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New York, NY, United States, 2017/06/29 - According to the report, titled “Cold Pressed Juice Market: Global Industry Analysis and Forecast, 2016-2024,” Persistence Market Research projects that adoption of cold-press technology has gained traction in the US 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 US$ 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 which 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.
Commercial extraction of pulp or juice directly from fruits, vegetables and other agricultural produce has become easier due to the advent of 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 & pulps are healthier and beneficial than conventionally-grinded fruit extracts. A recent study conducted by Persistence Market Research estimates that the global sales of cold-pressed juices in 2016 brought in about US$ 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 US$ 845 million.
Pepsi Co., the beverage behemoth, partakes in the global market for cold-pressed juices by offering its flagship product line the Naked Pressed juices. Along with Pepsi, several other New York-based companies are observed to be key players in the global cold-pressed juice market. These include, Liquiteria LLC., Evolution Fresh, Inc., Juice Press, Hain BluePrint, Inc., and Juice Generation. Additionally, global demands for cold-pressed juices are also being met by beverage makers such as Juice Warrior (UK), Presha Food (Australia), RAW Pressery (India) and Suja Life LLC (US).
The report indicates that in 2017 and beyond, the global demand for cold-pressed juices will remain largely inclined towards 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 US$ 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 & vegetables. The combined nutrition availed from a mix of fruits & vegetables treads along global health trends that strongly impact the choice of consumers. In 2016, more than US$ 130 million worth of fruit-based cold-pressed juices were sold globally, while revenues from global sales of vegetable-based cold-pressed juices reached US$ 85 million. However, cold-pressed juices extracted from mixed fruits & vegetables will continue to account for major chunk of global revenues, procuring nearly half a billion dollars by the end of 2024.
While retail stores are predominantly the largest distribution channels for cold-pressed juices, internet selling is also playing an instrumental role in boosting global sales. Through 2024, retail and grocery stores will account for around US$ 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 over the internet 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.
About Persistence Market Research (PMR)
Persistence Market Research (persistencemarketresearch.com) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.