility of these products through supermarkets/hypermarkets, brick and mortar stores and online channels along with continuous developments in supply chain network across the globe are also anticipated to drive demand for cold-pressed juices across the globe through 2022," says Karan Chechi, research director.
This report provides statistics and information on market structure, size, share and future growth, and is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation.