Global juice market hinges on innovation: report
Global fruit juice and drink consumption exceeded 80 billion litres in 2015, representing 10 per cent of overall soft drink volume, according to a new report from specialist food and drink consultancy Zenith International. Sales were up 4 per cent during the year, with growth in Africa, the Middle East, Asia Pacific and Latin America offsetting declines in the mature markets of North America and West Europe. The market is forecast to rise by an annual 5 per cent over the next five years to 105 billion litres in 2020.
"The juice drink market is becoming increasingly diverse, with future advances, particularly in North America and West Europe, dependent on innovative and original products," commented Zenith Market Intelligence Director Esther Renfrew. "Manufacturers now recognise innovation is imperative in order to gain or maintain success."
The 2016 Zenith Report on Juice Innovation identifies eight key areas of product development initiatives since 2014 – original flavours/ingredients, new textures, vegetable juices, cold-pressed juices, reduced/low/no sugar, functional offerings, premium positioning and child-oriented.
"In recent years, the main new product development trends have involved new processing methods, refined product positioning and ingredient emphasis on both flavour and function. Our 2016 Juice Innovation report serves as an ideal reference for any company seeking to create or expand a presence in the market," Esther Renfrew concluded.
The Zenith report covers 100 per cent fruit juice, 25-99 per cent juice content nectars and 5-24 per cent juice content fruit drinks. Seventy five in-depth brand profiles offer product images as well as detailed information such as launch date, packaging type and size, pricing, ingredients, variants and marketing. Fruit drinks are the leading segment, accounting for around 50 per cent of consumption in 2015.
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