Global cold-pressed juice market to reach $845M by 2024
In 2016, sales of cold-pressed juices in North America accounted for more than one-third of global revenues.
Commercial extraction of pulp or juice directly from fruits, vegetables and other agricultural produce has become easier thanks to cold-press technology. The temperate pressure applied on produce during a cold-pressed process not only helps in extracting a fine blend of juice and pulp, but also improves the quality of extract. Consumers from around the world are being acquainted with the fact that cold-pressed juices and pulps are healthier and more beneficial than conventionally-grinded fruit extracts. In fact, a study conducted by Persistence Market Research, New York, estimates that the global sales of cold-pressed juices in 2016 brought in about $492 million in revenues. The study also predicts that by 2024, the global market for cold-pressed juices will have soared at 7% CAGR to be valued at $845 million.
According to the report, titled "Global Market Study on Cold Pressed Juice: Mixed Fruits and Vegetables Projected to be a Relatively Attractive Market Segment during 2016 - 2024," Persistence Market Research projects that adoption of cold-press technology has gained traction in the United States and Canada. In 2016, sales of cold-pressed juices in North America accounted for more than one-third of global revenues. By the end of 2024, North America's cold-pressed juice market is anticipated to be valued over $311 million. Consumption of cold-pressed juices in Europe is also expected to grow rapidly during the course of projection period. Through 2024, Europe's cold-pressed juice revenues will have soared at a CAGR of 7%. Latin America and Middle East & Africa are two regions that are likely to incur moderate revenue growth, while contribution of Asia-Pacific to global cold-pressed juice market revenues will witness a bordering decline over the forecast period.
Organic is trending
The report indicates that in 2017 and beyond, the global demand for cold-pressed juices will remain largely inclined toward their organic nature. Conventional nature of cold-pressed juices will gradually lose out to the surging popularity of organic cold-pressed juices. By accounting to nearly three-fourth of global revenues, the global sales of organic cold-pressed juices will have raked in revenues worth over $630 million by the end of 2024. Based on the type of produce, more consumers are opting for cold-pressed juices derived from mixed fruits and vegetables. The combined nutrition availed from a mix of fruits and vegetables treads along global health trends that strongly impact the choice of consumers. In 2016, more than $130 million worth of fruit-based cold-pressed juices were sold globally, while revenues from global sales of vegetable-based cold-pressed juices reached $85 million. However, cold-pressed juices extracted from mixed fruits and vegetables will continue to account for a major chunk of global revenues, procuring nearly half a billion dollars by the end of 2024.
Online e-tailing platforms boost sales of cold-pressed juices
While retail stores are predominantly the largest distribution channels for cold-pressed juices, the internet is also playing an instrumental role in boosting global sales. Through 2024, retail and grocery stores will account for around $300 million in global revenues, but sales of cold-pressed juices will be the fastest through online e-tailing platforms. Global revenues harvested from selling cold-pressed juices online will register a 7.4% CAGR. Hyper market or supermarkets will also be one of the dominant distribution channels for cold-pressed juices. Convenience stores, on the other hand, will lose a considerable share of global cold-pressed juices revenues over the forecast period.