Juice drinks ‘to grow by 5% a year in the next five years’ – report

From:FoodBev

The global market for juice drinks is expected to grow by 5% a year over the next five years, according to a new report from food and drink consultancy Zenith International.

The report predicts that juice consumption will reach 105 billion litres by 2020.

The market exceeded 80 billion litres in 2015, it said, representing 10% of overall soft drink volume. Sales were up 4% during the year, with growth in Africa, the Middle East, Asia-Pacific and Latin America offsetting declines in mature markets such as North America and Western Europe.

“The juice drink market is becoming increasingly diverse, with future advances, particularly in North America and West Europe, dependent on innovative and original products,” said Zenith market intelligence director Esther Renfrew. “Manufacturers now recognise innovation is imperative in order to gain or maintain success.”

Eight key areas of product development

Zenith’s report identifies eight key areas of product development initiatives since 2014 – original flavours or ingredients, new textures, vegetable juices, cold-pressed juices, low-sugar or sugar-free, functional offerings, premium positioning, and child-oriented.

Renfrew continued: “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.”

Among other points highlighted by Zenith’s latest report include the fact that fruit drinks are the leading segment, accounting for around 50% of consumption in 2015, and that per-person consumption of 100% juices is highest in North America and Western Europe. Asia-Pacific is the biggest market in volume terms, amounting to 40% of global sales.

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