Impact Analysis of Covid-19
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Cold Pressed Juice Market 2017 – 2027
Cold-pressed juice is the juice that is prepared by using hydraulic press from fruits and veggies. Cold-pressed juice process does not involve spinning and blades but is produced by using high-pressure processing that extends the shelf life of juice and lasts for more than regular juice. Cold-pressed juice can also be refrigerated for up to five days. These juice are expensive since they are produced from 100% fruit and vegetable without any chemicals. Cold-pressed juice preserves and protects the nutrients of the vegetables and fruits such as vitamins, enzymes, minerals, and other nutrients present in the juice.
The global cold pressed juice market is projected to reach US$ 1035.0 million by the end of 2027, in terms of revenue, growing at CAGR of 6.9% during the forecast period (2019 to 2027).
Growing awareness regarding the health benefits of cold-pressed juice coupled with rising health-conscious consumers around the globe is primarily fueling the market growth of cold-pressed juice. The cold-pressed juices include hydraulic press and no additional heat or oxygen is used during the production that means it preserves the nutrients of juice that are present in the juice. This factor is expected to propel the market growth of the cold-pressed juice.
Growing demand super-fruits among the consumer as super-fruit juice are vitamin-rich, antioxidants, and promote various health benefits such as healthy skin and hair and also helps slow down premature aging is expected to propel the market growth over the forecast period. Some major vendors serving super-fruit juices are POM Wonderful, Naked Juice, Baobab Foods, etc. Therefore, rising awareness regarding the health benefits of cold-pressed super-fruits is expected to foster market growth.
Geographically, North America dominated the global cold pressed juice market in 2018, reporting 36.4% market share in terms of revenue, followed by Europe and Asia-pacific, respectively. North America accounts for the largest market share due to higher health consciousness among consumers in developed countries.
Figure 1. Global Cold Pressed Juice Market, Revenue Share (%), By Region, 2018
The high cost of cold-pressed juices as these juices are the purest form of veggies and fruits is expected to hinder the market growth of. According to the Coherent Market Insights analysis, the cost of cold-pressed juice ranges between US$ 3 to US$ 12 for bottled juices ranging from 12-ounce to 16-ounce. Moreover, high cost is also attributed to the costly production process and the use of organic ingredients. Hence, the high cost of cold-pressed juice is projected to restrict the market growth.
The growing demand for conventional juices owing to changing lifestyles and shifting preferences of consumers for a balanced diet around the globe is projected to hinder the market growth. Increasing preferences of mixed fruit juice among is also propelling the demand for conventional juice which in turn, hindering the market growth of the cold-pressed juices. For example, mixed vegetable and fruit juices are considered healthy options due to the presence of nutrient and vitamin content as well as taste.
Rising number of mergers and acquisitions by major players in order expands their market presence is expected to propel the market growth of cold-pressed juice. For instance, in March 2018, Juice It Up has been acquired by a consortium of private equity brands. Another acquisition occurred in the November 2019, when an emerging leader in infused cannabis beverages, BevCanna Enterprises Inc. announced that it has signed a non-binding Letter of Intent to acquire West Coast cold-pressed juice company, Little West Holdings LLC.
Surge in investments by major players on research and development for new product launchings and reducing the cost of operation.. For instance, PepsiCo invested around US$ 718 million on R&D initiatives in 2014, which was increased to US$ 754 million in 2015. Therefore, rising such initiatives for increasing the R &D for developing new and innovative products in order to match the ongoing trend on the market is expected to propel the market growth of cold-pressed.
Figure 2. Global Cold Pressed Juice Market – Opportunity Analysis
Market Trends/Key Takeaways
Increasing focus of manufacture for introducing the new and novel product in cold-pressed juice is projected to fuel the market growth of the cold-pressed juice. For instance, in February 2019, Natalie’s Orchid Island Juice Company announced the launch of a new line of cold-pressed juices with new functional and holistic properties that represent the next generation of Natalie’s juices. According to the company, the juices are specifically prepared with functional botanicals, traditional spices, and superfood ingredients.
Increasing focus of manufacturers to introduce customized cold-pressed juice that is non-GMO, gluten-free, and low-calorie ingredients are gaining traction in the market. Customized juice is fresh with enhancing the quality and new flavor juice because of which they are highly preferred among consumers over conventional juice. Therefore, the rising popularity of customized cold-pressed juice is expected to foster market growth over the forecast timeframe.
Figure 3. Global Cold Pressed Juice Market, Revenue Share (%), By Application, in 2018
On the basis of ingredient type, in 2018, mixed fruits & vegetables accounted the largest market share of 55.4% in terms of revenue, followed by fruits and vegetables, respectively.
Key players active in the Global Cold Pressed Juice market are PepsiCo Inc., Suja Life, LLC, RAW Pressery, Juice Press, Preshafood, Evolution Fresh, Inc., Juice Generation, Liquiteria, Hain Celestial, and Juice Warrior
Few Recent Developments
- In March 2016, the company launched its first cold-pressed juice in five new flavors in the market in the U.S., under the brand, Naked
- In March 2016, the company launched cold-pressed juices in five flavors: Bold Beet, Bright Greens, Cool Pineapple, Lively Carrot, and Hearty Greens
Evolution Fresh, Inc.
- In March 2016, the company launched four new juices, enriched with proteins, to carter to the growing demand for protein-rich cold-pressed juice
- In September 2016, the company announced the launch of five new juice blends, which is expected to be in stores by March 2017