Juicer Market revenue of USD 4 billion by 2024 with a CAGR 6.9% forecast period, 2019-2024 | Key Players are Braun GmbH, Koninklijke Philips N.V., Cuisinart and Many More

The global juicer market is expected to exhibit a robust 6.9% CAGR over the forecast period from 2019 to 2024, according to the latest research report from Market Research Future (MRFR). The global juicer market is mainly driven by the growing demand from residential consumers in recent years, which has been a major driver for all electrical appliances. The report presents a detailed overview of the global juicer market by providing a thorough analysis of the major drivers and restraints affecting the global juicer market. The economic and competitive landscape of the juicer market is also examined in the report.

Juicers are kitchen implements used to extract juices from vegetables and fruits. They can be used to make purees, sauces, or simple beverages such as fruit juices. The global juicer market has grown steadily over the review period due to the growing demand for kitchen appliances in the developed world. Consumers in countries such as the U.S. and the UK have been eager customers of juicers in the last few decades, allowing for smooth growth of the market. The growing food and beverage industry is also likely to be a major driver for the global juicer market over the forecast period. The growing food and beverage industry has driven the demand for industrial juicers used in processing and manufacturing plants for fruit juices and other fruit- and vegetable-based drinks.

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Growing demand from the youth population for fruit juice products is likely to be a major driver for the global juicer market over the forecast period. The youth demographic has evolved into a strong consumer demographic for the global juicer market due to the increasing number of millennials living on their own and requiring their own kitchen appliances. The importance of juicers to teenagers and other similar demographics is high, as they can be used to produce a wide variety of beverages, such as fruit juices and milk shakes. This is likely to remain a major driver for the global juicer market over the forecast period.

Competitive Analysis:

Leading players in the global juicer market include Hurom India Private Ltd., Xinbao Group, Panasonic India, Foshan Shunde Ouke Electric Co. Ltd., Kenwood Limited, Braun GmbH, KUVINGS, Breville Group Limited, Koninklijke Philips NV, Cuisinart, and Hamilton Beach Brands Holding Company. Leading players in the juicer market are likely to focus on product development in the coming years, with more ergonomic and simple appliances becoming popular around the world.

Industry News:

In September 2019, SHARP launched a new range of home appliances, including slow juicers.

Segmentation:

The global juicer market has been segmented based on type, end user, distribution channel, and region.

By type, the global juicer market has been bifurcated into manual juicers and electric juicers. The electric juicers segment is further segmented into centrifugal juicers, masticating juicers, and triturating juicers.

The global juicer market has also been divided, on the basis of end user, into residential and commercial.

Based on distribution channel, the global market is segregated into store-based and non-store-based. The store-based segment is further segmented into supermarkets & hypermarkets, specialty stores, and others.

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Regional Analysis:

Asia Pacific is the dominant regional market in the global juicer market, followed by North America and Europe. The growing number of urban consumers in Asia Pacific has been a major driver for the global juicer market. Growing urbanization in Asia Pacific is likely to remain a major driver for the global juicer market over the forecast period. Urban consumers in Asia Pacific countries such as China, India, Japan, Taiwan, and South Korea are highly aware of the various applications of juicers and have made juicers an important kitchen appliance to have in this region. The growing demand for product development is likely to be a major driver for the juicer market in Asia Pacific over the forecast period.

North America and Europe are also likely to remain important regional markets over the forecast period due to the widespread consumer electronics market in the region.

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This release was published on openPR.